VIDEO - Benj Gallander: Use Gold as a Diversifier, Not a Safe Haven
The founder of Contra the Heard also touched on site visits and why they are important to learn more about resource companies.
Despite the current state of the market, Benj Gallander of Contra the Heard Investment Letter has not changed his investment style.
Speaking with the Investing News Network at the recent Prospectors & Developers Association of Canada (PDAC) convention, Gallander said he doesn’t believe gold is a safe haven, but a good alternative.
“If the economy gets really, really bad, if the value of money is so defaced because they print too much of it, gold is something to diversify into,” he said.
He added that some consider US dollar a safe haven.
“When the American debt increases by a trillion dollars in a year, when the deficit keeps growing … what they did in the US made no sense … so now that we are hitting difficulties they don’t have as much ammunition in the tanks,” he said.
Moving on, Gallander shared his thoughts on the upcoming US election.
“I still think Donald Trump will not be the next president,” he said, also mentioning what he thinks about the Democratic candidates.
The founder of Contra the Heard Investment Letter touched on site visits as well and why they are important to learn more about resource companies.
“Site visits are very valuable, but it is the same philosophy as talking to management,” he said. “You have to be wary, because there’s a lot of people that want to sell you a bill of goods.”
Watch the video above to learn more about Gallander’s thoughts on resource stocks and the US election. You can also click here for our full PDAC playlist.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.