- RING is an ETF that invests in global gold mining stocks.
- The fund is probably trading at close to fair value based on present expectations of earnings growth.
- I think that both gold prices and RING shares are going to coast through 2022.
- Avoiding tail-like statistical extremes (freak events), I think RING's fair valuation and moderate underlying return on equity will prevent significant upside for shareholders in the medium term.
- That is not to say that RING does not have any value in one's portfolio, as it could justify itself as a small position in case of a tail-like event (in the event that gold prices spike).
For further details see:
RING: Gold Miners Are Fairly Valued With Meager Upside Potential