While I didn’t have a chance to get down to the NY Hard Assets Conference in New York City May 11th-12th, Daryl Montgomery of the NY Investing Meetup did attend. Honestly, I counted on him releasing a good summary and review of the conference so that I could focus on trading and managing positions in this crazy market! (did I say that out loud?!) He didn’t let me down, and wrote an excellent summary of the conference on his blog, along with his take of the “experts” in attendance and their “predictions”. It’s definitely worth reading the full article. Some key points are included below:
“In contrast to the reliable and bullish Aden sisters, Robert Prechter was bearish on gold. Unlike the Aden sisters, Prechter has made some spectacularly bad predictions and you easily have lost all of you money more than once if you listened to him. Why he is still given a public forum is beyond me. Peter Schiff on the other hand is bullish in the long term. He has been consistently bullish even as some small cap gold stocks have lost 90% or more of their value.” …
… “There were only about a third as many exhibitors as there had been in 2008 and maybe a third as many attendees as well. Lack of interest in an investment category is a classical contrary buy signal. [emphasis added] The opposite is true as well. The huge Real Estate Expo that packed the Javits Center with 10,000s of attendees in the mid 2000′s took place at the top of the housing market.”
I must confess that over the last two weeks of this kind of particularly unhinged election spiral, despite the brief mental refreshment I experienced with the Restoring Sanity Rally upon Saturday, I have once for a second time begun to suss out suitable caves from the Northwest Territories of Canada to i always can retire and get rid the intellectual and meaning potato sack sprint for the bottom that is your national political conversation.