Stocks Have Broken Below Their Trendline. Will They Regain It? | Lance Roberts & Adam Taggart

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The unending string of up weeks we saw in stocks in Q1 has ended here in April.
The market had a volatile week, with the S&P ending roughly 100 points lower and bond yields continuing to rise, with the UST 10-year now over 4.5%
Notably, the S&P has broken below the bullish trendline it has been trading in since the bull rally began back in November.
The breakdown is unconfirmed as of yet. But if stocks close a little lower from here without regaining their 20 Daily Moving Average, then it will be...so next week will bear close watching.
Portfolio Manager Lance Roberts and I discuss this in depth - as well as Jesse Felder's "three 50s" warnings, inflation, bonds, the price action in gold & oil, as well as his firm's recent trades.
For everything that mattered to market, watch this week's Market Recap featuring Lance Roberts.
#stockmarketcorrection #bondyields #goldprice
_____________________________________________
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[@adam.taggart]

SUBSCRIBE TO OUR FREE NEWSLETTER at adamtaggart.substack.com (or upgrade to premium to receive our "Adam's Notes" summaries to this interview & all others on this channel)

[@Wesley3kb2sv9l]

Watching the market's ups and downs shows how quickly things can change. In the market, strategic, informed trading isn't a choice; it's a must. Remember, caution is as crucial as ambition here. This dedication to continuous learning is inspiring...i have delve deeply into active trading and managed to grow a nest egg of around 127k to a decent 532k... I'm especially grateful to Flora Elkin, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape..

[@normandholland8374]

It is really refreshing to see a comment about Flora Elkin.I have worked with her also for months now, reached out after reading more about her on the internet. she simplifies matters, whether it's a market surge or drop; her approach consistently keeps you ahead of the trend, She's a guru i'll say

[@mattdan5238]

Investing has proven to be an incredibly beneficial decision. My cryptocurrency profits continue to play a substantial role in growing my overall wealth, reducing my reliance on my salary

[@lucaspaciello866]

no sweat, just copied and pasted her full name on my browser, found her site at once and was able to connect, very professional... thanks for putting this out

[@sandrinhopjl]

Nice to see this here, Flora Elkin's understanding of market indicators is impressive. She knows exactly when to enter and exit trades for maximum profit. her siignals are top notch

[@user-si6mj7ex2v]

Lance mentions that we did not have inflation between 2008 and 2020. How about the massive inflation in financial assets?

[@FreeSpeech4All]

This. ^^

[@Eterna7Forms]

Or college/health insurance for that matter. He is full of crap

[@NV-uv3yz]

You could still buy a decent used car around those times for under $2,000. Sometimes $1,000.

[@patrickmcgoohan115]

Because the QE policies did not have the desired effect of inflation, the cash that was injected did not flow to the real economy but instead flowed in the economic economy raising asset prices. This seems to be because the "velocity" of money in the inflation equation has decreased, something that Milton Friedman did not experience when he reigned as a head economist. A certain amount of inflation is needed in the system to deflate debt, inflation = growth. The velocity of money dropped after the GFC and according to Adam's guest Chris Wilson, aging demographics are the cause. As you age, you focus more on saving for retirement instead of spending. Your already got your car, whiteware and clothes so you put your excess cash into retirement investments.

[@JeromePowell.]

Inflation is like bacterial pneumonia... It is not correct to stop taking antibiotics at the first sign of improvement in symptoms... if you don't take enough antibiotics for the necessary time, the disease comes back stronger and more resistant and it can be fatal...

[@getknowledge37]

Lance speaks in certitude in a world of uncertainty. The markets dynamics are constantly changing and we must always remember that in our assessment,

[@FreeSpeech4All]

Narcissism is a helluva drug.

[@MichaelHarrington17]

I think he actually is pretty measured in assessing uncertainty in terms of managing the risks and probabilities. He's confident in that he does that, but not predicting outcomes. And he admits to his mistakes. The idea of course is to keep our mistakes small.

[@Resmith18SR]

Lance: "I'm not a Prepper." Just stock up heavily on guns and ammo, grow your own food, make your own medicine, buy a lot of gold, and become a martial arts expert for self defense. The Apocalypse is nigh!!!😂🤣😂

[@mattanderson6672]

That's not considered prepping in Texas, that's a normal Saturday :)

[@Mrzizzy69]

@@mattanderson6672 LOL yep, isn't that like the prerequisite to pass kindergarten there ?? 😁😁😁

[@anniehooker]

Lance Roberts has to be the king of mansplaining. He must drive his family insane 😂

[@Resmith18SR]

@@anniehooker I pity his wife.

