Cramer: "Go With Gold"
2 mensagens
|Página 1 de 1
Cramer: "Go With Gold"
"Go With Gold"
By Jim Cramer
RealMoney Columnist
11/16/2010 7:46 AM EST
"Four hands went up. Four out of about 200. Last night at a terrific dinner to benefit the Madison Square Park Conservancy, a great charity for all of us old enough to remember how scary that place was in Manhattan, I asked for a show of hands about who owns gold. Sophisticated audience. High net worth. Four hand went up.
Not only that, but as I then proceeded to describe why gold was a necessary cornerstone of a portfolio in these uncertain times -- the currency, not the commodity, part of your portfolio -- I could tell that I was being viewed as a bit of a nut. Not because I was speaking when gold had already run to $1,400 -- $1,300 and change now -- but because it was like I was speaking about Armageddon and revealing my own inner paranoia.
To me that says only one thing -- go buy more gold if you have some, start a position today if you don't. Right into the weakness.
As hard as I try, I can't convince dollar-denominated people that their government's choice to get this economy moving again is to debase its currency, so you need another currency. As hard as I try, I can't convince people that when someone has a few rupees or yuan in India or China, they buy gold. As hard as I try, I can't convince people that the miners are having such a hard time finding gold.
Just makes me feel even more right.
Today's another day where the market looks soggy. No mergers, no real reason for a rally, as stocks remain extended and are working off the overbought condition.
What I care about is simple: We need to use the weakness in what is EVERYTHING to buy the currency that will not trade in lock step as oil and copper and bonds go down in value. It will assert itself.
Because people worldwide have caught on to our plans and people domestically simply don't have any.
That's the perfect recipe for higher prices. "
(in www.realmoney.com)
By Jim Cramer
RealMoney Columnist
11/16/2010 7:46 AM EST
"Four hands went up. Four out of about 200. Last night at a terrific dinner to benefit the Madison Square Park Conservancy, a great charity for all of us old enough to remember how scary that place was in Manhattan, I asked for a show of hands about who owns gold. Sophisticated audience. High net worth. Four hand went up.
Not only that, but as I then proceeded to describe why gold was a necessary cornerstone of a portfolio in these uncertain times -- the currency, not the commodity, part of your portfolio -- I could tell that I was being viewed as a bit of a nut. Not because I was speaking when gold had already run to $1,400 -- $1,300 and change now -- but because it was like I was speaking about Armageddon and revealing my own inner paranoia.
To me that says only one thing -- go buy more gold if you have some, start a position today if you don't. Right into the weakness.
As hard as I try, I can't convince dollar-denominated people that their government's choice to get this economy moving again is to debase its currency, so you need another currency. As hard as I try, I can't convince people that when someone has a few rupees or yuan in India or China, they buy gold. As hard as I try, I can't convince people that the miners are having such a hard time finding gold.
Just makes me feel even more right.
Today's another day where the market looks soggy. No mergers, no real reason for a rally, as stocks remain extended and are working off the overbought condition.
What I care about is simple: We need to use the weakness in what is EVERYTHING to buy the currency that will not trade in lock step as oil and copper and bonds go down in value. It will assert itself.
Because people worldwide have caught on to our plans and people domestically simply don't have any.
That's the perfect recipe for higher prices. "
(in www.realmoney.com)
-
- Administrador Fórum
- Mensagens: 31013
- Registado: 29/10/2002 4:04
- Localização: Aveiro
2 mensagens
|Página 1 de 1