TYpical comments from someone bullish on equities, he recommends buying shares in Sprint. I wouldn't touch Telco right now with new technologies everyday that threaten to take away revenue from the big Telcos. It's true we could see a correction in gold anytime but his comments about supply is not so simplistic. If citizens in China & India want to own a small bit of gold, that alone drives demand especially with so many threats in the world economics as they stand increassing fears. In addition. finding new reserves is not so easy. most of the easy to find resources are depleted. Noone can say how high gold will go or how many corrections there will be along the way, but most of these equity bulls were very bullish in 2008. I recall all the similar comments when gold was at $500.00. Does anyone recall Ackerman versus John Embry? It was great to listen to John Embry back then, but then he got hit because of the great drop in small cap mining stocks. Now however his predictions for gold have been greatly revived. As for Ackerman he said his grandkids would never see $550.00 gold and of course he had to eat those words. Yes, every dog has his day I guess, but I'll stick to gold for a now and he can keep his so called cheap equities.