The Silver Bull Market : Investing in the Other Gold

From one of the world's most respected authorities on precious metals investment--a thoroughly researched volume on the investment prospects for silver, the other gold. After outperforming virtually all other investments for more than a decade, gold is being reincorporated into the financial system as an asset deserving a position, large or small, in mainstream diversified portfolios. Leaving aside the metal's rediscovered diversification benefits (it tends to go in the opposite direction when stocks go down sharply), gold has risen as a viable investment alternative in today's environment of unhinged global government spending and monetary expansion. While silver has risen as well--even more than its sister metal over the last decade--it has remained gold's shadow investment for important reasons. For one, its smaller market and higher volatility have kept most financial professionals away, as the metal is often regarded as a highly erratic investment best left to speculators. There is also the memory of the 1980s and '90s bear market, precipitated, in part, by the illegal attempt by two wealthy families to corner the silver market, which led to the metal's darkest day, March 27, 1980. While gold has more than doubled in value since its 1980 peak, silver remains substantially below the all-time high it reached more than three decades ago. In The Silver Bull Market , Shayne McGuire examines vital considerations about silver alongside the significant drivers of the metal's bull market. Although silver moves closely with gold, it differs from its sister metal in that more than half of demand is derived from multiple industrial processes. While its significant reliance on film photography has ended, today silver's industrial demand is driven by technological progress: brazing alloys and solders, smart phones, tablets, plasma panels and new applications like silk-screened circuit paths and radio frequency ID tags, photovoltaics (solar panels) and new medical applications: silver is both biocidal and highly conductive. Though Warren Buffett disdains gold for its lack of utility, he regards silver differently: in the late 1990s he purchased 130 million ounces, one-fifth of global production at the time. Manager of the first gold fund launched within the U.S. pension system and author of two books about gold investment, McGuire: * Outlines what he regards as 13 key drivers of silver investment for the years ahead, including its deep connection to the ongoing electronic revolution (as a key industrial input), its strong correlation with gold, and its high sensitivity to an increase in potential inflation in the future * Provides an investment history of the metal, which considers the key reasons for its separation from gold in the 19th century, the impact of the decline of film photography, as well as the end of the 1970s bull market * Thoroughly examines the risks related to silver investment, particularly its higher volatility than gold and its behavior at key financial moments that have affected the investment

Praise for The Silver Bull Market: Investing in the Other Gold

"Shayne McGuire has written the definitive book on silver's role as an investment and an important part of any well-diversified portfolio. McGuire offers economic, historical, and technical analyses that all indicate silver's best days are yet to come. He stands apart from the apocalyptic crowd by offering facts, figures, and analysis in lieu of mere doom-and-gloom. His case for investing in silver is both fascinating and compelling. Savvy investors will read this book now before the coming inflation starts to make their paper wealth disappear."
—James Rickards, author of the national bestseller Currency Wars: The Making of the Next Global Crisis

"Shayne McGuire covers all the bases in his new book, The Silver Bull Market. The book lays the fundamental case why millions of people and increasingly, institutional investors, recognize silver's intrinsic worth and include it in their portfolios. Virtually every manner in which to buy silver is addressed in the book, and more importantly, the pros and cons of each are dissected. I recommend this book to the avid silver investor and the budding white metal investor as well."
—Michael DiRienzo, Executive Director, The Silver Institute

"The message provided by McGuire's The Silver Bull Market is well explained. I would recommend it for both novices and professional investors."
—Eric Sprott, Chairman and founder, Sprott Inc.

"As he did so effectively in his prescient first books, Buy Gold Now and Hard Money, written when the yellow metal was trading for a fraction of its present value, Shayne McGuire is now presenting the bull case for 'the other gold.' Not surprisingly, his narrative is intellectually accessible, cogent . . . and compelling. If silver's history—and the author's track record—are any guides, investors and consumers alike would be well advised to heed Shayne's conclusions."
—Thomas Kaplan, Chairman, Tigris Financial Group

"In this book, Shayne McGuire offers a comprehensive review of silver. While the investment case is similar to that of gold, there are important differences as well. For anyone considering a commitment to silver or silver mining equities, The Silver Bull Market should be required reading."
—John Hathaway, Portfolio Manager, Tocqueville Gold Fund

"Shayne McGuire has done it again. In The Silver Bull Market, Shayne presents a rich and detailed portrait of the 'restless metal.' As in Hard Money, he covers all aspects of the silver market and most importantly, he does it from an investor's point of view. This is an insightful analysis of the investment merits and risks of including silver in an investment portfolio. Shayne addresses the key question: can silver return to its former price relationship with gold? This book is another feast for those interested in precious metals."
—Caesar Bryan, Portfolio Manager, Gabelli Gold Fund

