James Dines Original Goldbug Remembered by His Peers


James Dines

James Dines, monetary analyst, writer, and editor of The Dines Letter, died in April on the age of 90.

Colleagues paid tribute to the legendary goldbug and monetary analyst James Dines who edited The Dines Letter for greater than six a long time.

Brien Lundin, editor of Gold Publication, famous on April twentieth, “We simply realized that Jim Dines, a long-time pal of mine and of all buyers, handed away final week. Jim was a fully good market analyst and a real pioneer within the publication trade, and I’m glad that I had the chance to inform him so over the numerous years that I knew him. He can be vastly missed.”

Lex Column of the Monetary Instances famous, “Mr. Dines has accomplished for Technical Evaluation what Graham & Dodd has accomplished for Elementary Evaluation.”

Adrian Day, within the April twenty fourth challenge of Adrian Day’s World Analyst, wrote, “The editor of the long-time The Dines Letter and a fixture at gold conferences for many years, has died. An avid market technician and scholar of investor psychology, he known as himself “the unique gold bug,” and preferred to recount the story of how he was fired from Wall Road for recommending gold at $35 an oz. He was a showman, well-known for his gown, his humor, and for the “Dinettes,” engaging younger girls who would grace his sales space, guaranteeing a big gathering! I shared many a panel, and lots of a dinner, with Dines and he was all the time good firm.”

Gerardo Del Actual, on a podcast printed on April twenty sixth on Day by day Revenue Cycle, stated, “We misplaced an authentic in our area and a mentor to a mentor of ours. We misplaced Mr. James Dines. We should always all be so fortunate to reside the colourful, authentic, distinctive, lengthy life that that man lived. I do know he was someone that was an inspiration to lots of people approach earlier than my time. I am 43 years previous. In hip hop you say, Jay-Z’s your favourite rapper’s favourite rapper? Effectively, within the publication enterprise, he was your new favourite publication author’s favourite publication author. That is who Mr. Dines was.”

In the identical podcast, Nick Hodge added, “A protracted life, well-lived, over 90 years previous. And a improbable publication, properly written and well-published and long-lived as properly. I counted up the editions, month-to-month points, of The Dines Letter since 1960, over 730 of them. That’s some endurance. Had the braveness to go away his Wall Road agency to put in writing the letter to again the exhausting cash motion. And such as you say, I feel each publication author’s favourite publication author. I had the privilege of serving to him market the publication in a few of its later years. And naturally, we each obtained to satisfy him and colourful is the correct phrase, for certain. Everytime you requested him how he was doing, Mr. Dines, at the very least to me, would say, ‘By no means higher, my boy; it is an important day to be alive.’ And on his voicemail message would encourage you to ‘Have an important remainder of your day, no, have an important remainder of your life.’ And so [he] was all the time wishing one of the best for others as properly. And that is a part of the Excessive States that he wrote about in one in every of his books.”

James Dines started his profession as a junior safety analyst with Auerbach, Pollak & Richardson and rose shortly throughout the ranks of Wall Road. After simply two and a half years with AM Kidder & Co., he was promoted to a senior safety analyst. Dines started writing the agency’s weekly market letter, which only one 12 months later Kidder renamed The Dines Letter.

Dines’ contrarian views had been to change into legendary. In 1960, when gold was buying and selling at $35/ouncesand the value was fastened by the U.S. authorities, he predicted that gold would see a “historic bull market” and rise astronomically, to over $400/oz. In opposition to typical knowledge, over the subsequent 15 years gold rose to $486/oz, and in 1980 hit $850/oz, incomes him the moniker “The “Authentic Goldbug.”

Kidder fired Dines when he refused to surrender his bullish gold predictions. This led him to start publishing The Dines Letter independently, and he remained actively concerned with the publication till his loss of life.

In 1980, The Wall Road Journal wrote, “Metals mania vindicates such financial Cassandras as James Dines, who for years have urged funding in gold as a protected hedge in an inflation-weary world.” In the identical 12 months, Barron’s famous, “James Dines’ prediction—that the value of bullion would sometime cross the Dow-Jones Industrial Common—begins to appear like probably the most improbable funding calls on file.”

Through the years, Dines continued to make controversial calls that will come to fruition. Monetary Sense Wealth Administration notes that Dines, after a visit to China in 1977, “predicted that ‘China would dominate the twenty first Century’ after Mao died; he was the primary to prominently acknowledge the bull market in web shares; he predicted a ‘uranium increase’ when the steel was at $8/lb earlier than it rose as excessive as $138/lb; and a proponent of uncommon earth metals at their proverbial all-time low earlier than they skyrocketed.”

Dines authored a lot of books, together with, in 1972, one of many first books on technical evaluation, “How The Common Investor Can Use Technical Evaluation For Inventory Income.” A Barron’s Journal reviewer wrote, “It’s the most complete textual content ever written on the whole arcane discipline of funding evaluation. This guide was intentionally designed to draw the novice after which flip him into a professional. The established professional may study a lot from it.” Lex Column of the Monetary Instances famous, “Mr. Dines has accomplished for Technical Evaluation what Graham & Dodd has accomplished for Elementary Evaluation.”

Different books in Dines’ oeuvre embody “The Invisible Crash: What it’s, Why it Occurred, Defend Your self In opposition to It,” in 1975; “How Traders Can Make Cash Utilizing Mass Psychology: A Information to Your Relationship With Cash,” in 1996; “Secrets and techniques Of Excessive States,” in 2005; and “Goldbug!,” in 2009.

Dines served within the U.S. Military in navy intelligence, graduated from Oberlin Faculty, and acquired a regulation diploma from Columbia College.


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