The price of gold is falling. Everyone seems surprised. John Paulson is selling his fancy house in Aspen. I don’t get it. Or maybe I do. I’ve been on record for a long time saying that gold was overvalued. And for a long time, the price kept going up. Was I wrong? Am I right?… [Read More]
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Tag: market efficiency
Why is John Paulson’s performance a surprise?
I often quote Po’s line from the movie “Kung Fu Panda”: There is no secret ingredient. Every time there’s a major market crash, there’s someone out there who called it coming and ended up making a fortune. And inevitably, that person never duplicates the feat. In the 1987 crash, it was Elaine Gazarelli. She called… [Read More]
