Wednesday, May 12, 2010

Oil vs. Gold?

Certainly some good points made here, near the end of the video. Personally, I like to get involved with oil only at extremes (under $40, over $110), rather than try to figure out if $65 or $85 is the appropriate value for Texas Tea...

Gold is hitting new highs in recent days, but I'll never go near it. As I outlined in my 2010 Outlook, those making the case for Gold have the exact same argument whether the metal is at $200 an ounce or $1200, and that makes it a PBA - Price-Blind Argument. If the only reason to hold an asset is a shared faith that it's a worthy store of value, then it's like musical chairs...you don't want to be the one holding that asset when the world decides there are better protections against currency debasement...like pitchforks, shotguns and cattle.




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