texpat

Roubini Hates Gold: Is He Wrong Again?

Wherever you think gold is headed, to say that it's in a bubble is ridiculous. Gold--and gold mining stocks, which would be flying if gold was in a bubble--have been in a bull market for about 8 years now, but are currently in the "Wall of Worry" stage. The "Mania" stage, in which the chart for any equity with the word "gold" in it starts to look like a rhino horn, has yet to appear.

Note that Roubini doesn't rule out gold going much higher; he just doesn't think it'll happen in the next few years. But timing the market is a bitch, so I'm holding a core position of bullion and mining stocks because the fundamentals tell me I'm right and to therefore sit tight.