my friend, a physical fuel trader, is praying for 500 and below, along with a lot of other folks
an observation, each month he waits, he can buy one more top of line Ferrari from interest income on his 100% cash allocation, which means when he starts buying gold, he can buy a lot more than previously planned allocation (15%) and/or can afford to pay more for gold
another pal, head asia bonds guy in global finance entity, grilled me on the abc's of gold logic, accumulation mechanisms, ways and means etc over one-on-one lunch about 10 days ago ... unusual for a paper shuffler who had been listening to my rants over the years and giggling all along the way
yet another, whose kids' accounts I directly manage as a favor, had seen some of my in/out trades in GLD, PAAS, HMY, and Yamana in the accounts, wrote to ask why I do not buy in wallop tranche size
but generally, most folks (and none of them have any gold) i hang with believe gold (a) has had its day in the sun, (b) is too late to get into, and/or (c) is too troublesome to buy
and so i am bullish. gold is not a crowded trade.
i can understand why ... it is useless, and has no correct price, which is precisely why we must treasure it :0) |
