I am out of the office for a few days this week so am without some of my equipment to effectively post information (beyond plain test) so I will not be posted headlines in the evening. I will be back into normal mode Friday morning.
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11/22/2024
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https://www.zerohedge.com/markets/jim-grant-warns-japan-perhaps-most-important-risk-world
Jim Grant Warns “Japan Is Perhaps The Most Important Risk In The World”
Thanks for the link. I have always enjoy reading Jim Grant’s thoughtful and opinionated (in a positive sense) writings.
Gold has come up in price a lot during the last few months. But Gold, always pitched as a safe hedge against the Fed’s printing press, seemed like a poor defense against inflation last year. No interest yield. Plus, it had become… boring. Way back, the hot ticket was getting into a Motley Fool chatroom to hear Jean Marie Eveillard’s latest thoughts. Now, nobody seems interested anymore.
Reddit gold: 77 thousand members. Reddit crypto: 6 million. Reddit gold: typical hot topic Buying A Plastic Holder for My Maple Leaf. Yawn. Reddit crypto: a bunch of gamblers and crazies as passionate as the old gold bugs were about physical gold vs paper gold and whether there is gold in Fort Knox. You do need motivated buyers for a product price to go up. Gold didn’t have them.
I was glad I took a pass. The hope of rising dividends plus price appreciation in energy won out over no dividends. Energy producers, perceived as highly risky, did better for me.
Grant’s pick Transocean is up 44% in a month. An interesting spec for the bold trend chaser but maybe a little late to the party for the timid. The easy money was in 2022, coming off a bad years and low hedges. Energy is looking like a hold for me this year.
2022 inflation hedge performance: Energy: win. Packaged foods: win. Cash: win. Gold: passed. Crypto: ouch.
Just my opinion.
We will keep an eye on energy BJ. Out the gate for the New Year seems to be good for preferreds. Hoping it calms down so I can make a few safe and sane trades.