I have been reading Armstrong since he was putting out the typewritten samizdat stuff from prison. He is a hard person to size up. I have a pet conspiracy theory (just a theory) that he cut some kind of deal to get out of prison in exchange for becoming a relentless gold basher on behalf of the powers that be 😉 [1]
Since he got out of prison and started his new blog, without playing too much of an armchair psychologist – I can’t help but detect a whiff of manicness to his posts (with a side-order of paranoia, although given what he’s been through, who wouldn’t be manic and a tad paranoid?)
Eric Sprott founded Sprott Asset Management in 2001, and has been recognized as one of the most influential investors in the precious metals sector over the last 10 years. A broadcast released June 25, 2013 by Casey Research shed some light on the picture for gold from a panel of gold experts including Eric Sprott.…
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Roubini and gold pessimism
Nouriel Roubini has just put out his 6 reasons why gold is headed lower, adding yet more pessimism and pundit consensus that reinforces my contrarianism 101 view that gold is bottoming, not topping.
Roubini is certainly no Paul Krugman, but like Krugman he is an academic and an economist. Why is that relevant?…
Read MoreYou could probably beat the averages your entire investing career by simply keeping in mind two famous utterances ( which say essentially the same thing):
#1 Jesse Livermore said it first when he opined
… Read More“There are two emotions in investing: greed and fear. Most people get it backwards and are greedy when they should be fearful and fearful when they should be greedy”.
What you are witnessing in the gold market right now is the final liquidation of the gold bug. On Friday gold fell $84 an ounce for a 5.38% drop while the HUI gold stock index fell 6%. Big bad moves. What is worse these drops have come after months of falling gold prices all while the S&P 500 has gone higher.…
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