It seems as though you have squeezed 6.2% of precious metals out of your portfolio, at a time when prices have been going through the roof. That would imply you sold off most of your previous 15.2% paper metals, but the price rises in the metals compensated to squeeze only 6.2% of the total.
This is of course counter intuitive to what the sheeple believe, and act on. Which begs the question where do you, the first bull ever, go from here?
A 'smart' person might surmise that these historic price rises on all precious metals are only because the big players are finally getting into the game, based on 2 observations:
- the USD is skidding against all currencies, esp Asian and commodities currencies (e.g. AUD, CAD, BRL and ZAR); and
- the precious metals are rising consistently upwards.
By the big players, I think central banks, SWFs, pension funds worldwide, and other institutions who were hitherto convinced that USTs were the ultimate and even only risk free instruments. I've been trying to get at the portfolio 'mix' of these institutions worldwide, even at an anecdotal level (eg buying/selling patterns), but can't find any.
So, I would like to enquire whether you still believe there will be a major correction in precious metals prices, and other than Bernanke finally telegraphing interest rate increases on Wed., do you look for other signs for a major correction so you can get back in?
In other words, as the undisputed leader/believer on precious metals, we'd feel far more comforted if you were back at the original recent, 35.2% or even much more....since the price rises alone would take you up some 3-5%! |
