Money and Finance
- Mish Buys A Basket Of Miners
Gold Stock Comments NEM - Newmont Mining: My best value play and weighted accordingly. Price/book is a mere 1.19 and I have no reason to believe book value is overstated. Trailing PE is 10.04 and the dividend yield is 4.10%. What's not to like?...
- Gmo Emerging Thoughts: Present And Emerging Risks To The Gold Trade - By Amit Bhartia And Matt Seto
The notion of gold as a hedge against systemic risks is flawed. We believe that the concept of gold’s role as an insurance policy needs to be narrowed significantly. Last year we argued that relying on conventional wisdom to analyze gold price movements...
- Richard Duncan Quote
“When the United States removed the gold backing from the dollar in 1968, the nature of money changed. The result was a proliferation of credit that not only transformed the size and structure of the U.S. economy but also brought about a transformation...
- Gmo: Two Questions We Can't Answer - By Robert Huebscher
The last part below is an important point when thinking about investing in mining companies. While eating lunch, I was watching Bloomberg and they showed a chart going back to 2006 showing Newmont Mining versus the price of gold, in which gold was up...
- Annaly Salvos: On The Value Of Insurance
How to value gold is an age old frustration. As every schoolboy knows, it yields nothing and so can’t be valued on cash flows. It has very little industrial use. There is, however, a natural human tendency toward the use of currency so gold is an obvious...
Money and Finance
Jack Schwager on gold
From Hedge Fund Market Wizards:
“Many years ago, when I was a commodity research director, I would totally ignore gold production and consumption in analyzing the market. I would base any price expectation entirely on such factors as inflation and the value of the dollar because those are the factors that drive psychology. I always found it ridiculous when other analysts would write lengthy reports on gold analyzing such things as annual production prospects and jewelry usage. Annual production and consumption of gold are always a tiny fraction of supply, maybe around 1 percent, so who cares how much they change. It has nothing to [do] with the price.”
- Mish Buys A Basket Of Miners
Gold Stock Comments NEM - Newmont Mining: My best value play and weighted accordingly. Price/book is a mere 1.19 and I have no reason to believe book value is overstated. Trailing PE is 10.04 and the dividend yield is 4.10%. What's not to like?...
- Gmo Emerging Thoughts: Present And Emerging Risks To The Gold Trade - By Amit Bhartia And Matt Seto
The notion of gold as a hedge against systemic risks is flawed. We believe that the concept of gold’s role as an insurance policy needs to be narrowed significantly. Last year we argued that relying on conventional wisdom to analyze gold price movements...
- Richard Duncan Quote
“When the United States removed the gold backing from the dollar in 1968, the nature of money changed. The result was a proliferation of credit that not only transformed the size and structure of the U.S. economy but also brought about a transformation...
- Gmo: Two Questions We Can't Answer - By Robert Huebscher
The last part below is an important point when thinking about investing in mining companies. While eating lunch, I was watching Bloomberg and they showed a chart going back to 2006 showing Newmont Mining versus the price of gold, in which gold was up...
- Annaly Salvos: On The Value Of Insurance
How to value gold is an age old frustration. As every schoolboy knows, it yields nothing and so can’t be valued on cash flows. It has very little industrial use. There is, however, a natural human tendency toward the use of currency so gold is an obvious...