**__From one of the world's most respected authorities on precious metals investment--a thoroughly researched volume on the investment prospects for silver, the other gold.__** After outperforming virtually all other investments for more than a decade, gold is being reincorporated into the financial system as an asset deserving a position, large or small, in mainstream diversified portfolios. Leaving aside the metal's rediscovered diversification benefits (it tends to go in the opposite direction when stocks go down sharply), gold has risen as a viable investment alternative in today's environment of unhinged global government spending and monetary expansion. While silver has risen as well--even more than its sister metal over the last decade--it has remained gold's shadow investment for important reasons. For one, its smaller market and higher volatility have kept most financial professionals away, as the metal is often regarded as a highly erratic investment best left to speculators. There is also the memory of the 1980s and '90s bear market, precipitated, in part, by the illegal attempt by two wealthy families to corner the silver market, which led to the metal's darkest day, March 27, 1980. While gold has more than doubled in value since its 1980 peak, silver remains substantially below the all-time high it reached more than three decades ago. In __**The Silver Bull Market**__, Shayne McGuire examines vital considerations about silver alongside the significant drivers of the metal's bull market. Although silver moves closely with gold, it differs from its sister metal in that more than half of demand is derived from multiple industrial processes. While its significant reliance on film photography has ended, today silver's industrial demand is driven by technological progress: brazing alloys and solders, smart phones, tablets, plasma panels and new applications like silk-screened circuit paths and radio frequency ID tags, photovoltaics (solar panels) and new medical applications: silver is both biocidal and highly conductive. Though Warren Buffett disdains gold for its lack of utility, he regards silver differently: in the late 1990s he purchased 130 million ounces, one-fifth of global production at the time. Manager of the first gold fund launched within the U.S. pension system and author of two books about gold investment, McGuire: \* Outlines what he regards as 13 key drivers of silver investment for the years ahead, including its deep connection to the ongoing electronic revolution (as a key industrial input), its strong correlation with gold, and its high sensitivity to an increase in potential inflation in the future \* Provides an investment history of the metal, which considers the key reasons for its separation from gold in the 19th century, the impact of the decline of film photography, as well as the end of the 1970s bull market \* Thoroughly examines the risks related to silver investment, particularly its higher volatility than gold and its behavior at key financial moments that have affected the investment From one of the world's most respected authorities on precious metals investment—a thoroughly researched volume on the investment prospects for silver, the other gold. Gold, outperforming stocks for over a decade, has finally been recognized as a serious asset class to be included in any solid, diversified investment portfolio. Considering present inflationary concerns related to accelerating fiscal crises in Europe, the United States and likely Japan in the years ahead, gold is widely held in the largest professionally-managed portfolios in the world. But silver, which has been moving in the same direction as its sister metal for forty years—and actually outperforming gold over the last ten years—has yet to be taken seriously in the investment world. Widely perceived as an erratic, unpredictable metal best left to speculators, silver has been disdained primarily for its volatility. Taking the long view, as well as a hard look at silver's investment demerits, Shayne McGuire examines current global financial conditions in order to provide a full and frank assessment of present and future opportunities for investors who may be considering buying silver. Silver is being rediscovered as a viable alternative to gold, and demand for the metal as an investment vehicle has risen sharply over the past few years Though more volatile than gold, silver is highly correlated with the more expensive metal and should continue moving in the same direction (as it has for thousands of years) Widely considered a precious metals expert within the institutional investor community and author of Hard Money: Taking Gold to a Higher Investment Level, McGuire manages a portfolio with over $850 million in precious metals investments While the investment literature is overflowing with books on how to invest in gold, this is the first serious book in decades offering expert insights, advice and guidance on investing in silver From one of the world's most respected authorities on precious metals investment-a thoroughly researched volume on the investment prospects for silver, the other gold. Gold, outperforming stocks for over a decade, has finally been recognized as a serious asset class to be included in any solid, diversified investment portfolio. But silver, which which has been moving in the same direction as its sister metal for forty years-and actually outperforming gold over the last ten years-has yet to be taken seriously in the investment world. Shayne McGuire examines current global financial conditions in order to provide a full and frank assessment of present and future opportunities for investors who may be considering buying silver Preface -- Acknowledgments -- Introduction: coming to terms with an unfamiliar investment, one of the world's oldest -- Silver moves with gold, a vital asset for these times -- Thoughts on future inflation : the risk of hyperinflation -- Silver's supply and demand dynamics -- Why poor man's gold is different from other inflation protection assets -- Conclusion: silver will rise with gold -- Further reading about silver -- Sources of information on present silver supply and demand -- Books and articles -- About the author -- Index From one of the world s most respected authorities on precious metals investment a thoroughly researched volume on the investment prospects for silver, the other gold.