Investing in Gold Miners: The Midas Touch

Published on
August 19th, 2020
Duration
53 minutes

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79

Investing in Gold Miners: The Midas Touch

The Interview ·
Featuring James Rasteh

Published on: August 19th, 2020 • Duration: 53 minutes

James Rasteh, CIO and co-founder of Coast Capital, joins Real Vision CEO, Raoul Pal, to discuss successful strategies for investing in gold mining stocks. Overspending on exploration has for the past decade been the most heinous sin of gold miners, Rasteh tells Pal, and that’s why balance sheet discipline can help unlock deep pockets of value in stocks other investors have overlooked. Rasteh shares with Pal specific examples wherein his activist strategy has been extremely successful, such as Jaguar Mining, as well as other companies he thinks have a bright future. Lastly, Rasteh and Raoul discuss the macro drivers of owning gold miners, and explore the risks and rewards of owning large-cap mining stocks vs. their mid- and small-cap counterparts. Filmed on August 14, 2020.

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Transcript

Chapters

  1. 00:00:32
    James Rasteh's Story and Investment Strategy
  2. 00:06:28
    Finding Value Opportunities
  3. 00:13:06
    Gold Within the Macro Picture
  4. 00:20:24
    Lessons Learned from Investing in Gold
  5. 00:24:04
    A Success Story: Detour Gold
  6. 00:25:20
    Observations about "Peak Gold" and Market Cap Size
  7. 00:28:28
    Risks of Gold ETFs
  8. 00:30:12
    Shareholder Activism
  9. 00:31:53
    Specific Examples: Jaguar Minerals and TMAC Resources
  10. 00:41:25
    Fraud in the Gold Mining Space
  11. 00:45:05
    Thoughts on Price of Gold Relative to Mining Stocks
  12. 00:49:11
    Closing Thoughts on Dollar Reserve System