ZH comments: Gross doesn't believe that gold is a crowded trade at this point.
Has Mr. Gross been reading Zero Hedge?
Paul McCulley, where are you now. Better give your old buddy, Bill, some advice before he blows up PIMCO.
Looks like it's getting close to the time to short gold with all the morons jumping on board.
Not that I don't think that gold has a future in an expanding global economy, but nothing rises linearly without corrections. Too much talk now of gold as "sure thing" for the contrarian in me.
Not that I don't think that gold has a future in an expanding global economy, but nothing rises linearly without corrections. Too much talk now of gold as "sure thing" for the contrarian in me.
Zero Hedge
The “Bond King”: Buy Gold, Not Bonds
Submitted by George Washington
He's all like, "GTFO, I want cheaper bonds to buy."
ReplyDeleteMarshall Auerback about a month ago...
ReplyDeletehttp://www.theaureport.com/pub/na/14066
I agreeg with Marshall's assessment then, and still do. I also am pretty sure that markets don't always go up, based on historical precedent.
ReplyDeleteMarkets fluctuate depending on the tug of war between bulls and bears. When one side of the seesaw gets heavy for some time, then a shake out generally is in store.
The gold market is an especially quirky market because it is not an investment that one can measure in terms of benchmarks like return. Many people into gold consider it the benchmark.
Is gold way out of synch with the historical gold/silver ratio and like to fall back in line, or is silver way behind and sure to catch up? How would one assess this?
To the questions at the end of your comment… I have no idea. This post just reminded me of that Auerback interview.
ReplyDeleteJK, To the questions at the end of your comment… I have no idea. This post just reminded me of that Auerback interview.
ReplyDeleteThat was a rhetorical question, not one addressed at anyone in particular because there is no answer. Without criteria other than historical data that could manifest itself forward in unpredictable ways depending on many factors, some unknowable, questions about such matters are open, and those markets are crap shoots.