If you look at the entire economic picture, the terrorism picture, the debt picture, the corporate trust picture, the valuation picture, the money supply picture, the hedging picture, the CB picture, the historical picture, and on and on, I cannot believe that everyone would not have a minimum 10% of their portfolios in gold/silver and gold/silver stocks. What possible reason could one offer other than a total refusal to examine the facts and that stupid, persistent belief in the new economy beginning a new history? Look at the stock market trends and how long they last. To say that this 2 1/2 year slide is over and a new bull is about to resume, is plain idiocy. It will take several more years to play out, and if so, gold and silver can only improve. To put 10% in this sector is common sense. IMO, to put a lot more is intelligence.
Of course, if you are only a trader and never go through a weekend with anything but cash, I guess there is no point in looking at the big picture. But anyone who has a portion of their portfolio that is "buy and hold", that portion should certainly include a hefty part of gold/silver.
How can anyone think that the debt, the high stock valuations, the terror, the trust, etc. will ALL just magically correct themselves in a short time frame? The stupidity is unbelievable. These problems (all of them) developed over many, many years. It ALWAYS takes a like time frame to correct such problems and imbalances.
I remain,
SOROS |
