Posts filed under “Markets”
“Never try to teach a pig to sing- it wastes your time and annoys the pig.” – Robert A. Heinlein, The Notebooks of Lazarus Long
Whenever I write about Gold, the pushback is always robust. Yesterday’s column How Low Can Gold Go? was no different. As a public service, I thought I would address the feedback, criticisms and complaints amongst the many emails and comments I received.
Some of the commentary was worthwhile discussions related to investing in general and precious metals in particular. These insightful souls seem to always generate inspiring food for thought. Their comments help me clarify my thinking on trading and commodities.
Unfortunately, those folks are the exception. The bulk of the pushback comes from people who have been long and wrong, and refuse to hear from any source suggesting they are on a bas trade. The attitude seemed to be along the lines of “Who are you going to believe, me or my lying P&L? Quite an astonishing collection of denial
Before we continue, one quick note to commenters: It is astonishingly easy to tell when a commenter did not read the column and is merely responding to the headline, which is typically written by an editor. Believe me, after 30,000 blog posts, you can tell at a glance which comments had nothing whatsoever to do with your column.
Note original comments/emails are in italics, and my comments follow:
On to the pushback:
Succinct Summation of Week’s Events: Positives: 1) US economy added 248k net new jobs in September; two prior months were revised up by a total of 69k. 2) Unemployment rate falls two tenths unexpectedly to 5.9%, the lowest since July ’08. Average weekly hours ticks up to 34.6, the most since May ’08. 3)…Read More
The US, together with 5 Arab nations, launched air strikes against ISIS in Syria. Whilst positive that a number of Arab states are participating, this is going to be a long campaign. The Chinese finance minister, Mr Lou Jiwei, stated that growth faces downward pressure, though China will not make major policy changes to compensate….Read More
Succinct Summations week ending September 26th Positives: 1. New home sales came in at 504k vs expectations of 430k which was the biggest beat relative to expectations since May 2010. 2. Core durable goods rose by 0.7%, the plunge in headline orders was not unexpected. 3. China’s Shanghai Composite had a new one-year closing high…Read More
Succinct Summations week ending September 19th Positives: 1. S&P 500 and the Dow made new all-time highs. 2. Initial jobless claims fell 36k last week to 280k, the lowest number in 7 years. 3. NAHB housing market index came in at 59, up from 55 in August and the highest reading since 2005. 4….Read More
Source: FT Europe is experiencing a reversal. The Financial Times writes: The withdrawals brought to an end 12 months of almost continuous inflows, powered by confidence that the eurozone debt crisis had retreated and that the region’s economies were returning to growth. In the 12 months to July, assets under management at EPFR-tracked European…Read More