gunDriller
3rd July 2013, 02:58 PM
Fellow Gold-bugs (that's what Barry Ritholtz calls us): I nominate Barry Ritholtz.
Barry is a Jew living in the Chicago area. This is his website -
http://www.ritholtz.com/blog/
http://www.ritholtz.com/
Since the April 12 Precious Metal Price Bash started, Barry has shown a sudden interest in talking down precious metals. I have been reading him since my brother recommended him about 2 years ago. Until he started bashing PM's.
Almost as if he was trying to score brownie points with the Financial TPTB.
"Ritholtz: Gold Will Bounce Above $1400, Then Sink 50%"
http://finance.yahoo.com/blogs/daily-ticker/don-t-fooled-sell-gold-1-400-then-113216641.html
Barry's Infinite Wisdom:
" Youve had a 10-year uptrend in gold since 2001, says Barry Ritholtz, CEO of Fusion IQ. That trend is clearly broken& Gold is now in a bear market.
But will it stay there? Ritholtz doesnt think so.
I wouldn't be surprised to see a nice bounce in gold from this level up to $1400, $1440, but I dont know if its sustainable after that.
His advice to investors: Hit the bid once gold climbs to near $1400... $600 to $800 an ounce is certainly a possibility.
Ritholtz says gold is no different from other asset classes, despite what many gold-bugs say. Theres nothing magical about gold. Its not imbued with special powers. It will trade on human beings making buy and sell decisions, and that pattern is pretty well established.
What Ritholtz doesn't buy is the bull market narrative of gold bugs: That the Fed is printing money, the dollar is going to hell and hyperinflation is coming... [along with]$10,000 gold." Ritholtz says, None of that is true, other than the Fed printing... and the dollar is at multi-year highs but thats not a good thing for gold.
Yet, Barry says investors should "think long term", and "Be Diversified".
http://finance.yahoo.com/blogs/daily-ticker/ritholtz-eat-cat-food-tacos-retirement-111448545.html
"In the accompanying video, he summarizes the advice for taking emotions out of investing:
Have a plan.
Execute it faithfully.
Be diversified.
Contribute regularly.
Max out tax-deferred accounts.
Be an asset allocator.
Think long-term."
So, Be Diversified, but - NO GOLD - because, Barry Says So.
I therefore nominate Barry as Most Idiotic Money Manager / Talking Head of the Year.
Who would you nominate ?
Jim Cramer & Gartman are sort of cheating - they're obvious.
Barry is a Jew living in the Chicago area. This is his website -
http://www.ritholtz.com/blog/
http://www.ritholtz.com/
Since the April 12 Precious Metal Price Bash started, Barry has shown a sudden interest in talking down precious metals. I have been reading him since my brother recommended him about 2 years ago. Until he started bashing PM's.
Almost as if he was trying to score brownie points with the Financial TPTB.
"Ritholtz: Gold Will Bounce Above $1400, Then Sink 50%"
http://finance.yahoo.com/blogs/daily-ticker/don-t-fooled-sell-gold-1-400-then-113216641.html
Barry's Infinite Wisdom:
" Youve had a 10-year uptrend in gold since 2001, says Barry Ritholtz, CEO of Fusion IQ. That trend is clearly broken& Gold is now in a bear market.
But will it stay there? Ritholtz doesnt think so.
I wouldn't be surprised to see a nice bounce in gold from this level up to $1400, $1440, but I dont know if its sustainable after that.
His advice to investors: Hit the bid once gold climbs to near $1400... $600 to $800 an ounce is certainly a possibility.
Ritholtz says gold is no different from other asset classes, despite what many gold-bugs say. Theres nothing magical about gold. Its not imbued with special powers. It will trade on human beings making buy and sell decisions, and that pattern is pretty well established.
What Ritholtz doesn't buy is the bull market narrative of gold bugs: That the Fed is printing money, the dollar is going to hell and hyperinflation is coming... [along with]$10,000 gold." Ritholtz says, None of that is true, other than the Fed printing... and the dollar is at multi-year highs but thats not a good thing for gold.
Yet, Barry says investors should "think long term", and "Be Diversified".
http://finance.yahoo.com/blogs/daily-ticker/ritholtz-eat-cat-food-tacos-retirement-111448545.html
"In the accompanying video, he summarizes the advice for taking emotions out of investing:
Have a plan.
Execute it faithfully.
Be diversified.
Contribute regularly.
Max out tax-deferred accounts.
Be an asset allocator.
Think long-term."
So, Be Diversified, but - NO GOLD - because, Barry Says So.
I therefore nominate Barry as Most Idiotic Money Manager / Talking Head of the Year.
Who would you nominate ?
Jim Cramer & Gartman are sort of cheating - they're obvious.