| | | Lots of truth in those collected numbers.. and taking the broadest view compelling and despressing at the same time if you have "shorter term" assumptions about the present trade, in particular mining shares.
In the, your chart, LONG term bull market in gold since the bottom was reached at 252 on the london close after a massive bear market that started circa 1979 at the 800 per oz top of that time period, there have been three major runs of the current bull. The two prior legs acted almost like twins in all behaviors. Now we are in the third, which has deviated.
In the NOT 42 year review of which assets did well or did not that you present, I would add in the short term view relative to some 20 years of this bull market.. in terms of a NOW trade, mining shares are extremely undervalued relative to history.. by, depending on the company 3x to 10x at a minimum just to be at par with prior gold prices, let alone... CURRENT gold prices.
I would definitely blame bitcoin for diverting liquidity that might have otherwise gone to the mining sector.
As we know, bitcoin is worth both zero and whatever folks want to pay for it. no more and no less.
Perhaps you could try that with gold too? a rock vs. a miss placed code number like the guy in scotland who accidently sent his hard drive to the landfill now worth 785 millions?
vs.
I digress.
If you spend 42 years of your life let's say, and you did that chart for 42 years day in and day out.... wow.
But foundationally, it's a great case.
Right now? when everyday is a rush to store wealth as fast a possible because you just don't know if your home is gonna come crashing down on a sunny day?
mining stocks are still fucking compelling as hell, to me.
PS: mining stocks pay dividends. Gold of course does not, and more to the point bitcoin doesn't either.. however gold is an actual thing, AU. bitcoin? can't eat bitcoin either by the way.
not an opinion. just a fact.
bit coin a privacy currency? lol. not any more. bit coin capital gains immune? not anymore.
It's a fun show, enjoy the ride. |
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