Gold? Fuggeddaboudit!
After the financial blogs of the past two nights, let me pass on another warning about the approaching housing market disaster: I’ve have lots of questions about using gold as a hedge against whatever is coming.
Please listen carefully: Do not! Do not! Do not buy gold unless you truly understand it, which I seriously doubt anybody does!
Look at the charts linked below: every peak represents a person who’s won a fortune in gold investing at the right time. But that subsequent valley represents an investor who’s lost a fortune in gold investing. If you think you can time the market you’re just flat out wrong. Many’s the speculator who bet on gold to hedge a collapsing economy and ended up as a net loser.
