Speaking of manipulation, did you see this today?:
"Goldman, BASF, HSBC accused of metals price fixing: U.S. lawsuit
Goldman Sachs Group Inc (GS.N), Germany's BASF SE (BASFn.DE) and two other big platinum and palladium dealers have been sued in the United States in what the plaintiff's law firm called the first nationwide class action over alleged price-fixing of the metals."
http://www.reuters.com/article/2014/11/ ... T120141126
Gold Market Manipulation is a Myth
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Re: Gold Market Manipulation is a Myth
Yep this is pretty much it. A rigid plan that keeps emotions out of the equation just works better long term.MachineGhost wrote:What he means is let the cognitivally-biased fools battle it out and he'll collect the fallout from acting rational (i.e. dollar cost averaging and rebalancing low, selling high). The point is to come out ahead in this game long-term, you must not engage in any emotionally-based detrimental behavior since you're liable to be part of the emotional herd and they're always wrong at turning points. Turning points and sentiment shifts are fractal so they extend across all time spans.barrett wrote: Craig, Have you written about this in depth anywhere? I've seen you post about it a couple of times here and also listened to an excellent PP interview you did a few years ago where you said something like "I'm happy to just sit back and take your money." I mean, I kinda understand the idea but would like to really grasp it completely. Thanks.
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Re: Gold Market Manipulation is a Myth
I do believe that is the only real edge in the market. All the "anomalies" are ultimately behaviorally based.craigr wrote: Yep this is pretty much it. A rigid plan that keeps emotions out of the equation just works better long term.
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!