Leeb – Israel Prepping for War, Junior Gold Shares Set to Soar
May 21, 2012
With most major markets trending higher, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management. Leeb told KWN that Israel is prepping for war and one of the key mining indexes should be up ten-fold in the next few years. Here is what Leeb had to say about the situation: “Back in the 1980s I looked at the Dow and the S&P and I wrote a book about it that the Dow could triple. It turned out I was conservative. But it’s rare, in fact I can’t remember ever looking at an index where I could actually say this is an index that could easily go up ten-fold within the next two to three years.”
Stephen Leeb continues:
“So I’m looking at an index on my screen that I think can go up ten fold over the next few years and it’s the junior gold miners. This is an index (the GDXJ) in which many of the stocks are selling at literally dimes on dollars or nickels on dollars.
I mean they have been so decimated. The index has lost 50% with gold just standing still. It doesn’t make a lot of sense. These senior gold companies are struggling because there is very little gold left in the ground and when you are a big company that can have a very big impact….