I Own No Gold

I have been on record for a number of years to the effect that I am at best neutral on gold. In other words, I don't expect gold to serve as a hedge against a seriously down market nor be an investment that will prove profitable.

Why? In all my years of following the market, I have never known an investment that has turned out to be profitable when it has been advertised in the media as being a good investment.

For years, gold has been touted on the Glen Beck show as the be all and end all investment for an economic downturn.

There is an old investment adage that I have complete confidence in. A fortune never falls into the hands of public. Nothing that is publicly advertised as a good investment ever turns out to be one.

I wouldn't touch gold here.