@TheLege I have said it multiple times that Gold portfolio in long term has underperformed any portolio holding major stock index product. And for your record, you have never given a constructive response. Instead you have resorted to name calling, which I think tells a lot about your arguing skills.
Whenever I bring up "Gold vs Stocks" topic, then someone in response posts "nominal stock index prices" vs "nominal gold prices" and claim that gold actually performed almost equally good as stocks in long run.
However, when I point out flaws in such thinking and recommend to look at "portfolio as a whole performance" and not "nominal stock index prices", then I rarely get a further response from folks like you.
The reason I don't get response is because exponentionally compounding gold maintenance fees and exponentionally compounding stock dividends are too hard to disprove as big plus for stock portfolio when compared against any gold-related product portfolio.
To be honest, I think that Mish has the neccessary background to grasp those concepts (dividends and maintenance fees) and write a well balanced article on this topic. However, he has never done so. I can only speculate why. Nevertheless, I would like to point out that he HAS connections with folks making money by selling gold related product. Go and Google it.
Also, Mish's Tesla bashing is very flawed and he simply parrots zerohedge narrative that claims that Tesla is going to go bankrupt soon due to negative Free Cash Flow. But he never bothers to ask what is Free Cash Flow in the first place. It is clear that Free Cash Flow looks better for companies that reinvest in CapEx (e.g. Amazon buys warehouse or buys servers for AWS datacenter. Easy to account such things on books). However, Tesla reinvests into more abstract things that are harder to value and may actually count under OpEx (e.g. tell me how much worth is GigaFactory if there is only one out there? How much worth is the Intelectual Property Tesla produces, like software, patents and car production pipeline optimizations? Engineers working on IP count as expense for company)