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January
1
2013

Gold's Raging Bull Market Will Continue Into 2013
David I. Kranzler

The Fiscal Cliff farce will be "fixed" one way or another. All you have to do is look at where the carrots are hanging in front of the Asses and Elephants. In fact, Obama just gave the children in Congress a nice pay raise, but they won't get any pay if the "Cliff" kicks in and the debt ceiling limit isn't raised/eliminated.

In the meantime, most serious students of value/fundamental investing like to focus on long term trends. The long term trend for gold has been 12 years in a row of gains. And we all know the fundamentals become stronger by the day to support several more years of gains.

With that in mind, I recently went to the Van Gogh exhibition at the Denver Art Museum. It is probably one of the best art exhibitions I've ever seen (after spending time in museums in NYC, Chicago, Paris, Italy, etc). The exhibit uniquely spans Van Gogh's entire artistic career and I learned aspects of his artwork and its development about which I had no prior knowledge (like a heavy influence of Japanese art underlying his color scheme and strokes). The exhibition truly blew me away in depth, scope AND the fact that it was assembled in Denver (not exactly an art mecca).

In honor of one of the greatest master artists of all time, I have to say that I don't think even Van Gogh could reproduce this 12-year, weekly visual of a raging bull market in process:


David I. Kranzler

Golden Returns Capital
Managing Member – Registered Principal

University of Chicago Graduate School of Business 1991, Finance and Accounting (Dean's list 1990)
Oberlin College 1985, B.A. English and Economics

After college David spent time in the fixed income securities division of Goldman Sachs and as an associate at a New York City-based private investment firm. Upon earning his MBA, David spent nine years as an institutional "junk bond" trader at Bankers Trust. David was part of a team that built Bankers Trust into a top-three trading and underwriting junk bond desk prior to the acquisition of the firm by Deutsche Bank. While at Bankers Trust, he was responsible for managing and trading up to $200 million in risk-based, proprietary capital. He has spent the last 10 years researching and trading the precious metals sector.

Golden Returns Capital is a registered investment company which provides investment advisory services and manages the Precoius Metals Opportunity Fund (PMOF). PMOF is an actively managed fund whch invests exclusively in physical gold/silver bullion and mining stocks. It is geared for both wealth preservation and total rate of return. PMOF has a 3-yr, audited performance history and has a $100,000 investment minimum.

www.goldenreturnscapital.com

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