Hey Frank,
I sure hope we're right on this one my friend. :)
Little hint of pessimism there? Welcome back! Hope you took long enough, but sometimes more short term getaways work better than one long one. Sort of like Mr. Market. In the unlikely event that PM's melt down and your holding which has gone from strength to strength does as well, you'll still get out with a nice potful. <VBG>
Will tomorrow bring the start of a high volume mutual fund redemption phase. Will a trickle of that look at the falling $US and go to gold. Lots of talk that equities had outpaced POG, and perhaps six weeks ago that was true, but nothing goes straight up or down. Seems out of cycle, but any breakout in the equities clarifies things.
Just to show how bad it is, I never thought I would see this admission by a mainstream fund in a mainstream media outlet.
As a measure of how widespread the concern has become, Gavin Graham, director of investments for the mutual fund company, Guardian Group of Funds Ltd., said he's had three colleagues ask him in the last week for personal advice.
"They just got their June RRSP statements and said, `Wow, I'm way down.'"
thestar.com
Regards
Bob |
