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Gold Switzerland/Matthew Pieipenburg/12-3-2020
“Successful investing, from Baron Rothschild to Benjamin Graham, inevitably overlaps with contrarian investing. In short: Cooler minds avoid the madness of crowds. … As of today, precious metals make up only 0.5 % of total financial assets. By simply owning precious metals, one is already among a minority. But is this a wise minority?”
USAGOLD note: Wisdom is one of those things that can be identified only in retrospect – like market bubbles themselves. At the same time, one of history’s greatest lessons is that one should never underestimate mankind’s ability to fall victim to its baser instincts. The opening lines to this piece will get your attention. The rest of it will explain why your decision to own gold under current conditions might have been the right one. Piepenburg passes along a quote from the 17th-century French philosopher La Rochefoucauld: “The highest offices rarely, if ever, contain the highest minds.”
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