Dow Theory Letters
Editor: Richard Russell
Since 1958
Frequency: Every three weeks
Trial subscription: Two issues for $1
Annual rate: $250
Dow Theory Letters, Inc.
P.O. Box 1759
La Jolla, CA 92038-1759
Tel: (858) 454-0481
Web site: http://www.dowtheoryletters.com
E-mail: staff@dowtheoryletters.com

Richard Russell gained wide recognition for a series of technical articles in Barron’s, beginning in 1956. He founded the Dow Theory Letters (DTL) in 1958 and has been at it ever since (never once having skipped a Letter). His record speaks for itself: He recommended gold stocks way back in 1960. He called the top of the 1949–66 bull market and—almost to the day—the beginning of the bull market that started in December 1974. Hulbert Financial Digest ranks DTL first on a risk-adjusted basis among all market-timing newsletters over the past twenty-three years. Published every three weeks, DTL covers the U.S. stock and bond markets, along with foreign markets, precious metals, and commodities. One of the most useful features of the Letter is Russell’s daily Primary Trend Index (PTI), a proprietary index that has been an amazingly accurate predictor of near-term market moves. Recently, Russell has become a raging gold bull. His take is basically the same as ours: Gold is money, fiat currencies are not, and the difference will become increasingly apparent in coming years. As he noted in a recent interview, “It’s simple— central banks are generating vastly more paper than the gold mines can produce in comparable gold values. . . . Now is the time to accumulate gold and gold stocks.” On his seventy-ninth birthday in July 2003, he sold all his bonds, because “the U.S. is heading for maybe the greatest financial mess in world history.”

ElliottWave Theorist
Editor: Robert R. Prechter Jr.
Since 1979
Frequency: Monthly
Trial subscription: NA
Rate: $20.00 month
ElliottWave International
P.O. Box 1618
Gainesville, GA 30503
Tel: 800-336-1618 or, outside the U.S., 770-536-0309
Fax: 770-536-2514
Web site: http://www.elliottwave.com
E-mail: customerservice@elliottwave.com

Robert Prechter is the author of the best-seller “Conquer the Crash.” His analytical approach is based on the discoveries of Ralph Nelson Elliott, who in the 1930s and 1940s noticed repeating patterns in the prices of various commodities. Elliott noted that the patterns repeated on different temporal and numerical scales and seemed to reflect market participants’ mental states. From this he deduced that investors go through regular, predictable mood swings, from cautious (as in the 1950s) to risk tolerant (the 1980s) to downright euphoric (the 1990s).This last stage leads to a crash, after which the cycle begins again. The same repeating pattern governs the movement of commodities and stock prices, and in his ElliottWave Theorist newsletter, Prechter analyzes these waves to generate forecasts for both near-term prices and long-term economic activity. His work is thus useful for both traders and investors, along with those who simply want a framework for understanding the modern world. And his main conclusion is that we’re entering a downturn that will rival, if not surpass, the Great Depression. Gold, he says, may not do well in such a deflationary scenario. But readers should overlook this point in light of his great analysis of the big picture.

Freemarket Gold & Money Report
Editor: James Turk
Since 1987
Frequency: 20 letters annually plus occasional interim reports
Trial subscription: $60 for 3 months
Annual rate: $220 for e-mail delivery, or $260 for hard copy by mail
1857-240 White Mountain Highway
P.O. Box 5002
North Conway, NH 03860
Tel: (603) 323-8182
Fax: (603) 323-8161
Web site: http://www.fgmr.com
E-mail: contact@fgmr.com

The Freemarket Gold & Money Report offers an international perspective on the precious-metals and financial markets. Each letter provides buy and sell recommendations on gold, silver, mining stocks, stock markets, bonds, and currencies. Published by GoldMoney’s James Turk, FGMR is one of the oldest precious-metals newsletters, and deals with many of the same issues covered in “The Coming Collapse of the Dollar.”

GoldAndOilGuy
Editor: Chris Vermeulen
Frequency: Monthly
Trial subscription: NA
Annual rate: $299
10126 Hwy 26 East, RR#2
Collingwood, ON, L9Y3Z1
Canada
Tel: 705-888-2384
Web site: http://www.thegoldandoilguy.com
E-mail: Chris@goldandoilguy.com

GoldAndOilGuy founder Chris Vermeulen shares what he characterizes as a low-risk, high-return trading system for gold, oil, and silver.

