On October 21st 2014 Casey Research published its emergency alert report, in which we were told (and we quote)…
“Now is the time to take action. Not in the next few months or even in the next few weeks—Right now.”
The integral parts of the plan were the following:
1) Expect the broad markets to crash
2) Own gold as insurance
3) Go short the regional banks ETF (KRE)
4) Go short on the Dow Trannies ETF (IYT)
And here’s how those four are doing in the time elapsed:
1) The broad market hasn’t collapsed. In fact it’s reached new all-time highs.
2) Gold is three percent lower.
3) Shorting the regional banks? They’re up 7%, bad idea.
4) Shorting the Dow Trannies? Ditto.
Remember this when you bump into Doug and his band of rip-off merchants at PDAC, wontcha?
UPDATE: Gary over at Biiwii adds a comment:
“[W]hat IKN doesn’t fail to understand is that these headline calls make some people emotional and get them in search of a remedy for that emotion, which the headline maker just happens to have handy”
Agreed. As IKN put it in this post dated September 2014,
one month before his latest “Crash Now!” stupidity, “...the sideshow owners, snake oil salesmen and dream peddlers such as Doug Casey exist as a barrier to wealth. He’s just another parasite getting rich off your fears by telling you what you want to hear and charging you money for the privilege