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Mark Cuban Hates Gold


  • Cuban doesn't mince words when it comes to his opinion of gold.
  • Considering how far off base his supply side argument was, it gives his other statements on gold zero credibility.
  • There are times to hate gold, this is not one of them.

Mark Cuban...billionaire, Mav's owner, investor, philanthropist, and future U.S. Presidential candidate?...doesn't mince words when it comes to his opinion of gold. In an interview yesterday he said this about the precious metal:

I hate gold. Gold is a religion. There is some fundamental value to gold (implies a tiny amount with a gesture of his hand) but everything else, it's a collectable, I see gold and bitcoin as being the same thing. As an investment, hate is not strong enough, hate with extreme prejudice as an investment.

Cuban continued and said the following when comparing gold to bitcoin:

Both collectibles, their value is based off of supply and demand. The good news about bitcoin is there is a finite supply that will ever be created, and the bad news about gold is they will keep on mining more.

When confronted with the fact that Goldman Sachs says we only have 20 years left of mineable gold, Cuban responds: "Well then in 20 years we can have another conversation."

When asked "you don't see gold as money then" his response was:

No I don't see it as an alternative to currency, not at all. Let's put it this way, I don't see people in Puerto Rico carrying around big bags of gold to try and save things.

And the coup de grâce:

Let me say it one more time, hate with extreme prejudice is not enough, hate with double extreme prejudice with an ounce of hot sauce.

Q:You're in the camp of gold is just a pet rock? Cuban: "Pretty much, but I would buy a pet rock first."

Well, where do I begin? First let me say that as a gold investor (or more specifically gold stock investor), I love reading things like this as it just shows how negative sentiment really

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This article was written by

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Leader of The Gold Edge
In-depth coverage and analysis of gold and the gold mining sector

I’m a private investor with a strong track record of outperformance, and also currently work as a research consultant for high-net-worth clients who invest in the precious metals sector.

My focus was mostly on Tech/Internet when I started investing, but almost 20 years ago I became extremely interested in the gold and silver sector as I anticipated a major bull run.

I’ve been doing in-depth research on gold and silver miners since then. I'm familiar with their stories, their stock patterns, their highs and lows, their operations/projects, their successes and failures, their management teams and turnover at the top, and all other facets of these precious metal companies.

This sector is my singular focus as I expect a massive bull market will unfold. These mining stocks are the cheapest they have been in over a decade, some in fact, are near multi-decade lows as they are oversold and significantly undervalued. I expect strong appreciation in these mining stocks as the bull market in gold and silver recommences.

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