Tuesday, November 27, 2007

I beg to differ


I seem to recall it was some Supreme Court decision, where one judge said he dissented from the view of his colleagues "for the reasons which they have given". Elegant.
Tony Allison, in Financial Sense yesterday, gives the above graph and reads it as an indication that we could be heading for a gold price spike like that in 1980; whereas I look at the inflation-adjusted trend since 1914 and think that, unless my timing in and out of that market is superbly prescient, I'm better off doing what I do now, which is trying to pay down debts and save cash.
Yes, when I've done the latter, I might well make precious metals and commodities part of my portfolio.

2 comments:

Lord James-River said...

The only question now is how wise you turn out to be, Sackerson.

SACKERSON said...

Who is wise? I'm merely cautious, and uncertain (to say the least) of my ability to make short-term market predictions.