Gold bugs have been around for over 100 years, lurking at the fringes of the investment community and singing the praises of the yellow metal to anyone who will listen.
As a result of the plunging US dollar, apocalyptic drops in asset prices and the commodity’s eight year bull market, gold has attracted a huge following among investors over the last few years.
How do you know if you’ve become obsessed with the gold trade? Taking a page from Jeff Foxworthy‘s You Might be a Redneck series, I thought I’d offer some guidelines…
- If you consider Diversification to mean a portfolio consisting of gold bullion, gold coins, gold bars and gold futures contracts…you might be a gold bug.
- If you’ve been growing your beard out since Obama was elected…you might be a gold bug.
- If the family dog’s name is Hyperinflation …you might be a gold bug.
- If you have a poster of a shirtless Peter Schiff hanging over your bed…you might be a gold bug.
- If you spent the summer up at the cabin storing your own urine for it’s nutrients…you might be a gold bug.
- If every single stock in your brokerage account contains the word “mining” in it’s name…you might be a gold bug.
- If you get your financial advice from the Glenn Beck show…you might be a gold bug.
- If you start off many sentences with the phrase “Once gold breaks 1000,” …you might be a gold bug.
- If your IRA jingles when it hits the floor…you might be a gold bug.
- If the name of your investment club is AU Guys…you might be a gold bug.
- If the panic room you’ve just installed has it’s own panic room…you might be a gold bug.
- If the birthday cards you send to friends and relatives include warnings about the danger of fiat currencies…you might be a gold bug.
Anyway, these were some possible ways I came up with to help you determine whether or not you’ve gone overboard on the whole gold thing. My commentary above is neither an endorsement or a disparagement of gold as an asset class worth investing in…I just wish the gold diehards weren’t quite so tedious.
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