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Colombia’s Policies for Growth

    February 03, 2010

Frank on BNN - Colombia’s Policies for Growth 020310While in Toronto yesterday, I stopped by the Business News Network studios to discuss commodities and emerging markets with hosts Frances Horodelski and Marty Cej. We discussed why I believe the supercycle for commodities is intact and how Colombia has benefited from pro-business government policies.

I met with President (Alvaro) Uribe and it was fascinating to observe his policies for social stability and job creation. Five years ago he changed the rules of engagement for companies to come in and develop their oil fields…He has [then] taken those petrodollars and he’s reinvested them back in the country’s infrastructure and created jobs.

That is in complete contrast to what (President Hugo) Chavez is doing in Venezuela, or even Mexico and their energy policy. They are seeing reserves deplete, but there’s no policy to bring in intellectual capital like they’re doing in Western Canada and in the U.S. to develop those [depleting] fields.

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By clicking the link you will redirected to BNN.ca. U.S. Global Investors does not endorse all information supplied by this website and is not responsible for its content. The following securities mentioned in the interview were held by one or more of U.S. Global Investors family of funds as of December 31, 2009:  Pacific Rubiales #10-86

 

Active vs. Passive Gold Investing

    December 11, 2009

Frank on BNN 121109While in Vancouver, I appeared on Canada’s Business News Network to discuss mutual funds vs. ETFs and what’s happening in the gold market with host Michael Hainsworth. I highlighted some of the lesser-known facts about ETFs and how they can affect investors.

I also discussed why we’ve seen gold stocks outperform bullion this year:

A big factor you have to take a look at is oil. When oil ran to $147 a barrel and was the biggest component of expenses, then gold stocks did terrible relative to bullion. But this year we’ve seen bullion underperform gold stocks because the price of oil hasn’t risen enough to wipe out their profit margins.

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All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor.

 

Is it Over for Gold?

    October 29, 2009

Frank and Simon Wall Street 102909I visited the Wall Street Journal offices this morning to discuss gold and commodities markets with reporter Simon Constable. Simon and I discussed gold’s volatility and demand concerns. I also outlined who some of gold’s key constituents are:

There are what they call the price takers and the price makers. The price takers are the jewelers...they’re a huge part of the demand equation. The price makers are the investment people who are worried and have a lack of confidence in the government’s policies about the currency.

All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor.

The following securities mentioned in the interview were held by one or more of U.S. Global Investors family of funds as of September 30, 2009: SPDR Gold Trust. #09-758

 

A Gold Rally with Legs?

    October 06, 2009

BrianHicksTV100609News that oil-producing countries are in talks with oil-consuming countries to denominate future transactions in a basket of currencies rather than in dollars sent the U.S. dollar to new lows and gold to new non-inflation adjusted highs of $1,045 before settling around $1,039.

Portfolio manager Brian Hicks spoke with Stacey Delo from Marketwatch about what’s behind gold’s big move upward today and whether today’s move is just the beginning of a long-term trend for the precious metal.

Hicks believes the trend has legs and has even moved his price target higher.

My original target was $1,100 by year-end, and I think where the dollar is now and the potential for it to go lower between now and the year end, I think I have to move that target up a bit to $1,150, maybe $1,200 by year-end… We’ve tested $1,000 an ounce on several occasions over the last 18 months and now we’ve finally broken through. I think that it implies that we could see higher moves from here.

All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor. #09-704

 

What Drives Performance of Gold Stocks

    September 02, 2009

I appeared on CNBC’s “Street Signs” with Erin Burnett this afternoon to discuss the research we did on the September performance for gold. Burnett asked what particularly drives performance of certain gold stocks over others.

“What research has shown is that the leverage is in unhedged gold stocks. That’s where you get a bigger move. And historically a 1 percent move in the price of bullion translates into a 3 percent move for unhedged gold stocks. So that’s what we focus on and we like those companies that protect the shareholders’ value on a per share basis. And what we’ve seen is those companies that have the highest production-per-share growth and reserve-per-share growth end up having the best performance.”

The following securities mentioned in the interview were held by one or more of U.S. Global Investors family of funds as of 6/30/09:  Jaguar Mining, Randgold Resources, Royal Gold, Teck Resources Ltd. 09-594

 

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