“As I always point out, it is like faith in Jesus — you either see him or you don’t.”
I didn’t care to see this statement in Chuck’s article – I think religion is just one of the many ways that intelligent people control less intelligent (and more gullible) people – but to each their own
I believe it is necessary to have faith in the gold bull market – that is how you hold your gold when every talking head in the world is bloviating about how gold is about to drop to zero overnight
without faith a gold bull might have sold his gold at $600 or $900 and missed the most exciting phase of the gold bull market when gold shoots up to $5000 or higher
the facts and fundamentals support this gold bull running to $5000 and higher but an investor has to have faith in that outcome to invest and remain invested in the market
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Richard Russell talks about a “sold out bull” – a sold out bull is someone who was invested in a bull market but got shaken (scared) out of his position somehow – according to Richard, the sold out bull is very unlikely to re-enter the bull market and is likely to be one of the most vocal advocates that the bull market in question is over
the analogy in the equity markets would be someone who got scared out of stocks in the 1987 crash and never bought another stock – then, for the next 12 years, maintained that the bull market was over and anyone invested in stocks was a fool – they were ultimately correct (after being wrong for 12 years) but missed out on one of the largest bull markets of their lifetime
