“For those of you who just can’t be happy about an asset that gains 16 percent a year while nearly everything else submerges into some sort of netherworld, rest assured that the really good times for gold will be here soon enough.”
good article – thanks for the link
the author of this article is referring to something Richard Russell talks about: the three phases of every bull market
– the first phase is when smart money recognizes a new trend and starts taking their positions
– the second phase is when institutional investors recognize the developing trend and start taking their positions
– the third phase is when joe public recognizes the ‘new’ trend and starts taking his position
it is the third phase of the bull where the dramatic price increase occurs and maybe goes parabolic ala NASDAQ bubble, tulip bubble, etc – Richard says that bull markets tend to run far longer and higher than even the bulls expect – according to Richard and the author of this article, the third phase of the precious metals bull is yet ahead of us – Richard often ends his advise on the PMs with this comment: “there’s no fever like gold fever” – his point being that the third phase of the PM bull will probably amaze us all
