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Category: Gold

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 […]

What happens when an ETF gets too big for its index? This is not a hypothetical question. Last month it was reported that the Junior Gold Miners ETF (GDXJ) had amassed $5.4 billion in assets, a level too large for its index. In order to avoid exceeding 20% ownership in a few of its holdings […]

  • Posted in Equities, Gold, Markets
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What Happens When Gold is Oversold?

“Don’t gain the world and lose your soul; wisdom is better than silver or gold.” – Bob Marley There is no asset in the world that generates as much love and hate as Gold. There is not a day that goes by without a multitude of extreme predictions on where the yellow metal is going. […]

  • Posted in Gold, Markets
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What is Gold?

“On a final note, what was the one asset you did not want to own when I started Duquesne in 1981? Hint … it has traded for 5000 years and for the first time has a positive carry in many parts of the globe as bankers are now experimenting with the absurd notion of negative […]