Egon von Greyerz, founder of Matterhorn Asset Management and Gold Switzerland, is renowned for his expertise in the areas of investing and wealth preservation. Amid a backdrop of rising inflation expectations and elevated stock market valuations, now is the perfect time to tap into his wisdom.
Greyerz understands that it’s tough to convince today’s traders that commodities are worth holding for the long term – especially when so many new investors only want to focus on Tesla stock or the latest IPO or SPAC.
What they should understand is that Greyerz has proven himself over the long term and outperformed almost everybody with a very simple strategy. He’s invested heavily in gold for himself and his investors since 2002, when the price was $300 – and today, gold is up just under 6x since then.
Just by holding gold, Greyerz not only outperformed the vast majority of market participants, but also effectively hedged against inflation as the dollar and most currencies are down 97-99% since 1971 against gold and down 85% since 2000.
And here’s a wake-up call for today’s traders: Greyerz is bracing for Tesla stock to fall by at least 80% in real terms over the next few years. Considering Tesla stock’s quadruple-digit P/E ratio, it shouldn’t be too surprising if Greyerz’ prediction comes true.
Another important point that Greyerz makes is that in real terms, most people aren’t making nearly much as money in the markets as they think. As he explains, if you want to know your real stock market gains since 2000, you should deduct 85% since that’s the loss of the dollar’s purchasing power in real terms since then.
More than 99% of investors will have lost money on that basis – so maybe it’s possible that most money managers aren’t as clever as they pretend to be. All things considered, it’s much better to hold an asset that’s real and that has enduring value, and which isn’t just the flavor of the month.
Gold is definitely not the flavor of the month as it has pulled back from $2,050 per ounce to the $1,700 area. Egon von Greyerz expected this to happen, and now he’s preparing us for a coming up-move in gold that will be extremely strong and take everyone by surprise.
There will be no reason for a major correction before the $3,000 level, he explains – and at the same time, silver is likely to go up three to five times as fast as gold. But then, investors should also be advised that silver is more volatile than gold.
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Looking further out in time, Greyerz is maintaining his long-standing target price of $10,000 for gold. And in his view, gold today is as cheap in real times as it was in 1970, just before it started to climb 24x from $35 to $850.
He also emphasizes the importance of acting now since, in the near future, the major structural shortages of physical gold and a failure of the gold paper markets could make physical gold unavailable at any price.
I tend to agree with Egon von Greyerz’ current forecasts, not only because he’s been spot-on so many times before, but because the conditions for a gold super-cycle are lining up perfectly.
With a government that’s ramping up the pace of money printing, along with increased institutional interest in physical bullion, the balance of supply and demand should soon weigh heavily in favor of gold ownership.
Could we see a 24x gold bull run similar to what happened in the 1970’s? Chances are, we’re still in the beginning stages of something huge. And when there are pullbacks along the way – like we’re experiencing right now – that’s a signal to participate, and by that I mean accumulate.
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