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Thursday, January 14, 2016

The problem with stupid Americans buying gold to hedge downside risk


The problem with stupid Americans buying gold to hedge downside risk:


Is that Americans are stupid, and when the downside risk that they were piddling themselves over is gone, they puke the gold back into the market.

And tangentially, sure you know the S&P 500 is at a bottom when the press starts quoting Albert Edwards and some clown at RBS says "sell everything, buy disused nuclear bunkers".

But an even better tell is when mainstream talking heads suggest you buy gold to diversify and hedge downside. When that happens, you know the S&P is at a bottom.


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