[@Resmith18SR]

@@anniehooker He must really think he's the epitome of the Macho Masculine Man.

[@RichardArthur-jh1ph]

Okay Lance, let's also look at the S&P or DOW measured against real money (gold) instead of in dollars. The graph will look a bit different given that the dollar has lost 96% of its value since 1971.

[@insomniactravels6185]

With all due respect, I take issue with Lance's example of "You can't buy a cup of coffee with gold and expect the get change back". Conversion of gold back into fiat does not happen at a coffee shop but at a gold dealer.

[@Resmith18SR]

And when you sell your gold at a gold dealer you lose money because you get back less money than what you paid for it. Just like when you buy gold the company selling it to you makes a sizeable profit as well.

[@rhwinner]

​@@Resmith18SRUh, no. 😅

[@Resmith18SR]

@@rhwinner So the company you buy gold from doesn't make any money or profit and the person you sell it to doesn't make a profit? What does Uh, No mean?

[@rhwinner]

@@Resmith18SR Hi, friend. They will buy it back from you at the spot price - commission. You said you get back _less money than what you paid for it,_ which is not the case. It might be the case if the spot price hasn't moved or gone down, but then that is the case with many assets not just gold.

[@rathelmmc3194]

That was his point. It’s not a unit of currency because you don’t use it directly for purchases.

[@brandonbaker5884]

We are 34.6 Trillion on the books and 130+ Trillion liabilities. This is increasing by 1 T every 90 days. Gold and silver are not going anywhere but up. You can stick to your debt time bonds and fiat paper and i'll stay in PM.

[@bradw2k]

Anyone selling gold today will regret it in 10 years.

[@CryptoGains-HU]

Thank you Adam for doing such great podcasts. You both are great!

[@marcgirard7551]

I’d rather miss the last 10% waiiting for the wreck than get wrecked for 40% and then have to figure out how to make 80% return to get back to even

[@Pik0l0]

If only we had a crystal ball. Better off taking a long term bet that equities will be higher. If you're so bearish remember the market is very well correlated to the feds balance sheet.

[@adam.taggart]

​​Scott Fitzgerald: “The test of a first-rate intelligence is the ability to hold two opposing ideas in mind at the same time and still retain the ability to function."

[@ronfesta771]

Me thinketh the., rubbing of your tummy whilst........patting your head!@!?🙂😁

[@erbterb]

What happens when you start acting on both opposing ideas at once? The climate globalists, set off a giant outsourcing scheme which increased the global use of fossil fuels, while at the same time "saving the climate" by flying to conferences across the globe. That is eating a cake, saying you want more cake, cake is bad for you, we must not eat cake, go to a cake conference throwing cakes at each other while printing money to get more cake showed down the throats of every hungry human.

[@Jalleur14325]

Gosh if only that was taught now. As a teacher I can tell you that critical thinking is discouraged and sadly kids are now taught "assessment objectives" rather than just learning, enjoying and answering questions with curiosity. In the UK a layer of "bullshit" jobs have been introduced to bother teachers. These "senior managers" sit in offices, looking at Excels, and then come and pressurise teachers about "value added" - with zero sense that value can be various things, not just an exam result. Anyway, long story short education is a bad way, and with kids consuming in their silos because of algorithms from social media, they aren't developing a critical mind.

[@jerrysteffy7900]

“ So we beat on, boats against the current borne crack ceaselessly into the Great Recession of 2009”

[@patrickmcgoohan115]

400 Phd's at the FED and no one warned that locking down economies for 2 years while flooding the M2 with cash would be inflationary? And when they did, they said it was "transitory". Hmmmmmmm........

[@JohnAnderson-wc2fw]

Haha didn’t care about the eclipse until I saw it. Truly awe inspiring, the neighborhood erupted. One of the coolest things I’ll ever see and the irony of Cleveland having great weather for it and Texas was cloudy

[@69elcuchillo]

I have 17 years of education. Loved my job as hand surgeon but now I love my grandsons one electrician & one in HVAC BOTH happy & me too.

