“On Aug. 2, holding by large gold speculators—namely hedge funds—hit “readings that are the highest ever in our records,” stated a Bank of America Merrill Lynch analysis of CFTC data.”
Investing is a lot like going to parties to meet women. Sometimes it’s good to be one of the first ones to the party so you can get a good seat, but the risk is that you have to do a lot more guessing at how many women will show up. Sometimes going to the party just as it’s getting going is better, you can check out the talent that it is line to get an idea of what it will be like. Sometimes showing up later, when the party is in full swing is a safer bet, you can clearly see what the talent and the ratio will be, but some of the good ones are already taken by then, so there’s less upside.
But the one party you do not want to go to is the party that has been going on for hours and the hedge fund guys are already there. Because those guys have already knocked up or given an STD to every woman at the party. They will be out the door and driving away before you get your first drink. You’ll likely have to pay them for thier parking spot and pay them again for their seat (both of which they didn’t pay for). They will also likely take a dump into a paper bag because there was a line at the bathroom and tell you to hold it for them because they will be right back. The best strategy is to just keep driving if you see their cars in the driveway when you arrive because you know how this party ends, crying, dna tests or antibiotics, you can set your watch to it.
So there you are, holding a poop in a bag, getting yelled at by a drunk and infected woman who thinks you were the one who knocked her up. Maybe you go to better parties than I do, but I’m not doing that again.
