If there is any group out there that is feeling the frustration, it’s the gold bug community. Gold is at the same price today that it was a year ago, 5 years ago and 8 years ago. During that time frame, the S&P500 has more than doubled. The Dow Jones Industrial Average is up more that 14,000 points, again more than doubling during this period.
Even U.S. Treasury Bonds made money as interest rates collapsed. The bond ETF $TLT was up over 60% before retracing some of that over the past couple of years. But still, up substantially and clearly outperforming precious metals.
You could have literally been in anything other than these commodities and made money. But from epic frustration comes secular periods for profit. I think this is what we have here: [Read more…]