5 Experts Share Best 2023 Tips for Resource Investors
Rick Rule, Gareth Soloway, Chris Vermeulen, David Morgan and Nick Barisheff share their best tips for resource investors in 2023.
2022 is over, and the Investing News Network is looking forward to 2023.
To kick off the new year, I asked five experts to share their best tips for resource investors over the next 12 months.
Read on to find out what they had to say.
Kicking off the list is Nick Barisheff of BMG Group. In today's tough economy, he's noticed a trend of investors liquidating physical precious metals for cash. This is risky in his opinion, and he pointed to physical silver as an option for those short on funds.
David Morgan of the Morgan Report encouraged each investor to figure out the right amount of precious metals for their portfolio. He sees a need for balance, but did say that in general he wouldn't recommend any conventional assets right now.
Chris Vermeulen of TheTechnicalTraders.com is next, and he said that the "buy and hold" strategy will be risky for older investors in 2023. In his view, stepping out of the market could be a better option than staying in and potentially seeing major losses.
Gareth Soloway of InTheMoneyStocks.com encouraged investors to get educated on chart reading and market psychology.
Finally, resource sector veteran Rick Rule of Rule Investment Media said he sees a "substantial risk" of a recession in the next five years. With that in mind, he believes people need to prepare for increased risk and higher volatility.
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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.
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