Vanguard just threw in the towel on a Metals and Mining Fund. It morphs into a Global Capital Cycles Fund.
Sentiment is not a timing mechanism, but gold bearishness is mounting in a market that has gone sideways for years. Vanguard couldn't take it any more.
"The $2.3 billion Vanguard Precious Metals and Mining Fund (VGPMX) will be renamed to Vanguard Global Capital Cycles Fund as part of a restructuring intended to broaden the fund's mandate and diversify its portfolio." They don't ring bells at tops&bottoms?https://t.co/cGqBPu9B3E
— fred hickey (@htsfhickey) July 27, 2018
This may not be "the bell" but it is a bell. Despite the recent declines, many miners are up tremendously off the lows.
Newmont
Hey, let's throw in the towel and buy something that trending. Maybe we should short gold. Facebook sure looked attractive last week.
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