Global Market Commentary, Analysis and Investments
Yesterday was a good day for stock market investors. Prices went up. The Dow rose 254 points, leaving us uncertain about its near-term intentions.
Of course, we're always uncertain. But sometimes we're more uncertain than others. What seems certain to us is that stocks are a bad bet.
You might find this interesting, dear reader:
[Read more...]This week was largely spent watching the recovery fall apart. Not a dramatic collapse. No market crash yet, for example. But the important indicators are giving way.
On top of the bad news from housing and employment over the past few weeks, Richard Russell's famous PTI indicator finally dipped into negative territory – signaling a bear market. And the Baltic Dry Index – a measure of world trade – continued to fall.
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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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