These 'sound money' assets will 'come back with a vengeance' - Lawrence Lepard

Several “sound money” assets are undervalued right now, and are long overdue for a major comeback, said Lawrence Lepard, managing general partner of Equity Management Associates.

In particular, mining stocks are grossly undervalued, Lepard noted. In fact, analysts are not using valuing mining stocks using $1,800 an ounce for gold; $1,650 is the norm for discounted cash flow models.

The day gold breaches $2,000 an ounce again is when these mining stocks will “come back with a vengeance,” Lepard told David Lin, anchor for Kitco News.