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Category: Your gold story

What’s your gold story: Ronald-Peter Stöferle

Ronald-Peter Stöferle is managing partner of Incrementum AG, responsible for Research and Portfolio Management. He studied business administr...

10 December 2020


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Ronald-Peter Stöferle is managing partner of Incrementum AG, responsible for Research and Portfolio Management. He studied business administration and finance in the USA and at the Vienna University of Economics and Business Administration. On graduation, he joined the research department of Erste Group, where in 2007 he published his first In Gold We Trust report. Over the years, the In Gold We Trust report has become one a benchmark publication on gold, money, and inflation. Since 2013, he has been Reader at Vienna’s scholarium and he also speaks at Wiener Börse Akademie (the Vienna Stock Exchange Academy). In 2014, he co-authored the international bestseller “Austrian School for Investors”, and in 2019 “Die Nullzinsfalle” (The Zero Interest Rate Trap). He is an advisor for Tudor Gold Corporation and a member of the advisory board of Affinity Metals. He is also an advisor to Matterhorn Asset Management. Ronnie is married and the proud father of three daughters. He spends his spare time with his family, watching and playing football, running, and at classical concerts.

“In Austria it’s normal on birthdays or at Christmas to receive small gold coins, e.g. ducats, from your grandparents. The generation of my grandparents experienced several currency reforms and the consequences of two world wars; for them gold has a different value than for the younger generation. I owe them my initial interest in gold.

My professional fascination with gold began when I bought shares in a small junior explorer called “Osisko Exploration” on the recommendation of a friend. The stock turned into a ’40-bagger’, i.e. it increased in value by 40 times the original value. I went to my boss at the bank where I worked as an equity analyst and asked him if I could write a special report on gold. “Gold is always good, Ronnie”, he said, and that was the birth of the first In Gold we Trust report. From then on I started to study the monetary system, inflation, mining stocks and the Austrian School of Economics intensively. None of these topics are taught in schools or at university. Suddenly I saw many things from a completely different perspective.

Since then I have been writing the In Gold we Trust report for 14 issues and it has become one of the most widely read gold studies. They are usually very detailed; the 2020 report, ‘The Dawning of a Golden Decade’, is more than 350 pages long. I am fascinated by gold and everything around it and I am always discovering new approaches, ideas and perspectives”.

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