Not that I am a fan of his, but in his defence, his point is that these are the only two sectors that offer clarity under the prevailing market conditions (both fundamentally and technically); AND maintain a sector-wide consistent long term pattern.
Not really. Look at Sappi - It has done nothing but fall. Look at Didata. The list goes on and on. I am not the world's biggest gold fan BUT I have 1oz coins that sI tarted buying for R200, 20 years ago. A very "multi-year" view and a form of insurance. The trend has been up. My point is that Roffey has held his stance on gold for many years - and has been correct throughout. The problem is that this forum is dominated (understandably) by traders and they work with a very different time frame in mind. Where Roffey went wrong was with the gold shares - and he just can't seem to let go.. But who knows, maybe he will make fools of us all, yet.
Come on guys - facts please. Before the 2008 crash, he was pushing commodity stocks like it was going out of fashion. He was certainly "bullish" at the time. Granted his favourite was still the gold shares but that madness runs deep. As it stands - from a fundamental point of view - where is the growth coming from? Stock pickers will do well no doubt. Fleet-footed traders will make hay. General investors - committed to an index - or the largest issues whose prices that index tracks closely, may find the coming years very unrewarding.