[@donbrutcher4501]

Wife and I are boomers. As I watch this, she is starting her tomato plants. We don't heat with wood, but I have about three full cord of dried hardwood ready to be split and stacked. You can't cook food or heat your house with gold! I might swap some firewood for some fresh venison. My four best investments - wife, land, guns, backhoe.

[@richardm343]

Totally agree with you! I've said this for years.... what the hell are these people going to do with all their gold? It's NOT a medium of exchange. It's a shiny rock. My four best investments - wife, land, guns, table saw.

[@FreeSpeech4All]

Been thinking about getting a backhoe... and maybe getting rid of my side Ho. My 5 best investments? Wife, land, guns... ALL the tools (plumbing, electric, gardening, woodworking, welding, etc.)... and relocating to a like-minded rural community!! 😂

[@bnim85]

Adam, it would be appreciated if you would counter Lance’s arguments about gold with a bit more vigor. After gold has gone up, now we hear about how it’s in one of Lance’s portfolios. 🙄. And I’m guessing Lance’s mom doesn’t love him as much as he loves himself.

[@patrick3926]

Still my fav hour+ of each week 🎉

[@bitcoinwallet-tj5ue]

Great show again guys. Love the chemistry between you two.

[@MichaelHarrington17]

Lance's survival advice when the world goes to hell: make sure you're friends with Lance; he's got your back. ;-)

[@spaceshipmoon69]

Super helpful and timely! Thanks guys

[@petergozinya6122]

Thank you Adam and Lance

[@tnt_pkk1311]

Lance flip flop quite a bit about how market behaves. Someday he said market is looking 6 months, today he says it’s looking at today. Makeup your mind please.

[@europeantechie]

I love the idea of the substack premium content ! ! ! amazing

[@anniealexander9616]

Maybe it's time for people to stop expecting rate cuts. It's not that bad.

[@24BryanTolotti]

What a dumb statement. U been living under a rock for the last year. Wow u aren't bright

[@JeromePowell.]

For years, people believed that the right thing to do was to fight natural fires in forests as if they were harmful and terrible. Then they were faced with very devastating and uncontrolled fires simply because this interference prevented nature's cycles from doing their work at a natural time and on a smaller scale.

[@darrenmogg3440]

very good analogy

[@marcfd3756]

Great show! Thanks!

[@juansantos8719]

great show !!!! your interviews with Lance are amazing

[@mw2035]

Man…this is going to be fun watching people explain gold away. First time Lance has laid a big fat egg on this recap.

[@FreeSpeech4All]

Hardly the first time.

[@wasdwasdedsf]

its not nearly the first time

[@davidpatterson4024]

Great point about the variables and changes….

[@darrenmogg3440]

very good point Lance, on Confirmation Bias

[@JSS5391]

As always EXCELLENT

[@howdy4686]

Lance being a bit disingenuous with the gold talk. Not everyone in the gold camp is a doomer. And we dont hear market manipulation of PMs addressed at all.

[@wasdwasdedsf]

hes out of his mind and offhand dismisses criticisms to anything he says

[@jimmyb913]

I make the weekly market recap a mandatory weekend activity. Thanks for the content!

[@user-bm4ob3uq5m]

I enjoyed the charting tutorial. I would like for Lance to discuss the charts before black Monday 1987 (or other large corrections). It would help for those of us who feel that the market is at an extreme high and a major correction could arise

[@RageAgainstDEMachine]

Lance, thank you for sharing what some already know. It is an act of love to offer your advice on investing in lead, brass, and books!

[@hickok45]

I might possibly buy a little gold, but I'd never ever buy a gun. They scare me!

[@tehachapicollector3329]

*laughs in Sunday shoot-a-round

[@dtrout]

You could set up your own shooting range and practice at your own pace. You might like it! 😂 BTW - Love your channel.

[@gregory203]

🤣🤣🤣🤣🤣🤣🤣

[@gregory203]

@adam.taggart hickok45 is a legend! you've really got a broad audience!

[@Arion4062]

Thanks Adam and thank you once again Lance. Lance’s unfiltered thoughts on gold give me something to think about.

[@michaelmcnair1880]

thank you

[@yannickmerlet8338]

And that is why you never tell anyone about the gold, guns, food or water in/at your house.

[@gerrygadget]

Good discussion about TEOTWAKI and gold vs.lead! And skills.

[@henrykborecki3600]

@24:00 If gold is not a preservation of capital, do you suggest a stockpile of weapons-grade uranium?

