We don’t like the looks of it… Advisors are too bullish. Investors are too complacent. The financial authorities are too confident. All up and down Wall Street… in central banks and in Washington… the stuff that goeth before the fall is thick, sticky and stinky.
Time to Cash in Your Chips?
The Virgin of the Valley
Nothing special happened yesterday. The Dow rose to recover some of its recent losses. Gold fell to give back some of its recent gains. Stock market advisors are unusually bullish. Investors are unusually bullish. Barron’s is unusually bullish. All of which makes us think this is a good time to be unusually bearish. Sell stocks. Buy gold. Be happy.That’s all we’ve got for today… except for this write-up of our recent visit to Molinos by Elizabeth.
Why I’m Praying for Government Incompetence
“You Americans don’t understand anything. You have to come to Argentina and live here for a few years. Then you’ll understand America.”; We had to ask, “Huh?”; “When you’re here, you can see more clearly how things really work… and don’t work. You see the real nature of things… especially government. Believe me, you Americans have all sorts of delusions.
October Portfolio Review – 50% Gains on AFP Provida
Gold fell 3.4% for October – ending the month at $1,719.90/oz. This is still a 69% gain on our 20% allocation to the metal. AFP Provida shareholders qualified for another dividend during the month. The stock price is now up 37.2% since we recommended it in May 2011.
