Diary of a Gold Bug
Tuesday, 12 May 2020
Paul Tudor Jones bets on inflation
The greatest trader in history is preparing for an inflationary decade:
https://www.zerohedge.com/markets/great-monetary-inflation-ptj-explains-why-bitcoin-will-dominate-gold-stocks-public-trust
While it is sometimes dangerous when famous (short-term) traders make longer-term investment predictions involving macroeconomics, and I have seen Paul Tudor Jones make erroneous macro forecasts before, the monetary madness that he highlights is starkly presented and the fact of him presenting it will serve to raise investor awareness of the inflationary risk - which will bring more investors into gold. His “fair value” range for gold is $2400-$6500/oz.
Notably, he mentions that he likes Bitcoin too and predictably, that is what the mainstream financial press jumped on. But his exposure to Bitcoin is “low single digits”, while I would bet a small fortune that his exposure to gold is ten times that.
Gold = $1703
Silver = $15.45
Platinum = $770
Sunday, 10 May 2020
UK financial press still asleep in the greatest gold bull market of all time?
Scoured the weekend papers’ money sections - including FT - for mentions of gold: not a jot. In the past eight or nine weeks, I’ve only seen gold mentioned twice, on both occasions in a dismissive way.
My friend who manages a gold equity fund has only had one inquiry from generalist fund managers within his firm.
I have forwarded links to some insightful podcasts about gold to some of my investor friends; not a murmur from any of them either. Jeez.
How much does gold have to go up to get noticed?!!
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