RE: RE: RE: RE: HOLD! Just to extend the discussion a little further, right now the market seems to be saying 'forget common sense, forget that gold is up, and won't go down as long as banks and countries around the world are insolvent and desperately monetizing their own deficits, forget that companies producing gold for 600/oz are making 1000/oz at today's prices, never mind tomorrows. Suspend disbelief and accept the fact that the current global situation is sustainable forever, and that the ONLY companies that won't appreciate in price are those that produce the most reliable store of value in an environment of rampant currency debasement'.
Remember 2006? When the US housing bubble was in full swing, and subprime mortgages were all the rage? Anybody who thought even briefly about that could see that the market was making a gigantic mistake, and that the turn was inevitable. Only a few guys bet on it. They took losses for a couple of years, but when the inevitable happened, they were there and made fortunes. They didn't have to be geniuses, they just had to be patient, and believe in what their own common sense told them instead of mindlessly following the rest of the lemmings over the cliff. The link is to the story about Michael Burry, excerpted from Michael Lewis' the big short. Worth a read if you have the time.
https://www.vanityfair.com/business/features/2010/04/wall-street-excerpt-201004