Sentiment is not a timing mechanism, but gold bearishness is mounting in a market that has gone sideways for years. Vanguard couldn’t take it any more.
This may not be “the bell” but it is a bell. Despite the recent declines, many miners are up tremendously off the lows.
Newmont
Hey, let’s throw in the towel and buy something that trending. Maybe we should short gold. Facebook sure looked attractive last week.
Mike “Mish” Shedlock
Mish in 2015: Trucking jobs will vanish to self-driving trucks
Reality in 2018: America’s booming economy has a problem: a shortage of truck drivers.
How much longer before we see any impact whatsoever by automation in this industry?
Timing is always a problem. A lesson I learnt after a few mistakes.
Too early is as good as a fail. Never commit to a timeline on anything you don’t have complete control over.
Trucking will automate, lack of drivers will encourage it.
Ron, I gave you my timeline a dozen times. When did I ever say 2018? I expect this to be in full swing by 2021 and a majority of self-driving trucks by 2024. Note that in 2015 I said “over the next decade” and I have many time pegged the start at 2021. It could be 2020. It will be very fast once it starts.
Just moved to Midland to fuel the frack sites here in the Permian basin. Drivers here are earning $120-$150K. Life is good. Mish has no clue what he’s talking about when it comes to automated driving. I’ve tried countless times to point out the daunting challenges it has both in the oilfield or in box trucks hauling for WalMart but to no avail. He uses circular logic to reinforce his opinion. Good luck getting him to admit to his ignorance. That would take some humility. A quintessential Intellectual Yet Idiot.
Well, Barron’s just ranked Vanguard as the “Top Robo Advisor” in its most recent issue. A kind term for mindless, automatic momentum investing which plows more investor savings into stocks like TSLA (no earnings, massive cash burn trading at $300/share) or AMZN (trading at 300X earnings) and other massively valued stocks. Yes, it generally works on the way up, but then you have days like FB, NFLX and TWTR when reality rears its ugly head.
Gold’s problem is that it does not give dividends…
End of 2015 was a good time to invest in gold mining stocks.
Real money is not an investment (which is code for gambling). Real money is savings. Do we really need to gamble with everything we have 24/7/365? That’s what is happening under the pale color of “investing”. Long after paper assets return to their intrinsic value of zero, gold and silver will be sitting pretty, holding their historic buying power.
So it is not a “problem” that gold does not pay a dividend. It is a signa that gold is money and not an investment. Gold is zero risk money. The dollar price fluctuation of gold is a statement about the waxing and waning popularity of the dollar and has zero to do with the value of gold itself. One gold coin of 1 ozt and .999 pure is simply worth one gold coin with these properties.
We have been scammed into expressing the value of things in dollars. Might as well use sea shells. When conquistators came to the Americas, what were they specifically looking for? Dollars? Stocks? Bonds? NO! They were looking for gold and silver. And not gold in streams and silver ore in dirt. Noooooo! They were looking for processed gold and silver to steal from other people.
Amazingly, that is just what they found! What are the chances that a different people on a different continent would come, over many years, to value gold and silver as money and to form them into items considered to be of great value? But we now know that EVERY culture on EVERY continent did just that.
Wake up. Gold is money and everything else is credit.
It’s truly amazing how much wasted effort useful idiots are willing to expend, on what amounts to nothing more than simply pulling a slot machine lever…..
Forever and ever convinced that the reason the Casino is slowly beating them over time, is because it is somehow better at lever pulling than they are. And that, if only they can be smart enough to discover the right “system” for lever pulling, or pay a Great Leverpuller to pull for them, they too can be smart lever pullers. Just like the Casino is.
Its beginning to look like the latest debt fueled speculative asset buying orgy is at about 2am, the latest hookers and blow deficit exploding tax cut extending the party a little longer. There will be a time in the next few years where having a chunk of PM in the portfolio will be very financially rewarding.
Your comment somewhat confirms the thrust of the argument. I do not possess your prescience.I lack confidence in the financial system. US dollar strength could well continue but my base currency is not US dollars. As I see it there is a low volatility consolidation in the equities that portends a break, one way or the other. If it is down you have another opportunity to engage, in what I believe is termed “a washout” of weak hands, I think the overall set up looks quite promising for a medium term trade.
Sorry man, Gold is dead money. You had your day.
A further sign … thank you