![]() ![]() Yet gold's kind of marched along, right? It's continued to do its role of being a store of value. If you think about where the S&P 500 was this time last year versus today, as the Fed sort of puts pressure on balance sheets and starts to raise the cost of capital, we're certainly seeing some dislocations in the market from time to time. A lot has changed in the last twelve months and a lot has stayed the same. It's sort of dog-eared and I have a little black folder that I carry around all my favorite stats when I'm traveling and doing meetings and this thing gets dog-eared and marked up all year long. We're very much focused on the commodities and the precious metals space.Įd Coyne: That's a great download. We manage private accounts for high-net-worth individuals. But primarily, we are asset managers we are a boutique asset management company based in Lichtenstein. We posted it on May 24th and it's free of charge, which is also important for us thanks to our premium partners like Sprott, who make it possible for us to make this available for everybody all over the globe, free of charge. Now we publish the report in four languages, and it's probably the most widely followed publication on gold. We want to cater and inform and educate institutional players and sophisticated investors and make a sober case for gold and not make the case for everything going to hell and for hyperinflation because there's already way too much of this kind of gold research out there. ![]() And I said I would love to continue writing the In Gold We Trust report because there is a lack of solid, serious, not doom and gloom research in the gold space. I quit my job and set up Incrementum with partners from Switzerland, very senior guys and a close friend of mine, Mark Valek, who was a very successful fund manager here in Austria. That was when I started writing and researching the topic of gold and publishing the In Gold We Trust report. And back then, I was analyzing Asian equities, and my boss said, gold is always good go ahead and write a little special report. I went to my boss and said I would like to research the topic of gold. I didn't know about gold or the mining business, but this was cool. Ronnie Stoeferle: I started as an analyst at a big Austrian bank and I don't know if it was a curse or a blessing, but I invested in a small-cap explorer called Osisko Exploration. We are seeing turbulence in many markets and those crises start in the periphery and then move to the center." And frankly, how did In Gold We Trust even come to be? Stoeferle: "Gold has done its job as a solid portfolio performer.I think it's now time to play defense. Give us a little insight into your background and what makes your firm special. And you guys do such a wonderful job to help crystallize what's happening in the world today and even more importantly, what's happened in the last twelve months relative to last year's report. Always a pleasure talking to you.Įd Coyne: In the precious metals world, as nerdy as this may sound, I always look forward to this time of year because one of my favorite reports is In Gold We Trust. Ronnie Stoeferle: Thank you very much for having me, Ed. Ronnie, thanks for joining Sprott Gold Talk Radio today. It's the time of year again when we are lucky enough to be joined by Ronnie Stoeferle of Incremental. I'm your host, Ed Coyne, Senior Managing Director at Sprott. Ed Coyne: Hello and welcome to Season 2, Episode #5, of Sprott Gold Talk Radio. ![]()
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