Thursday, August 18, 2011
The Other Side...
I always smile when I see some mainstream article about a market rout or discussion of a market swoon on "TOUT" (i.e. sucker) television. They love to show a distressed professional trader on the stock market trading floor after the markets are down. Something like this:
The flip side of this guy is the Gold bull out there with physical metal that knows enough not to trust the stock market. For every sad guy (and gal) on the NYSE floor getting hammered, there are others out there growing in number that look like this:
Sorry, but we traders and investors out here ain't all fraught with despair over the current market movements. Those crazy, weird people who invested in shiny hunks of metal with no intrinsic value (according to CNBC) are doing quite well, thank you.
And as the Dow to Gold ratio descends upon 2, and we may well go below 1 this cycle, we out here eating physical Gold will continue to smile at not falling for the fraud that is known as Wall Street and for doing our homework on where we are in this economic cycle from a long-term perspective.