Fermer X Les cookies sont necessaires au bon fonctionnement de 24hGold.com. En poursuivant votre navigation sur notre site, vous acceptez leur utilisation.
Pour en savoir plus sur les cookies...
AnglaisFrancais

Gold: Professor Wrong Says "Don't Buy" Again

IMG Auteur
Publié le 28 mai 2010
528 mots - Temps de lecture : 1 - 2 minutes
( 0 vote, 0/5 )
Imprimer l'article
  Article Commentaires Commenter Notation Tous les Articles  
0
envoyer
0
commenter
Notre Newsletter...
SUIVRE : Bullion Vault
Rubrique : Or, Argent et Monnaie

 

 

 

 

Phew! That was a close call from our tenured contrarian indicator...


YIKES! FOR ONE awful moment just then, I thought maybe the top was in.


"Gold has become the favored hedge against financial and monetary uncertainty," said Niall Ferguson, Harvard's financial history professor, on Monday.


"It's certainly a time-tested way of coping with really turbulent markets."


Oh cripes! Niall Ferguson – our tenured contrarian indicator – now says gold is a proven defense against investment stress. It's taken 11 years and 356% gains in gold, but he's finally got it.


That's the top. Sell!


Oh, hold on – "A lot of the upside is already there," Ferguson went on, live by video-link to the Wall Street Journal. "The time to buy was in 1999, not 2010..."


Phew! As you were, then, bloody-minded gold buyers. And as you relax, safe in the knowledge that Professor Wrong still says you shouldn't buy, let's remind ourselves just what it was he advised 11 years ago – back in 1999 – the "time to buy gold" as he now puts it...


"The twilight of gold appear[s] to have arrived. True, total blackout is still some way off...Gold has a future, of course.


"But mainly as jewelry."


Fast forward to late 2008 – some $445 higher per ounce for gold, slap-bang amid the post-Lehmans Crash crisis – and Professor Ferguson was at it again.


"I have been debating today whether gold bars really are the answer," Ferguson confessed to the New York Magazine when quizzed about his portfolio for a puff piece that November.


But "they probably aren't," he decided...thereby leaving another $470 per ounce on the table over the last 18 months.


Now he says 2010 is not the time to buy gold either. So, given what happened when he rejected the idea in mid-1999 and then in late 2008, expect another $400-or-so on the price before the Laurence A.Tisch Professor of History next weighs in with his forecast.


The man whose last TV-and-book blockbuster, The Ascent of Money, concluded that "the state-owned bank [was] now close to extinction"...just as the UK nationalized one-third of its finance sector, and the US Fed bought $2 trillion of failing bank assets...now advises that "There are other ways to protect yourself, and maybe somewhat smarter ways."


Missing the point entirely once more, Ferguson recommends – instead of gold – buying Norwegian and Swiss government debt for protection from the sovereign debt crisis.


Clang! Clang! Everybody out!




 

Adrian Ash

Head of Research

Bullionvault.com

 

You can also Receive your first gram of Gold free by opening an account with Bullion Vault : Click here.

 

 

City correspondent for The Daily Reckoning in London, Adrian Ash is head of research at BullionVault.com – giving you direct access to investment gold, vaulted in Zurich, on $3 spreads and 0.8% dealing fees.

 

Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.

  

 

 

<< Article précedent
Evaluer : Note moyenne :0 (0 vote)
>> Article suivant
Dernier commentaire publié pour cet article
Soyez le premier à donner votre avis
Ajouter votre commentaire
Top articles
Derniers Commentaires
Pour France 2 un krach boursier ...
07 févr.Christus Regnat
@Pougatchof Il est dangereux de faire un exemple car l'exemple peut devenir un martyre* et je suis bien placé pour le savoir... J...
Pour France 2 un krach boursier ...
07 févr.Christus Regnat
@Pougatchof Vous savez le crédit a remplacé le vrai honneur, je n'ai rien inventé c'est Léon Bloy qui définissait l'action de l'homme par ...
Pour France 2 un krach boursier ...
07 févr.pougatchof1
Et pour la petite histoire, celui qui a organisé cette arrestation du Général dont le seul but est de faire un exemple national se nomme Desplanque...
Charité bien ordonnée commence p...
07 févr.pougatchof1
Excellent comme toujours, et il y en a d'autres, un paysan prend sa retraite et loue son champ a son voisin en attendant que le fils du pa...
Pourquoi acheter de l’or avant q...
07 févr.Attilio1
@Christus Regnat "Planter et récolter ses légumes c'est imprimer son propre argent". Je ne connaissais pas cette phrase, mais je...
Pourquoi acheter de l’or avant q...
07 févr.Christus Regnat1
"Mes enfants, quand vous entrez à l'église et que vous prenez de l'eau bénite, quand vous portez la main à votre front pour faire le signe de la cr...
Philippe Béchade et Charles SANN...
07 févr.Cracker's
Article et documents audio, un peu longs, mais très instructifs et accessibles (comme toujours chez MM. Béchade et Sannat). Les changement...
Pourquoi acheter de l’or avant q...
07 févr.Christus Regnat
@Attilio Je vous rassure je ne suis pas tomber dans une paranoïa stérile... Dernièrement j'ai vu qu'on pouvait contrôler votre or...
Articles les plus commentésFavorisPlus...
Flux d'Actualités
TOUS
OR
ARGENT
PGM & DIAMANTS
PÉTROLE & GAZ
AUTRES MÉTAUX
Nouvelles des Sociétés Minières
Lara Expl.(Cu-Zn-Au)LRA.V
Revised Resource Estimate Report Filed for Maravaia Copper Gold Deposit
0,34 CA$+1,47%Trend Power :
Communiqués de Presse
Black HillsBKH
Black Hills reports 4Q loss
50,90 US$-0,59%Trend Power :
Communiqués de Presse
Kinder Morgan(Oil)KMP
Midstream Companies Were above the 20-Day Moving Averages
102,03 US$+1,98%Trend Power :
Communiqués de Presse
Kinder Morgan(Oil)KMP
Midstream Companies Were above the 20-Day Moving Averages
102,03 US$+1,98%Trend Power :
Communiqués de Presse
Devon Energy(Ngas-Oil)DVN
Gasoline Inventories Rose Last Week despite Fall in Production
24,85 US$-6,44%Trend Power :
Communiqués de Presse
United States Steel(Fe-Sn)X
U.S. Steel (X) States Ratification of Labor Agreements
7,94 US$-3,64%Trend Power :
Communiqués de Presse
Black HillsBKH
4:34 pm Black Hills Corp beats by $0.04, misses on revs; guides FY16 EPS below consensus
50,90 US$-0,59%Trend Power :
Communiqués de Presse
Black HillsBKH
Black Hills Corp. Reports 2015 Fourth Quarter and Full Year Results
50,90 US$-0,59%Trend Power :
Communiqués de Presse
Transcanada PipelinesTRP.TO
TransCanada to Sign Substantial Agreement to Benefit Québec Economy
48,65 CA$+0,16%Trend Power :
Communiqués de Presse
Devon Energy(Ngas-Oil)DVN
4Q15 Crude Oil Prices: Fallout for the Energy Sector and SPY
24,85 US$-6,44%Trend Power :
Communiqués de Presse
Publication de commentaires terminée