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Precious-metals bug anticipates inflationary future

Ben Kramer-Miller, 28


Freelance writer and researcher

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The portfolio

Includes silver bullion coins (e.g. American Silver Eagles), precious metals fund Central Fund of Canada and shares in mining companies Timmins Gold Corp., Silver Standard Resources Inc., Klondex Mines Ltd., Avino Gold & Silver Mines Ltd., Energy Fuels Inc. and Mosaic Co.

The investor

Ben Kramer-Miller is a confirmed do-it-yourself investor. "Nobody cares more about your money than you do, so make your own investing decisions based upon your own investigation," he says.

How he invests

Mr. Kramer-Miller prefers to invest in assets that are positioned to benefit from long-term "economic tailwinds." They should also be "deeply undervalued." At the macro level, he believes the vast quantities of money printed by central banks will eventually lead to inflation, so portfolios need to emphasize asset classes that do well during such an environment. At the top of the list are precious metals and commodities.

He also looks for trends below the macro level. Silver, for example, is "being used more and more in solar panels, computers and cell phones…"

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Bargain-priced stocks are to be found in the resource sector now because companies are being squeezed by higher production costs and lower prices for the commodities they sell. But as executives respond by shutting down mining operations, supply shortages should support prices.

Mr. Kramer-Miller recently purchased shares in Klondex Mines, a Vancouver gold miner "with a very promising property in


Best move

"My best move was purchasing shares of Iamgold near the bottom in 2009 and selling them in 2010."

Worst move

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"I bought Bank of America just before the financial crisis and sold it near the bottom."


"Be independent and a contrarian," Mr. Kramer-Miller recommends. "If you do your homework, you will have the confidence to buy when others are selling.

"Just remember that the people who made serious money in Apple were buying when the stock traded at $7 a share and others thought it might go bankrupt."

Special to The Globe and Mail

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