by Bob Rice • Dec 12, 2013
Gold has rallied to $1254 an ounce (on the spot market) from $1218 on December 2. The December 2 closing low was the lowest close for gold since it closed at $1201 on June 27, 2013. But I don’t think the recent rally is likely to run very far. It’s based on what is likely… Read More
Making investment decisions today is incredibly difficult. With interest rates at historic lows, and the Fed about to unwind quantitative easing, bonds carry a lot of risk for little reward. At the same time, stocks look fully valued (or overvalued) by nearly every traditional measure… and if the Fed does tighten, history indicates big problems ahead for equities.
Most investors face a problem they’ve never seen before. At these levels, bonds simply cannot serve their traditional functions of downside protection and income production. Read More
This should be a primary text for all investment managers to consider.- Allan S. BufferdTreasurer Emeritus, M.I.T.