Reflections on gold as an asset class
Is it a "barbarous relic?"
Gold is hotter than ever. You can’t turn on the TV these days without seeing a gold commercial.
Several well known hedge fund managers have leveraged up positions in gold while John Paulson even went so far as to start his own gold hedge fund. As an asset class gold has outperformed just about everything over the last 10-year period. It’s been an impressive run.
But is it all justified? Bear with me for a bit while I take a long-term macro look at gold as an asset class….
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