You Can’t Even Make This Up

Frank Holmes gets on CNBC and makes a simple case for re-balancing into gold after such a great year in the general markets and a big correction in the gold markets.  Doesn’t that seem prudent to sell something high and buy low?  And he gets absolutely berated, and called a heartless person for having an allocation to gold.  This is the type of stuff you see at bottoms.  Remember CNBC was the network that scared everyone out of stocks for an entire month in December 2012 when they had the fiscal cliff countdown.  And then the markets went on to one of their best years in history in 2013.  Bitcoin is a great recent example, ever since Bitcoin has been on CNBC on a daily basis it’s down about 50%.  A great test would be to bookmark this video and see how foolish this looks in a year.