So gold is now at “fair value� says Bill Bonner, long-time gold bug and my former boss/partner-in-crime at The Daily Reckoning's London HQ.
No, he won't sell yet…if ever…says Bill. But gold's huge under-pricing a decade ago has clearly passed by. Value-hungry investors got their “reversion to the mean,â€? and in the form of 400% gains, too. What one ounce of gold bought 2,000 years ago – a good suit of clothes, in Bill's oft-repeated example – it now matches, if not exceeds in price, here in late 2010.
Speculating in Gold
So gold is now at “fair value� says Bill Bonner, long-time gold bug and my former boss/partner-in-crime at The Daily Reckoning's London HQ.
No, he won't sell yet…if ever…says Bill. But gold's huge under-pricing a decade ago has clearly passed by. Value-hungry investors got their “reversion to the mean,â€? and in the form of 400% gains, too. What one ounce of gold bought 2,000 years ago – a good suit of clothes, in Bill's oft-repeated example – it now matches, if not exceeds in price, here in late 2010.
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