Do you ever wonder why the guys on TV are selling you gold if it’s so valuable? Why don’t they just pocket it for themselves? Some pretty good money is being made in the transactions they’re promoting, don’t you think? With all that selling, there’s buying too. Like the bookie in Vegas, the gold guy is after the vig, or commission, from both sides of the transaction. He doesn’t really care if gold goes up or down. He just happens to be promoting the buy side on television. All the while, it’s quite possible he sees a line of sellers wrapped around the block outside his office. You don’t … [Read more...]
Sage Advice
I recently came across an article by Arthur Zeikel in the March/April 1995 edition of the Financial Analysts Journal (FAJ). Zeikel was the head of Merrill Lynch Asset Management at the time. The article was written in the format of a letter to his daughter. The title is “Managing Your Own Portfolio.” I’ve included a few excerpts from the letter below. In the current environment with risk-free interest rates near zero and the stock market performing like it’s a riskless bet, the pressure to make emotionally charged investment decisions is immense. You start thinking you don’t want to miss … [Read more...]
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