from The Daily Bell:
The Gold Fairy Tale Fails Again … Will they never learn? Yesterday, oil rallied 4.3 percent and gold gained 3.6 percent as commodities had an up day after a long and painful fall. The fascinating aspect of the trading wasn’t the $45 pop in gold, nor the even greater percentage rally in oil, but the accompanying narrative. … When it comes to speculating, especially in precious metals, it is all about storytelling. Over the years, I have tried to remind investors of the dangers of the narrative form … Following a storyline is a recipe for losing money. – Bloomberg
Dominant Social Theme: If you want to invest, do it your way and try not to be credulous.
Free-Market Analysis: What’s funny about this Bloomberg editorial is that it criticizes gold purchasers for following “stories” but somehow neglects to explain that those who purchase stocks, bonds, commodities and real estate are also following certain narratives.
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