[@Viper4ever05]

I rolled my eyes on that one.

[@vallmak]

Lance defaults to the dumbest comment possible.

[@chuqing99]

It's too early to take profit on gold. It hasn't doubled yet. But again, it depends on your investment time span. The central banks are still buying in the forseeable future.

[@michaelmcqueen4514]

Excellent Interview. Lance is the best ❤

[@jmcmob608]

Thank you very much...

[@patrickmcgoohan115]

A great weekly recap as usual. Recaps are partly why I followed Adam to TM. As Lance seems to state, rates have to be lowered or we get defaults, assets bub pops etc etc. At the same time,vdebt has to repaid, deflate it. There's a narrative that the system is broken. They can reset the system, possibly after a period of pain. I've heard CBDC enables negative rates. I've no idea how this affects repo market collateral. I can see how CBDC can increase inflation but deflation is the BIS nightmare.

[@markphillips2648]

Excellent explanations from Lance on “Narratives & Correlations!” I have been constructing non-correlated structures into my portfolio however trying to avoid a strong narrative one way or the other. If this was only easy I guess it would be !

[@DG-bo2tx]

Lance, make the same chart but pretend you live in Venezuela and start it in 2014. Does your thesis still stand. An ounce of silver in 2016 would have fed your family for 6 months in Venezuela. Lots of people were sifting thru trash looking for food. The world didn't end no emp exploded, there currency along with there stock market did.

[@detectiveofmoneypolitics]

Economic investigator Frank G Melbourne Australia is following this informative content cheers Frank 😊

[@vallmak]

Lance knows how to make his own medicine? So he doesn't know how to do his own job but knows how to do a scientist's job? OK...

[@FreeSpeech4All]

😂😂😂

[@mattanderson6672]

If you can grow your own food, that's the best medicine you can have

[@williamjf77]

Good point

[@matl7560]

Lance is the man!!! Keeps you on an even keel.

[@priscillasilverhouse3]

George Gammon with Rebel Capitalist just did an experiment when he traveled and tried to survive on Gold, Silver and Bitcoin. He had an impossible time using any of them as currency. Bullets, alcohol, gas, rice are jewelry would be easier to transact. Thanks Lance & Adam! You guys are awesome.

[@thach0x0]

His theory of 20 day moving average on S&P makes sense technically.Bravo ,Lance !

[@jonathonwagner2166]

I'd say gold frontruns inflation. It forsees it. And during inflation, when it's declining, it's front running the disinflation/deflation.

[@FreeSpeech4All]

Inflation is an expansion of the money supply. Gold usually goes up when that happens. Lance as looking at when that money makes it's way down into consumer prices (CPI) which doesn't happen until later. By then, people have moved from gold into the other things people will buy with the newly issued money.

[@ericaabrams6175]

U can get combi bars in gold and silver. Buy those if u think usd goes away.

[@ryukirito2616]

He says this about Iran and Israel, as I’m watching this Iran just started Israel with Drones….. 😂

[@mattanderson6672]

I swear I get more than just financial lessons from you two You're both like wise grandfathers when it comes to a lot more than money Thank you so much! I wish I could buy a Glock, but I live in the UK (booo!)

[@scottycooper8303]

I always love the way Lance explains the data!! My only thing in his gold explanation is that in my opinion you can NOT look at it in terms of dollars. You have you compare it versus other things of value!! Like oil-gold ratio, or gold - home price. You must look at the value compared to other things of value and not dollars!!! Like mentioned above the dollar has lost over 90+% of it purchasing power!!!! But keep up the Great Work Adam & Lance!!

[@justinwiedeman5017]

Agreed on Gold and Bitcoin. But perhaps Brics does a common currency in Gold? I own and will hold NEM.

[@nomadundercover3018]

First BRICS nations will have to stop the wars between then (China and India), settle their old border disputes (Russia and China on Siberia), stop staling from each other (Russia stealing natural resources from Siberian Russia) and get their poverty rates under control, before they could feasibly issue a common gold currency. Oh not to mention nobody would trust that Russia, China and Brazil honestly audit their gold reserves, let alone won't inflate this "gold backed currency." Monopoly money is more trustworthy, and the Hasbro corporation has a better reputation for honesty than Russia or China.

[@mak529]

Considering the Iran/Israel conflict preparing for tail events isn't such a bad idea...

