A Golden Rule from a Golden Fool

Posted by jasonzweig on Aug 14, 2020 in Articles & Advice, Blog, Columns, Featured |

Image Credit: Alex Nabaum

By Jason Zweig | July 24, 2020 10:00 am ET

Almost five years ago to the day, a market commentator with a prominent platform called gold “a pet rock.” Since then, gold has risen nearly 70%, hitting an all-time high this week.

That market commentator? Yours truly. How wrong was I, and what can we learn from my mistake?

Oh, was I ever wrong. The yellow metal didn’t sit inert. Since I wrote that column five years ago, gold has returned an average of 10.5% annually — barely below the gains on U.S. stocks. And so far in 2020, it’s up 24% even as stocks are as flat for the year as … pet rocks.

To read the rest of the column:

https://www.wsj.com/articles/a-golden-rule-from-a-golden-fool-11595599207

For further reading:

Books:

Benjamin Graham, The Intelligent Investor