EC The Year The World Fell Down The Rabbit Hole

Conspiracies and bias hurt investors

It’s no wonder so many people have been unable to attain proper market positioning in 2020. You invest with your heart, soul, fears or even sometimes your intellect and you risk blowing yourself up at worst, or missing out at best. For much of 2020 Twitter has been a forum for ‘influencers’ with tens of thousands of followers spewing dogma and influencing their herds, all right. I watched it happen all year, in the Twitter machine and at other venues.

You know the perma-bearish or ‘got gold?’ types, issuing dire warnings and authoritative discussion of just how bad off the world is (well, it ain’t good, I grant them that). But it’s the practical reaction or lack thereof, not the news itself that matters.

So Warren Buffett bought a gold stock. The gold “community” immediately seized upon it as validation and an opportunity to lecture the herds. What it actually was though, was a top prior to a healthy and much needed correction (handily, right from our long-standing target of HUI 375).

Buffett Buys a Gold Stock!

cheer

The most visible of the perma-bear entities (in my experience, at least) is now pimping Bitcoin, I assume because after a year like this you’d better be associated with something going right so why not something that has exploded higher and gained mass attention once again? The 2020 bear promo blew up in your face so why not jump the biggest hype train out there?

Notes From the Rabbit Hole is named after a time of personal paranoia (2002-2004), which was more the result of fear of the Federal Reserve and other monetary authorities than politicians or some conspiracy of the global elite. As I learned more about monetary policy (becoming a gold bug in the process) I literally felt like I was in Wonderland where all kinds of strange (and scary) things existed that the people in my former above-ground life did not know of.

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Terrence Howard 2 weeks ago Member's comment

Good article Gary, thanks for sharing.