25 May 2012

Jim Slater sticks to gold

29/09/2010 Robert Tyerman

Legendary financial guru Jim Slater urged investors at today's Growth Company Investor Show to put 30 per cent of their funds into gold shares.

Slater, once a pioneering asset-stripping investment boss whose more recent coups have included ex-AIM star Galahad Gold, cited the uncertainty prompted by crumbling economies, impending deflation, a collapsing US dollar and the difficulty of withdrawing from the 'heroin habit' of monetary easing as creating the scenario for continuing strength in bullion.

'Gold shares have more leverage than the metal', explained Slater, reminding his audience that he and his son Mark are involved in steering investment funds thriving on this philosophy. Among his favourites, which had to have rising production prospects, good management, a safe political arena and no price hedging arrangements, were Norseman Gold, Centamin Egypt, Medusa, Australia's Focus Minerals and Spanish Mountain.

Wary investors should also keep 30 per cent of their funds in cash, argued Slater. For the rest, he highlighted Premier Oil as a potential takeover target and suggested growth backers should hold companies with low gearing, cash flow greater than earnings, a low price/earnings ratio relative to a high growth rate and price momentum.

Slater singled out Andor Technology, Volex, Cape and Advanced Medical Solutions as meeting his criteria. These will all be worth watching.

Tags: AIM, Commodities, Growth Stocks

Companies: Galahad Gold , Norseman Gold , Medusa Mining , Andor Technology , Volex , Cape , Advanced Medical Solutions , Premier Oil

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