It is generally accepted that the Gold Secular Bull Began at the turn of the century

20 Years is a Large Sample size in which to compare who would have fared better after buying in Y2K and holding to 2020

A Gold ( the metal) Investor or A Gold Stock Investor

Using $HUI as Proxy for the miners lets find out

As Alex says one should expect 2 to 2.5 X leverage in Miners vs Gold to compensate for the risk

Many Permabulls have said the leverage you get from miners is 3% to 5%

This should dispel this myth.

Gold Stocks Suck !

Ah Fully but you are just cherry picking your start date….what about 10 year results ?

Yah What about that ?

Ready >

Can you all grasp the significance of this ?

This Stock Charts performance tool is great…leaves NO room for debate….these are the results

Full Disclosure …as moderator of this site I too am enamoured with all the various Gold Stocks and I too invest / trade in them and have been for 25 years !

However as time has gone by notwithstanding many short exciting bursts in the prices I have come to realize that

the goldbug narrative that Gold Stocks will make you rich is Bull Shit !

Full Disclosure I am 60% Phys Gold 20% Phys Silver and 20% PM Miners โ€ฆ.the Miners are just to feed my inner masochist !

If this information does not make you at least consider your investing strategy in this sector going forward then

Good Luck to you !

I SEE IT BUT I STILL DON’T BELIEVE IT FULLY ! How about if one Bought in Y2K and sold the top in 2011 ?

For Alex

so the take away is…even if you sold at the very top of history’s greatest Gold Bull …there was NO leverage being in Miners

this surprises even me

Sheesh

Added:

To be fair there was a period…The first 4 years of the 2000s where IF you sold ( in around Jan 2004) you would have come out WAY ahead in Gold Stocks

Alfa8…I believe you told me that’s exactly what you did…if so …Brilliant !

………………

FINAL EDIT

Here is the 20 year chart with % gains at any point along the way

In the LONG TERM Gold has Outperformed the HUI substantially

In the first half of the Bull ( up to the Crash) HUI was outperforming to varying degrees

BUT you needed to be agile and sell and go away at precise times to maximize the leverage

Lets face it NOBODY sells Gold Stocks when they are doing well.

Bottom line:

…For Dependable Steady Safe Gains ….Gold !

….for a wild ride to parts unknown …..Gold Stocks