Legendary gold mine investor Pierre Lassonde appears for the first time on the radio program this week. Pierre is known for his leadership as an innovative mining executive and founder of the largest natural resources royal company, Franco-Nevada Corp. (FNV).
In 1985, Franco-Nevada acquired a royalty in a small mining operation in the heart of the Carlin gold belt of Nevada for US$2 million. From inception to February 2002, when the company was sold to Newmont Mining for US$3.2 billion, Franco-Nevada provided its shareholders a 36% annualized rate of return. For obvious reasons, there are fewer mining company executives your host would rather talk to about the current state of the gold mining industry and whether or not he thinks now is a good time to increase gold share holdings.
Also, we asked Michael Oliver if his analytical view of the gold markets is in sync with Pierre's view from a fundamental viewpoint.
Pierre Lassonde obtained his BA, BSc, U of Montreal 1971, MBA U. of Utah 1973, P.Eng 1976, CFA 1984, Hon PhD Engineering U of Toronto, Montreal, Ryerson, Hon PhD Business, U of Utah, Hon.D.Law, York University, June 2014 and Western University June 2015.
He co-founded Franco-Nevada Mining Corporation in 1982. Over the next 20 years Franco provided shareholders with a 36% annualized rate of return. The company was acquired by Newmont Mining Corp in February 2002, and Pierre became President and Vice Chairman in 2007. He served as Chairman of the World Gold Council from 2005 to 2009.
Mr. Lassonde's philanthropic interest in education and the arts is well-known. He has been Chairman of the Quebec National Art Museum since 2005. In July 2015, Mr. Lassonde was appointed Chair of the Board of the Canada Council for the Arts. He was made a Member of the Order of Canada in 2002 and Officer of the Quebec Order in 2008. Pierre was inducted into the Canadian Mining Hall of Fame in 2013.
Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton's International Commodity Division, NYC. He studied under David Johnson, head of Hutton's Commodity Division and chairman of the COMEX.
In the 1980s, he began to develop his own momentum-based method of technical analysis. In 1987, Oliver, along with his futures client accounts (Oliver had trading POA), technically anticipated and captured the Crash. He began to realize that his emergent momentum-structural-based tools should be further developed into a full analytic methodology.
In 1992, Oliver was asked by the Financial VP and head of Wachovia Bank's Trust Department to provide soft dollar research to Wachovia. Within a year, he shifted from brokerage to full-time technical research. MSA has provided its proprietary technical research services to financial and asset management clients continually since 1992. Oliver is the author of The New Libertarianism: Anarcho-Capitalism.
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