Gyroscopic Investing

http://www.smartmoney.com/investing/eco ... 748333380/

Anyone?

So rather than predict how markets should act, it's preferable to maintain an open mind and observe how they're acting in the here and now. That way you're never surprised.

Instead of maintaining an open mind I'd prefer to maintain my 25% gold position. This would surely help to avoid unpleasant surprises.  :D

I think you can maintain both...

Gold is acting the way it has been for 10 years.  Upside breakout followed by consolidation or correction down to 1-5% above 200 day m.a.  Then repeat.  It only broke script in 2008 during the liquidation.  Nothing unusual going on right now.

Imagine a turtle talking to a house fly about their respective perceptions of the rate of change in the world.

I try to strike a turtle-ish mental pose whenever possible.

MT,

From now on, I am going to deliberately post articles that make certain investment theories/predictions, even if I don't agree with them, just to see what kind of brilliant comment you can retort.

I know this is putting a fox in the hen-house, but you should really go to work for CNBC.

I could be like a Triumph the insult dog comic-type market commentator.  The expert du jour would make his prediction and then Kudlow would turn to me and say "how about that MT?". I would think for a moment and then say "well Larry, I have heard that perspective before, and I think it is a great point of view...FOR ME TO POOP ON!!!"

MediumTex wrote:I would think for a moment and then say "well Larry, I have heard that perspective before, and I think it is a great point of view...FOR ME TO POOP ON!!!"

Hmmm, maybe it's better to pair you up with Cramer 

They always try to bring on some crazy guy to be the counterpoint...  The only problem is that you'd be competing with Peter Schiff for the "crazy contrarian pundit" circuit.  When the contrarians start being more accurate than the actual hosts... well, that's just another hour of CNBC programming.

More food for discussion.

http://seekingalpha.com/article/247027- ... rse-part-i

In a sense the author's right.  If you're holding gold b/c you think it's gonna be worth $10K an ounce and you're gonna sell at the top, then it might be a good idea to listen to this guy. 

As usual, it ignores gold's role as a portfolio diversifier, which is why it's included in the PP.

I'm always a fan of those types of articles.  It means the bull will keep bucking.  Only when everyone and their neighbor is in on gold will it be a bubble.  Give it 5 years and check out the b'heads board.  You'll see some long-time gold bears cave and start to add 5% to their portfolios with a blush on their face.

Wonk wrote: Give it 5 years and check out the b'heads board.  You'll see some long-time gold bears cave and start to add 5% to their portfolios with a blush on their face.

The thought of Rick Ferri turning gold bug is sort of amusing.

MediumTex wrote:

Wonk wrote: Give it 5 years and check out the b'heads board.  You'll see some long-time gold bears cave and start to add 5% to their portfolios with a blush on their face.

The thought of Rick Ferri turning gold bug is sort of amusing.

I hope I'll live to see that day.

The "legendary" Richard Russell has already converted to goldbuggery.