Bulls, Bears & PiiGs
By Barry Ritholtz - July 27th, 2011, 7:24AM
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Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
July 27th, 2011 at 7:31 am
[...] Bulls, Bears & PiiGs [...]
July 27th, 2011 at 8:42 am
looks like a good presentation & with you live in front punching points better yet
LOL @ #16 telephone line
July 27th, 2011 at 3:00 pm
Gold is a trade?
Bought gold in 2002-2004 at average cost of $344/oz… haven’t bought or sold since then… 365% gain in 8 years… not what I would characterize as a trade.
Most people who own physical gold would characterized gold as a store of value, as a hedge, or as insurance… not as a trade.
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BR: I heard the same thing from guys who bought gold in 1978 at average cost of $382/oz… haven’t bought or sold since then…
July 27th, 2011 at 7:26 pm
Well… gold bought in 1978 at $382/oz would have gained 325%… not a fantastic investment, but a decent store of value while simultaneously providing financial collapse or currency revaluation insurance.
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BR: 1982 – 2000 saw equities gain 1447%
July 27th, 2011 at 8:13 pm
“BR: 1982 – 2000 saw equities gain 1447%”
Yes… and the bulk of your investment should be in equities… as mine is.
But some gold in your safety deposit box makes for good insurance… but trading it, in my view, doesn’t make sense. Apparently you agree with this since you haven’t bought or sold since 1978.
You sure wouldn’t want to be “out of the trade” if there is a 100 for 1 USD currency revaluation, for example.
By the way, GLD, due to counterparty risk, is not a substitute for physical gold in its role as currency collapse insurance.
Your platinum, if held in physical form, should work equally well as gold.
July 28th, 2011 at 9:49 am
” should be in equities… as mine is”
ya but if the economy is being wrung out .. and many live day to day .. are you wondering when the herd of WWII surviver boomers wish whats left of their retirement nest egg back into cash … and what happens next with corporation ownership ratios .. I do .. labor churn & tides will always be
September 23rd, 2011 at 3:01 pm
[...] In the presentation I made at the Agoroa conference in Vancouver, I titled one section “Gold is a Trade, Not a Religion.” We also noted that Diverging ETFs: What Are GLD & SPY Telling Us ? (August 23rd, [...]