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Global Natural Resources: Cambridge House Experience
Louis James of Casey Research describes his recent experience at the Cambridge House World Resource Investment Conference in Vancouver. Although attendance was down from recent years it was not the depressing malaise of an environment many thought it would be. It was low-key, but not depressed.
A small survey was taken by the writer at the conference which breached the subject of gold and its recent price action. 3 times more investors claimed to be excited at the opportunity of gold's recent decline than fearful. It is easy to act like an opportunist or pretend to be bullish, but how many can actually buy on that faith.
James reminds investors - "People brave enough to buy when others are not interested know the secret of how to 'buy low and sell high' - they are true contrarians."
It is fortunate, it's not easy to buy when there is blood in the streets and everyone is bearish. Pressure is on you from all fronts and usually one has to act alone. This is why courage and independent thought are needed to be a true contrarian. Contrariarns' enter un-crowded trades when few want to and let no one persuade them in their beliefs and quest to reap profits.
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