By Dan Ferris in the S&A Digest:

[O]ne of the most dyed-in-the-wool value investors, Lloyd Khaner of Khaner Capital, recommended buying gold at the Value Investing Congress. It's unusual to see a detailed presentation on gold at a value conference. Khaner hit all the usual buttons, too: Hedge against paper currencies, 5,000-year history as a store of value, gold is nobody's liability...

Khaner's been buying gold since 2004, so he's done well. He's obviously not done with it yet. He owns ETFs and mentioned a small gold stock he didn't want to name.

Still, if you took a random survey, nine times out of 10, I bet most folks would tell you they don't own gold. They'll probably put their life savings into it when gold hits $5,000 an ounce and Treasury bonds are yielding 15%.

Crux Note: Dan Ferris is the editor of Extreme Value, and he recently found the only junior gold stock that's safe enough and cheap enough to be an Extreme Value recommendation. To access this recommendation, click here.

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