Contrarian Signs

November 4th, 2009 by Mebane Faber

Comments

Well, not only is Spencer Pratt following me on Twitter (along with 12k other people), but his last post is “I hope you bought Gold when I told you!”.

After I finished vomiting in my mouth and blocking him, I shuddered at the thought of being in gold alongside him.

Glad I have a quant stop in place, wonder what his exit strategy is??

sportbeine

I was in the bank the other day, trying to see what alternatives they had to my crappy money mkt account, and the guy was telling me how all these retired people are coming in and asking him how they can buy gold. (thought about taking a short position that day ... but am glad I didn't act on it)

macclary

Harsh commentary on your fan base ;-> I have an idea for a 130/30 ETF: go long the investable market portfolio and short whatever is leading in terms of retail investor inflows.

WorldBeta

http://ftalphaville.ft.com/blog/2009/11/04/8143...

thom

That's the first good thing I've ever heard about that Spencer douche. That said, I sold half my GDX position just now after reading this post.

JakeGint

You "shuttered?"

Like as in a Dutch Colonial?

WorldBeta

Ahaha, thx. Fixed.

marketfolly

haha I just laughed so hard.

I'm with you though on the contrarianism... cash4gold, random people asking me if they should buy some, etc. But on the other hand you have a bunch of prominent hedgies in the play. Tough call. But like you said, draw a line in the sand and you're all set.

Oh, forgot to add that I guess you could also consider all the hedgies being in the metal a contrarian sign as well.

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