Where are all the gold bugs?

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Investing is boring
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Where are all the gold bugs?

Post by Investing is boring » Tue Oct 01, 2013 1:15 pm

And here I thought government dysfunction is why you BUY gold? That or as predicted, the shinny rock isnt and investment, its a sales pitch.

http://www.cnbc.com/id/101077391

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nisiprius
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Re: Where are all the gold bugs?

Post by nisiprius » Tue Oct 01, 2013 1:50 pm

It's a tiny blip. I'd never pay attention to it if it were stocks. If it jumps up tomorrow, will we try to interpret that as if it meant something?

Image

But, OK, file it away, not as a gold thing, but as a guru thing. One illustration of the general phenomenon: if you pay attention, investments, asset classes, and strategies have a habit of NOT behaving the way their advocates say they "tend to behave."
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Re: Where are all the gold bugs?

Post by technovelist » Tue Oct 01, 2013 2:07 pm

The same place as the stock bugs were in 2008-2009.
In theory, theory and practice are identical. In practice, they often differ.

Investing is boring
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Re: Where are all the gold bugs?

Post by Investing is boring » Tue Oct 01, 2013 2:08 pm

technovelist wrote:The same place as the stock bugs were in 2008-2009.

They were all here telling each other and themselves to be calm and stay the course. Go back and look. I see none of that from the gold bugs. Lack of conviction maybe?

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Clearly_Irrational
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Re: Where are all the gold bugs?

Post by Clearly_Irrational » Tue Oct 01, 2013 2:50 pm

Buy the rumor, sell the news. Nothing new here.

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Re: Where are all the gold bugs?

Post by technovelist » Tue Oct 01, 2013 3:01 pm

Investing is boring wrote:
technovelist wrote:The same place as the stock bugs were in 2008-2009.
They were all here telling each other and themselves to be calm and stay the course. Go back and look. I see none of that from the gold bugs. Lack of conviction maybe?
I suspect that many people who have a significant portion of their portfolio in gold don't feel welcome here, given the general tone of comments about gold on this forum. They have their own forums where they discuss related (and unrelated) issues.
In theory, theory and practice are identical. In practice, they often differ.

staythecourse
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Re: Where are all the gold bugs?

Post by staythecourse » Tue Oct 01, 2013 3:07 pm

I hold gold and think it is ridiculous if you expect ANY asset class to behave in any situation exactly the same. With all I have read and seen in investing I have come to realize: any asset class can do anything on any given day.

There have been times stocks have gone down when they were predicted to go up and vice versa. Same for bonds, gold, my kid behavior, the weather, etc...

Good luck.
"The stock market [fluctuation], therefore, is noise. A giant distraction from the business of investing.” | -Jack Bogle

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Re: Where are all the gold bugs?

Post by technovelist » Tue Oct 01, 2013 3:19 pm

staythecourse wrote:I hold gold and think it is ridiculous if you expect ANY asset class to behave in any situation exactly the same. With all I have read and seen in investing I have come to realize: any asset class can do anything on any given day.

There have been times stocks have gone down when they were predicted to go up and vice versa. Same for bonds, gold, my kid behavior, the weather, etc...

Good luck.
+1
In theory, theory and practice are identical. In practice, they often differ.

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Re: Where are all the gold bugs?

Post by FafnerMorell » Tue Oct 01, 2013 3:44 pm

If anything, the more surprising aspect is that stocks are currently going up, given the shutdown - maybe everyone sold off their gold to get money to buy on the upcoming stock plunge? :shock: I'd expect any true gold bugs to be happily stocking up (pardon the pun) on their favorite shiny, and coming up with elaborate explanations about what reason the banking cabal has for setting the price so low (which is crazy talk, because everyone sensible knows that gold prices, just like libor rates, are immune to such manipulation).

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FNK
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Re: Where are all the gold bugs?

Post by FNK » Tue Oct 01, 2013 3:59 pm

Obviously the Treasury is dumping gold on the market. Can't you see the trucks at Fort Knox?

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Re: Where are all the gold bugs?

Post by LadyGeek » Tue Oct 01, 2013 4:20 pm

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