“Not Owning Gold Is A Form Of Insanity And May Even Show Unhealthy Masochistic Tendencies”
Whoever said CNBC does not have good content – the biased station’s European division actually has some very informed and interesting guests. Of particular note is yesterday’s interview with Cazenove’s technical strategist Robin Griffiths. And while the chartist tends to not be too happy with the recent stock market action (who is), the most notable item on the docket was Griffiths discussion of gold. And it was quite memorable: “I think not owning gold is a form of insanity, it may even show unhealthy masochistic tendencies, which might need medical attention. Real assets hedge paper money being printed into oblivion, so you’ve got to own gold and you’ve got to own other commodity-related investments still. Gold is far from being an overowned trade at the moment, far, far from it. Although it’s been a top performer for each of the last ten years, it’s still in a linear trend. Eventually it will go exponential and make more in the last little bit than the whole of the ten year trend.” That pretty much covers it.
