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Category: Commodities

Gold Miner Myths

“Gold Miners are a leveraged play on Gold” “Gold Miners are a good hedge against the S&P 500” There are few sectors in the market that generate as much attention, emotion, and misinformation as the Gold Miners. You’ll often hear some version of the two quotes above, stated as fact. Let’s evaluate the data to […]

Few assets in markets generate as much love and hate as Silver. There’s not a day that goes by without a multitude of extreme predictions on where the metallic element is going. After Silver has had a sharp rally or sell-off, these predictions only intensify as emotions run wild. We are in one of those […]

This webinar is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation regarding any securities transaction, or as an offer to provide advisory or other services by Pension Partners, LLC in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under […]

Do commodities enhance a typical 60/40 (stock/bond) portfolio? That depends on a) who you ask, b) when you ask them, c) how you define “enhance,” and d) how you define “commodities.” In 2005, Gorton and Rouwenhorst found that an equally-weighted index of commodity futures (from July 1959 to December 2004) had historically produced the “same […]

The Metal That Failed Economics

Dr. Copper, Dr. Copper, Dr. Copper… Can we please stop with the “Dr. Copper” references? Not only does Copper not deserve a PhD in economics, by any unbiased measure it has failed Economics 101. Why? Repeat after me: because the direction of Copper by itself tells you nothing about the U.S. economy or the U.S. […]