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« The “Gold Beta” Of Mining Stocks and Why We Continue To Avoid Them | Main | The great euro Putsch rolls on as two democracies fall »

The Full Monti, Mario that is!


Mario Monti

Another unected banker takes the helm, as Italy appoints Mario Monti as their new interim Prime Minister. Unelected leaders always irritate us, but this is an interim appointmnet and maybe his position will get the support of the people via a future election.

The following is a snap shot of his CV:

Mario Monti has been a member of the European Commission in charge of Competition since September from 1999 to 2005. In the previous Commission (1995-1999) he was in charge of the Single Market, Financial Services and Tax Policy.

From 1989 to 1994 he had served as Rector of Milan's Bocconi University , of which he has been appointed President in 1994. At Bocconi he was professor of Economics and Director of the Institute of Economics. Born in Varese in 1943, he received a degree in economics at Bocconi University and pursued graduate studies at Yale University .

He taught at the Universities of Trento and Turin before returning to his alma mater. He has also been a member of the board of directors of several companies. He has been contributing regularly to the Italian newspaper "Corriere della Sera" from 1978 to 1994.

A collection of his essays was published under the title "Il governo dell'economia e della moneta. Contributi per un'Italia europea: 1970 - 1992" (Longanesi, 1992). He is the author of many publications, in particular on Monetary and financial economics, Fiscal policy and European integration.

His recent publications include "Intervista sull'Italia in Europa" (Laterza, 1998). He served as President of SUERF (Société Universitaire Européenne de Recherches Financières) from 1982 to 1985 and of the Treasury Ministry's Committee on the Italian financial system which indicated the lines for the nation's financial policies for the Eighties.

In the late 1980's he was a member of the Industry Ministry's Committee which drafted Italy 's first law on Competition.

We understand that Mr Monti is also listed by Goldman Sachs, the investment bank, as one of its of international advisers. Also note that Mario Draghi, who is now head of the European Central Bank is also a former Goldman Sachs executive.

We are not paranoid, Honest!

Mario Draghi

Our strategy remains unchanged in that in that it has three elements to it. Firstly, buy and hold both physical gold and silver and keep it in your hands. Secondly build a core holding of quality producing stocks (although we are not prepared to increase our holdings at the moment) and finally, in an attempt to gain leverage to the precious metals, the careful selection of a small number of options trades can generate handsome returns when compared to the movement of the underlying commodity. Our concentration remains totally focused on the metals space, it is exciting,rewarding, irritating and sometimes downright infuriating, but this where we want to be.

 Regarding We currently have a number of open trades at the moment however, we do not update the charts until the trade is closed and the cash is back in our account. 

Our model portfolio is up 407.38% since inception

An annualized return of 113.83%

Average return per trade of 42.43%

86 closed trades, 83 closed at a profit

Average trade open for 45.85 days



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Stay on your toes and have a good one.

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Reader Comments (2)

Ah yes...the face of the enemy.

When you say Goldman, you've said it all.

November 15, 2011 | Unregistered Commenterfallingman

This is leading to one almighty bust in our opinion.

November 15, 2011 | Registered CommenterSilver Prices

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