UBS’s Matus Says ‘Too Much Money Too Hide’: Audio
Aug 5, 2011
Drew Matus, senior U.S. economist at UBS Securities in Stamford, Connecticut, says investors "are just hiding and headed for the sidelines."
Matus is worth listening to. Several things he brings up.
#1, it's all still about GDP, stupid!
#2, it's all still about earnings, stupid!
#3, remember what is a forward indicator and what is a backward-looking indicator, stupid!
#4, by the way: the money has nowhere else to go.
Very good guy to listen to, makes me a hell of a lot calmer. What the fuck is so important about debt and Euro contagion anyway?
In fact, if you've been listening to the right people instead of mass-media idiots and their blogging troglodyte lackeys, you'd have heard that Europeans are moving money out of banks and into gold.
Hm... and it used to be, gold producers were what you'd buy to get gold exposure.
Hm... and while the explorecos have been getting slaughtered, the gold producers haven't been falling much at all.
This is all one hell of a lot more informative to me than looking at a bunch of stupid charts with commentary which boils down to "well, it could go up from here... or it'll go down... if it goes down we'll sell, if it goes up we won't".