GoldInsider – Insights to Profit
Editor: John Lee, CFA
Frequency: Monthly
Trial subscription: Three months free
Annual rate: $199 per year, $299 for lifetime
Mau Capital Management LLC
2106 Whalen Drive
Pt. Roberts, WA 98281
Tel: 1-800-358-5865
Web site: http://www.goldmau.com
E-mail: administration@goldmau.com

John Lee, CFA, manages the Golden Omega precious metals fund at Mau Capital Management LLC. He has degrees in economics and engineering from Rice University and is a former student of GoldMoney’s James Turk. He founded Mau Capital Management in 2004.

Gold Mining Stock Report
Editor: Robert Bishop
Since 1983
Frequency: Approximately 50 alerts e-mailed or faxed
Trial subscription: US$250 for 3 months
Annual rate: US$1000
P.O. Box 1217
Lafayette, CA 94549
Tel: (925) 284-1165
Fax: (925) 891-9188
Web site: http://www.goldminingstockreport.com
E-mail: info@goldminingstockreport.com

Robert Bishop travels the world to inspect new mines and interview management teams. His goal is to discover emerging miners that go on to become big ones—or sell out to big ones at a nice profit. He succeeds consistently. With fifty alerts per year, this is the most frequently updated newsletter on our list. Each update offers a concise rundown of current events in the gold market, along with analyses of several emerging miners.

Gold Newsletter
Editor: Brien Lundin
Since 1971
Frequency: 12 letters annually
Trial subscription: Free issue available online
Annual rate: $198
2400 Jefferson Highway
Suite 600
Jefferson, LA 70121
Tel: 800-877-8847
Fax: 504-837-4885
Web site: http://www.goldnewsletter.com
E-mail: gnlmail@jeffersoncompanies.com

Founded in 1971 as the principal tool in Jim Blanchard’s fight to return the right of private gold ownership to American citizens, Gold Newsletter has, in its 30-plus years of continuous publication, featured contributions from many of the modern world’s leading free-market economists and investment analysts.

Now edited by Blanchard’s longtime partner and associate, Brien Lundin, Gold Newsletter focuses on mining stocks involved in exploration and preproduction but also does a good job of covering the metal markets themselves. It features guest commentary from speakers at the New Orleans Investment Conference, and its “Potpourri” section remains an industry favorite. But its main attraction is the sheer volume of its stock recommendations. The sample issue available on its Web site in early 2004 was sixteen pages long, with profiles and/or analyses of twenty-three mining stocks. In a typical issue, expect to see a few well-known names but far more new ones.

Gold Stock Analyst
Editor: John Doody
Since 1994
Frequency: Monthly
Trial subscription: Sample issue available online
Annual rate: $350
P.O. Box 7440
Ft. Lauderdale, FL 33338
Tel: Order service at 800-237-8400, ext. 308
Web site: http://www.goldstockanalyst.com
E-mail: goldstock@goldstockanalyst.com

Gold Stock Analyst is so loaded with data that subscribers tend to hoard back issues and refer to them when doing further research. Each issue contains tables listing the vital statistics (earnings, production levels, production costs, and much more) for virtually every gold, silver, and platinum miner of note. Ditto for the gold market in general: Doody keeps subscribers abreast of supply/demand trends, bullion bank short positions, and the relative valuations of stocks and bullion. And then, of course, he offers detailed analyses of half a dozen or so gold miners of various sizes and profiles.

Gold Stock Bull — Road Less Traveled
Editor: Jason Hamlin
Since 2006
Frequency: Monthly
Trial subscription: Free 30-day trial
Annual rate: $420
11 S. Venice Blvd., Suite 303
Venice, CA 90291
Tel: 310-717-8828
Web site: http://www.goldstockbull.com
E-mail: jason@goldstockbull.com

Jason Hamlin is a former technical analyst for AC Nielsen and consultant to fortune 500 companies who now devotes himself to the precious metals markets. He’s a prolific speaker and writer whose articles have appeared on Kitco, Gold-Eagle, 321Gold, Seeking Alpha and elsewhere.

Gold Stock Technician
Editor: Frank A. Barbera, Jr. CMT
Since 1992
Frequency: Weekly, plus flash updates
Trial subscription: Free samples upon request
Annual rate: $340
Gold Stock Technician
P.O. Box 47082
Los Angeles, CA 90048
E-mail: FrankBGST@aol.com

Frank A. Barbera Jr, CMT is a veteran money manager who has had a hand in running several hedge funds, building a reputation sufficient to warrant a profile in the 2006 book “Master Traders: Strategies for Superior Returns from Today’s Top Traders”. He also appears frequently on sites like Financial Sense with some of the best in-depth reporting on the Web. With the Gold Stock Technician (GST) Barbera uses technical indicators to analyze precious metals and mining stocks, as well as oil and the overall market. Highly recommended for traders who like to move in and out of these markets.

