Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
The pro-gold group is gleeful after Friday’s news that analyst and bullion’s damp squib, Jon Nadler, is leaving Kitco.
Nadler’s former employer announced his leaving in a press release.
“We appreciate Jon’s contributions to the company and wish him well,” wrote John Dourekas, Media Director for Kitco.
“Jon played a significant role in making expert commentaries an important feature of Kitco.com. We sincerely thank him for all the years on our team and wish him the very best in his future endeavors.”
No reasons for the departure were given.
The Gold Anti-Trust Action Committee must have had fun with this headline when reporting the news:
Kitco cans analyst Nadler; gold rises $5.50
Silver Doctors took their own shots.
After 7 years of degrading precious metals investors and GATA, Kitco has finally let go bullion bank apologist and gold and silver perma-bear Jon Nadler.
Apparently 7 consecutive years of predicting massive declines in the midst of bull markets for gold and silver finally caught up to Nadler as Kitco stated that We are dedicated to having the best-of-the best expert analysis on Kitco.com.
While we would like to say we wish Nadler all the best in his career pursuits, we don’t recommend wasting your ink submitting a resume to SD, Jon.
The departure of Jon Nadler from Kitco was not only long overdue (and the wording of their release strongly suggests he was let go), but one of the few instances where gloating is most appropriate.
Nadler forecast a bubble building under gold due to ETFs and other factors and predicted a massive correction. He did recommend that investors keep gold as an insurance position, not as an investment.
In the same announcement Kitco said Peter Hug, Global Trading Director for Kitco Metals, and Jim Wyckoff, Senior Analyst for Kitco Media, will contribute regularly to the commentary section.
Here is Nadler being interviewed byKitco’s Daniela Cambone a month ago about the outlook for gold in 2013.
Creative Commons image of a baskeball player from kristin osier
5 Comments
Burpethead
Surprised to see so many positive Nadler comments. I understand it’s important to have a counter viewpoint, but it doesn’t make sense for Kitco to have it coming from a gold bear. Every day for seven years, Nadler said gold was going to retract 50 – 70%, as it kept going upwards. There’s a point where you can’t be trusted anymore beyond viewpoints.
Nadler representing Kitco was like Ford having a representative that says American car sales are going to be low, and you shouldn’t own American cars.
Kitco sells gold bullion & news commentary, so it’s in their best interest to have a gold bull with positive viewpoints as their representative. I welcome Peter Hug!
Joe
He was an idiot.
Thank goodness he is gone.
methods3110
Turned out he was right, at least for 2013.
methods3110
His main problem was his sarcasm, and virulent dislike of goldbugs; and also his glee whenever gold went down. Funny choice for Kitco to employ a gold hater, or at least a goldbug hater. Then there was also the suspicion he was a shill for the bullion banks, and established orthodoxy. He was, however, erudite and well-read, unlike his far less literate co-analysts, and had a biting sense of humor, often worth a good snort of laughter. We exchanged emails many times, until eventually he blocked me from his list.
Guest
Except he was right. Hahaha all you losers! How’s your gold stocks doing?