Mickey Fulp: What I'm Buying (and What I'm Selling) Right Now

A new year has begun, but Mercenary Geologist Mickey Fulp remains firm in his convictions and is following an investment approach that he first laid out for the Investing News Network in mid-2022.

"I buy the same as always — I buy physical gold on dips and I'm continuing to try to buy farmland in the heartland," he said.

In the junior resource market he is closing out positions that are no longer profitable. "I would like to be leaving (the sector) faster because I don't see any immediate change to this bear market," Fulp commented. "I don't think 2023 is going to be very good in this market unless the price of gold ... gets to record highs and stays there. So we'll just have to see."

Many investors are watching the US Federal Reserve for clues on where gold will go this year, and Fulp said ideally the central bank will keep raising interest rates — but whether it has the conviction to do so is another story.

"That's the only way they're going to get inflation under control — that and reduce the money supply," he said, adding that he thinks the central bank needs to hike interest rates above the official rate of inflation.

"(The Fed needs to) go with the Paul Volcker model of the early 1980s," Fulp explained, noting that the current situation is similar to the circumstances seen back then. "The only difference being we didn't have a Congress that keeps spending money that we don't have. That needs to be gotten under control, and yes it's going to probably drive the world into a recession as we had in the 1982/1983 period — 1981 to 1983. We came out of it in two to three years and went into a booming economy."

Watch the interview above for more from Fulp on his economic outlook, as well as his thoughts on copper. You can also click here for the Investing News Network's full Vancouver Resource Investment Conference playlist on YouTube.

Don't forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Charlotte McLeod, 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.