FYI: Almost exactly a year ago, this column called gold a “pet rock” and said investing in it is “a leap in the dark.” Gold traded then around $1,130 an ounce. This past week, it surpassed $1,360. Gold is up 20% since I ridiculed it; the U.S. stock market, measured by the S&P 500 with dividends reinvested, is up less than 1%.
If you’re wondering, perhaps not for the first time, whether Jason Zweig is a moron, rest assured that you aren’t alone. I’ve been wondering that, too.
Regards,
Ted
http://blogs.wsj.com/moneybeat/2016/07/08/gold-its-still-a-pet-rock/