Grant’s Interest Rate Observer
Editor: James Grant
Since 1983
Frequency: 24 issues
Trial subscription: 8 for $350
Per issue download: $50
Annual rate: $760
2 Wall Street
New York, NY 10005
Tel: (212) 809-7994
Fax: (212) 809-8492
Web site: http://www.grantspub.com
E-mail: subscriptions@grantspub.com

James Grant founded the Interest Rate Observer in 1983, after an eight year stint at Barron’s, where he originated the “Current Yield” column. He’s the author of four books on finance or financial history, including “Money of the Mind” and, most recently, “The Trouble with Prosperity.” He currently writes a monthly column in Forbes.

Grant’s Interest Rate Observer has a big-picture focus and a generally unique take on current events. Recent issues have featured detailed analyses of how banks are making fundamental mistakes that will lead to their undoing, how homeowners are overborrowing, how innovations like securitization and mortgage REITs are leading us to ruin, the relationship between stock prices and inflation, and the changing profile of central bank balance sheets. The list goes on, seemingly forever, since Grant’s ability to see patterns and analyze previously unexplored relationships in finance and business appears to be endless. And, icing on the cake, his newsletter is beautifully written, with a lot of bitingly funny cartoons.

J.Taylor’s Gold & Technology Stocks
Editor: Jay Taylor
Since 1986
Frequency: Monthly
Trial subscription: $39 for three months
Annual rate: $123
P.O. Box 871
Woodside, NY 11377
Tel: (718) 457-1426
Web site: http://www.miningstocks.com
E-mail: info@miningstocks.com

A former Wall Street gold-mining analyst, Jay Taylor covers the whole spectrum of mining companies, with an emphasis on juniors. And he’s been quite successful at finding emerging miners before they emerge: The newsletter’s sample portfolio outperformed gold itself by 20 percentage points a year in 2002 and 2003.Taylor offers a weekly telephone hot-line message that covers late-breaking news on the economy, gold, and his favorite stocks. But the main attraction is his in-depth but still quite readable reports, in which he explains in clear terms what an emerging miner is doing and whether it’s likely to succeed.

International Harry Schultz Letter
Editor: Harry Schultz
Since 1964
Frequency: Monthly
Trial subscription: 8-month trial US$241
Annual rate: US$327
P.O. Box 622
CH-1001 Lausanne, Switzerland
Tel: 011 506 271 2293 (from U.S. or Canada), 00 506 271 2293
(from any other country)
Web site: http://www.hsletter.com
E-mail: info@hsletter.com

No wallflower, Harry Schultz describes his letter as “the world’s premier international investment, financial, economic, geopolitical, privacy, sociological and philosophical newsletter.” But as the saying goes, it’s not bragging if you can back it up. And Schultz’s newsletter is in its fortieth successful year, with subscribers in eighty nations and a good overall record of both macro and stock-specific calls.

Based in Switzerland, Schultz draws on the analysis of correspondents in many countries and a first-rate in-house research staff. His newsletter casts such a wide net that to characterize it in a few sentences is impossible. Suffice it to say that it’s a great overview of the world as seen through a sound-money lens, and a useful source of “how-to” information on diversifying out of dollars and into more promising currencies like the Swiss franc. One especially good recent quote: “A mega-derivative squeeze is coming . . . which will shred the present day gold cartel into confetti.”

International Speculator
Editor: Doug Casey
Since 1979
Frequency: Monthly
Trial subscription: NA
Annual rate: $199
P.O. Box 84911
Phoenix, AZ 85071
United States
Tel: (602) 252-4477; toll-free: (800) 528-0559
Web site: http://www.caseyresearch.com
E-mail: isp@publishers-mgmt.com

Doug Casey is the author of Crisis Investing, one of the best-selling financial books of the 1970s. Using what he calls a “rational speculation” strategy, he attempts to reduce excessive risk by identifying companies with the strongest management teams, shareholder-friendly capital structures, and promising properties.

These days he’s focusing on well-managed junior exploration companies “that offer multiple opportunities to profit, for example when acquiring an attractive mineral concession, or reporting successful drilling results, or penning a joint development deal with a deep-pocketed large mining company.” Any of those events, says Casey, has the potential to send a junior exploration company up by double or even triple digits, literally overnight.

Le Metropole Café
Proprietor: Bill Murphy
Since 1998
Frequency: Several times per week
Trial subscription:Two weeks free
Annual rate: $149
Web site: http://www.lemetropolecafe.com

Le Metropole Cafe is a members-only “online community” modeled after early twentieth century French cafés like the Moulin Rouge. The idea is to create a space in which, as the home page puts it, “investors from all over the world can meet to discuss the vibrant economic and financial issues of the day.”

