Golden Opportunity Ahead?
The lack of new all-time highs in the Dow Industrials notwithstanding, U.S. stocks are by virtually any other measure in the midst of a strong bull market. Meanwhile, gold has been charging ahead for the past dozen years. Which one – if either – should we consider buying at this point?
A big part of the answer depends on your time frame. With Dow Theory Letters’ focus on investing for the long-term, gold has been and continues to be the better choice. Yet always doing something just to do something isn’t a wise strategy; often the best thing to buy is nothing. This may be one of those times.
U.S. stocks have risen 7500 points in 4 ½ years and have been signaling “over-bought!” for months. As mentioned last week, they are hardly cheap even by today’s revised P/E, dividend yield, and book value measures. Still, it wouldn’t be surprising to ... Log in or subscribe to continue reading.
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