James Altucher Believes Kingold Is A Winner

In

, James Altucher said although he hates investing in gold/GLD, there is one gold stock that he has been buying and is excited about as it plays on multiple “tidal-wave-sized demographic trends.” James believes that Kingold

, which is the leading designer and manufacturer of 24 karat gold jewelry in China, has all the characteristics of a potential ten-bagger. KGJI has impressive revenue and earnings growth. While it had earned roughly $6 million in 2008 and approximately $9 million in 2009, its earnings in 2010 may be somewhere in between $20 million and $25 million. Moreover, the company has a low multiple. Kingold is operating in a market that has grown 400% between 1993 and 2008. Moreover, jewelry is the third largest consumption item in China, next only to autos and housing. The company has not restricted its operations in any one province. It markets to 15 different provinces within China. Read more