Led by Gold Antitrust Action Committee co-founder Bill Murphy, Le Metropole’s team conducts an ongoing, high-level discussion of everything from global monetary policy to the ins and outs of metals trading. Not surprisingly, given Murphy’s GATA connection, a central topic of debate is the war between the world’s central banks and gold.

And because it’s a Web site, it’s interactive. You can join the discussion by adding your own thoughts to the many “posting forums.” In August 2004, there were active threads on dozens of topics, ranging from how to buy silver coins to the machinations of the Russian central bank. The result, as Forbes magazine recently noted, is a certain amount of hot air, but far more insight and excitement.

Moneychanger
Editor: Franklin Sanders
Since 1980
Frequency: Monthly
Trial subscription: None, but full refund after three issues if not satisfied, prorated refund after that.
Annual rate: $149.00
P.O. Box 178
Westpoint,TN 38486-0178
Tel: (888) 218-9226
Web site: http://www.the-moneychanger.com
E-mail: moneychanger@compuserve.com

Franklin Sanders uses his Moneychanger newsletter to offer a wide-ranging critique of the current system, along with advice on everything from Christianity to alternative health. But his main focus is precious-metals investing, and his newsletter features interviews with luminaries like Le Metropole Cafe founder Bill Murphy and silver guru Ted Butler, along with advice on buying gold coins, profiles of major and emerging miners, analyses of the flaws in today’s banking system, and sophisticated options strategies. Sanders has also authored several books and pamphlets, including The Next Great Depression ($238), the Gold, Silver and Platinum Report ($38), and Silver Bonanza, coauthored with Jim Blanchard ($34).

Ormetal Report
Editor: Claude Cormier
Since 1996
Frequency: semimonthly (24 per year)
Trial subscription: Free issue available online
Annual rate: US$130 ($C199). Or pay with GoldMoney for a 10-percent discount.
Ormetal Inc.
15 Mathieu
St-Basile-Le-Grand, QC
Canada, J3N 1H2
Tel: (450) 653-5527
Fax: (450) 653-7020
Web site: http://www.ormetal.com
E-mail: info@ormetal.com

Ormetal’s Claude Cormier casts a wide net in his search for emerging mining stocks and has turned up winners from all over the world. But his unique strength is his knowledge of the Canadian market. A must-read for advice on Canadian gold and silver juniors.

Resource Opportunities
Editor: Lawrence Roulston
Since 1997
Frequency:Approximately 20 issues per year
Trial subscription: Sample reports available online
Annual rate: $169 ($225 CDN)
625 Howe St.
Suite 1290
V6C 2T6,Vancouver, BC
Canada
Tel: (604) 697-0026; toll-free: 877-773-7677
Web site: http://www.resourceopportunities.com
E-mail: info@resourceopportunities.com

Lawrence Roulston is a trained geologist with more than twenty years of firsthand experience in the resource industry, including several years as the president of a mining-exploration company. His newsletter is well written and easily accessible, with jargon-free prose and an insider’s perspective. He explores issues like the rise of China and the debasement of the dollar with clarity, but in enough depth to allow readers to understand the process. He also offers detailed profiles of what he considers the most interesting, least risky resource plays. “Resource Opportunities stays away from the riskiest of the juniors, those exploration companies that are simply rolling the dice on a drill play,” says Roulston. “Instead, the newsletter focuses on companies that have already outlined a deposit, but where more work is required to prove up a reserve.” Such miners “are typically valued at steep discounts compared to the larger producers. In fact, some of those small companies trade at values that equate to only a few dollars an ounce for gold in the ground. That compares to a typical valuation in excess of $100 an ounce for the major producers. [This] smaller company approach provides enormous leverage to the gold market. Your investment gives you the benefit of owning many more ounces than if you invested in a major producer.”

The Silver Investor Newsletter
Editor: David Morgan
Frequency: Monthly
Trial subscription: $60 for 6 months
Annual rate: $149 hard copy in U.S., $169 international, $99 email
Stone Investment Group
21307 Buckeye Lake Lane
Colbert,WA 99005
Tel: 509-464-1651
Web site: http://www.silver-investor.com
E-mail: silverguru22@hotmail.com

Silver Investor is the only newsletter listed here that focuses primarily on silver. Editor David Morgan’s emphasis is on silver-mining stocks, though he spends a fair amount of time on the macro environment. Past issues include analyses of silver stockpiles (they’re shrinking), the manipulation of the silver market by players trying to keep it cheap (why they’ll fail), the impact of digital photography on silver demand (minimal), and silver’s role in solving the energy crisis (pivotal). The heart of Silver Investor is Morgan’s “Model Portfolio,” which is divided into two sections: cash-rich mining companies and “silver speculations.” The list is relatively short, reflecting the currently small number of active silver plays.