This article explains in the simplest possible terms the fragility of US equities, based on a deeper understanding of the nature of valuation and the earnings cycle. This is why a hedging strategy has become important. Why Stock Prices Are More Stretched than You...
Archives | Month: August 2013
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The Intrinsic Value Of Gold And How Not To Be A Turkey
"An unfortunate consequence of the most recent naïve interventions is that capital preservation in the long run and capital preservation in the short run have been made mutually exclusive. We are forced, by what James Grant calls the “PhD standard” to choose one or...
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