idle and fond bondage

The #1 reason to own gold is a curse as well as a blessing

People who own gold bullion long-term (include me in) understand that gold is an insurance policy like no other. Gold in the portfolio won’t make you rich, it’s there to stop you from becoming poor again*. Therefore, when market panic hits, you feel somewhat apart from the new zeitgeist. Which is an issue, because as well as owning gold you also own stocks and it would have been better to panic early out of those.
FWIW I’m holding thru on all positions, but that’s as much to do with my own financial circumstances as anything else. For example, feeling sorry for anyone who didn’t wean themselves off margin years ago.
*You started with nothing and probably weighed around 3kg.

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