"Remember that in spite of your self-described world-class acumen, your calls on PMs have been spectacularly and I do mean spectacularly and massively wrong."
What evidence can you present to support this contention?
How about silver going from the high 6s to 18ish in the 5 years since your 4/2005 post predicting that it would go to 3?
Here you go...proof.
silverseek.com
You also said this in the same April 2005 post:
The other PMs are in the same boat. Oil too. Gold may be propped up a bit as FED panics and lowers the fed funds rate, but don't be fooled, for gold will start the same persistent slow grinding decline too.
During the same period, gold went up more than 300%.
Is that enough proof? Is five years enough time or would you like another five so that the hands of the unerring clock get a bit closer to you?
More important, your calls on interest rates, which appear to be the basis of your bearish PM calls in 2005, have also been massively and spectacularly wrong. Don't feel too badly about it as, obviously, you did not have a clue that the financial house of cards we live in was going to have its foundations shaken, and that persistent low interest rates were going to be part of the so-called solution.
Look, this is not a competitive sport. Everyone can and does get things wrong. The man who admits his errors is the better for it. I'm wrong all the time [but I don't claim to be a world-class mucky-muck]. |
