Keith Fitz-Gerald: "I am Buying Gold and I Intend to Buy More if It Goes Down"

Apple plunged below $400 per share, while gold prices remained well under $1,400 an ounce.

What's going on in the markets?

Stuart Varney of Fox Business' "Varney & Co." put that question to Money Morning Chief Investment Strategist Keith Fitz-Gerald Thursday.

Of Apple, Keith said, "I wouldn't touch it," then ticked off a number of reasons.

But Keith had a decidedly different take on gold, saying, "I am buying gold and I intend to buy more if it goes down, and I hope I'm smart enough to do it for a long time to come."

Asked what else he's investing in, Keith said he's "cautiously buying" energy, defense technology and medical technology stocks.

To hear more from Keith on these topics as well as his view of the massive money-printing in Japan, watch the video below.

Join the conversation. Click here to jump to comments…

  1. H. Craig Bradley | April 19, 2013


    Keith is a trader: He likes whatever the market is currently doing (real time) and is rather agnostic about most investment classes otherwise.

    ( Keith told me at 24 Hour Fitness in Beaverton, Oregon in 2005 that "I don't like gold either") Well, now he "likes" it. What a difference a day makes. Actually, what Keith likes most of all is making money and any particular investment class, if sufficiently underpriced, qualifies).

  2. Hiroshi Ishii | April 19, 2013

    Right, Abenomics shall fail: Pa earns $1,000 a month, and Ma spends $2,000 getting money from illegal channel. Mr Abe is taking a wrong course claiming tiny rocks in the China Sea and losing a gigantic market in China. Poor Pa(voters) sooner or later shall divorce Ma(Mr. Abe Cabinet).

  3. H. Craig Bradley | April 19, 2013


    Wait a minute, The stock markets are supposed to have "fully recovered" and surpassed 2007 highs. The housing market is said to be the "best in the last 5 years"! In addition, a majority of financial advisors are "bullish" that the current market pull-back is just a short term consolidation before the next leg up of this bull market. Are they right? Seems a large number of people just are not buying the story.

    Usually gold does not go up at the same time stocks and the U.S. dollar index are moving higher. Investors who buy physical gold should not try to time the market or plan on selling their holdings. So, it should be extra (discretionary) money they can live without for a long period of time (until gold is $5,000/ounce).

    If someday we actually experience a couple years of "mass inflation" (20%-25%) then gold might rocket, but its no sure bet. You would have to be able to time the market, kind of like selling Apple shares right at the top ($705). Good luck timing that one exactly. Soon afterwards, I would expect an economic collapse in which gold, stocks, real estate, bonds are all in steep decline (all assets collapse together). Then what will you be able to do? Stores will be closed or unstocked, like in Argentina or Russia. Many banks will be closed down by then too. Not much left worth keeping- or protecting.

  4. H. Craig Bradley | April 20, 2013

    Mr. Mayhem Meets the Gold Hoarders

    Obviously, gold is and has been highly manipulated by central banks (principle buyers) and most recently so-called "bullion banks". ( Can anyone name a bullion bank or two for clarification??). Add to that sovereign wealth funds (China) since about 2004.

    Gold's vulnerability to market manipulation by large players is but one reason why I have never bought any- because of all the periodic manipulation, its pretty hard to nail-down value. If you don't know if you are paying too much, or too little, then you are just guessing. Some bets may work out, but that's certainly not "investing" in my book. Instead, its speculating and trading(trend following).

    If you think we will have real deflation and economic chaos, then you better stock-up on canned or freeze-dried food (six months supply), bottled water, gasoline, and bullets ( if you can currently even find any ammo at the store). You also will need quite a bit of cash, because the ATM's might not work (as in Cyprus). Gold is not fungable- you can not buy food or necessities at the store with gold.

    Remember, coins are ONLY accepted at their "face value", not based on their weight in gold or silver. In addition, you probably don't want to live in or near a large U.S. city when Mr. Mayhem comes calling.

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