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Recent Rally Unlikely to End Gold Downtrend

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

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Elusive, Frustrating Turn in Gold Will Come

Gold and gold mining shares spent most of the third quarter backing and filling without establishing any clear direction. Gold increased 7.6% during the quarter, closing at $1328.6/oz, but down 20.7% year-to-date. The XAU Index of gold and silver stocks rose 4.1% during the quarter, and was down 42.5% on a year-to-date basis. The rationale… Read More

918

After the Deal, Time to Worry About Earnings

Back to normal. The United States won’t default. The federal government is open again—including the Panda cam at the National Zoo. And once again earnings count. Which at least for the day isn’t good news for U.S. stocks—at least not for the Dow Jones Industrials. The Dow is down 0.32% as of 1:40 p.m. New… Read More

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Old McDonald Had A … Good Investment

This post appeared originally on Forbes.com. You’ve heard it a million times: invest in real estate because “they’re not making any more of it.” Often, that’s less than true. Manhattan hasn’t gotten any bigger, but its residential and office capacity has soared. It is more than true, however, for farmland: the number of arable acres… Read More

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Stocks Won’t Be Enough

This post appeared originally on Forbes.com. Heard this one from your broker? “Sure, there are problems out there, but the real question is whether you think the market will be higher or lower three years from now.” Most of us are optimists, so we buy. OK, but the critical issue is really: how much higher?… Read More

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Inflation Hedges That Pay Today

This piece originally appeared on Forbes.com. The globe is awash in cash. The Fed’s adds $85 billion a month of new liquidity to our system, but even its herculean efforts will be outdone by the Bank of Japan. Negative real interest rates are common. And it seems as if any respectable corporation has scores of… Read More

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Hunting Big Game (And Gains)

This piece originally appeared on Forbes.com. When people hear “hedge fund” or “alternative investments,” many conjure up exotic strategies aimed at amazingly high returns. Well, as Sportin’ Life sang, it ain’t necessarily so. As discussed in earlier columns, some alternatives aim for higher current income; others, to avoid losses; and as we’ll see tomorrow, many… Read More

Gold Bullion

Gold

My friend David Kotok, Chairman and CIO of Cumberland Advisors, has this excellent piece out today on gold. Definitely worth a read. Gold made the headlines with a rapid plunge, some possible basing, and then another plunge. Let’s talk about gold for a minute. Central bankers prefer to have the public, the investor class, and… Read More

alternatives-common-blog

Alternatives—A Common Sense Approach

Alpha. Core and Satellite. Modern Portfolio Theory. Correlation. It seems that the financial world has fallen in love with a whole new language. But is the point to drive smarter investments, or just higher fees? Well, let’s forget all the lingo and look at the facts. This one is key: the traditional 60/40 investment model… Read More

art-blog

The Resurgence of Art Funds —Turning a Passion into Investment Returns

Investing in alternative assets such as art and gold during times of inflationary pressure and turmoil in the financial markets is nothing new. Recently, however, the prevalence of so-called “passion investments” has increased, with art funds emerging as an attractive alternative investment. This article explains how art funds work and sets forth important things to… Read More