Gold for optimists (avtor: Marc Faber, 10. september 2007)

Gold for optimists

I suppose that in the ongoing financial battle between the optimists, who expect a new high shortly, and the pessimists, who expect a new low before the end of October, the best course of action may be to only take small positions and to be patiently awaiting better entry points both on the long and the short side.

However, if some of my readers are very optimistic, I recommend them to buy gold and gold shares rather than the S&P 500 and other major US indices.

At the same time, I would continue to avoid the financial sector, which is in a credit contraction the most vulnerable industry. It is only a massive injection of liquidity that could reignite a further up-ward move in the global asset bubble, which would be nothing else than another major debasement of paper currencies.

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