[@supanova4126]

I disagree on college. A STEM or medical or accounting and finance degree holds a ton of value! It’s all the other nonsense that gets people in trouble. Add in a backstop for loans from the public sector and now risk and ROI go out the window. If student loans were market driven no one would get a loan for a dumb degree…but add in a Fed backstop and you can get a loan for any degree. This sound familiar to the mortgage crisis? Free mkts figure this out…add in govt and it’s over.

[@Viper4ever05]

Agree there's always accounting jobs available

[@ocox8659]

Agreed- Lance speaks too often in absolute

[@supanova4126]

@@Viper4ever05 absolutely. I’m a CPA and there’s a ton of CPAs retiring in the next 5 years there’s a big shortage. It’s a great field you can go into many sectors and industries.

[@pwatom22]

Always great info in these weekly videos. Seeing Lance here led me to watching his daily real investment show. Lance mentioned Amd but what about Intel? This is way down on past peaks and they have launched a new competitive GPU. It would be shameful for the Fed to take rates back down to the ridiculous near zero rates.

[@rhebert30]

Lance has been right for the last couple of years. At some point the market is going to drop 20% in a 2-week period, so let's hope he calls that before it happens.

[@mariapeisach8271]

I love your show, please limit it to an hour !

[@stvicina]

Best Thoughtful Money show ever!

[@one4change4thebetter]

You guys are very smart and you look at so many factors! Lance owns gold in just one portfolio. Imagine when they buy some gold in all their portfolios! Yet, a correction here is certainly overdue but the PM run isn't over until retail jumps on board. Growing some food is a very rewarding experience!!!!

[@darrenmogg3440]

in process or in PROGRESS?

[@eyce9]

What's a cut with no uninversion? Lance's hair style in this one! Rock it man!

[@geedoubleu641]

It seems to me like Lance is not objective regarding gold.

[@martinithechobit]

LETS GO!!!.

[@windsurfar9]

Thats a ridiculous gold argument and chart comparison... the important chart is to compare GLD, the ETF, to indexes. This is because with the advent of ETF's, many more people were able to buy physical gold easily in an ETF. Same argument the Bitcoiin people used on their ETF. Since the introduction of the GLD ETF in 2004, GLD is up 380%, S&P500 is up 340%, DJIA is up 260%, Russel 2000 is up 230%. So since the introduction of the GLD ETF, it has outperformed these indexes, and by quite a bit in the case of DJIA and Russel 2000. The NASDAQ led the group since 2004, by a large amount, however it is a bit deceptive as NASDAQ had crashed in 2001, and was still down 60% and out of favour in 2004. GOLD has outperformed inflation and the majority of stocks by a significant margin over the last 20 years.

[@davenchop]

lance roberts is correct about as many times as he is wrong so whats the point of listening to what he thinks..

[@jimscherer8072]

Good question Davey Boy. Why are you listening ?

[@machoheadgames8854]

At least Lance hasn't been 100% wrong like most of the other "experts" on this show.

[@jimscherer8072]

​​@@machoheadgames8854100% ? You sound like an expert of the "experts" Why do you listen ?.

[@paulherbert5548]

@@jimscherer8072 lol

[@davenchop]

@@jimscherer8072 ..well jimmy boy i wasnt listening but i enjoy the channel and used to listen to roberts but he was wrong too often to continue listening.. good luck on all investments for everyone

[@MrTigerStarX]

1:13:47 - Lance is terrified of inflation

[@bernieandangelagantert7852]

Lance You Nailed it. i have never worried about this till the last 4 years and I now know i should have paid attention many years before.

[@banditboy1965]

100% love the comments on end of the world scenarios Lance - it will have gone way beyond what the Fed says, the same club now will have their own compounds with a small militia, but the rest of us will need more than gold and silver to survive the chaos that would ensue.

[@RobWilliams007]

Lance, I get your point on gold, but the exchange for an ounce of gold vs other assets, has stayed pretty constant with a few aberrations - 2008. So X oz’s of gold buys the same median house that it did in 1971 - pretty close. You can’t say that for shares of the S&P or dollars.

[@maninderchahal2442]

Would be great to include bloopers. Waiting for the Rant. Thank you

[@adam.taggart]

interestingly, they're aren't that many outtakes. We keep in most of our goofs

[@FreeSpeech4All]

I can confirm. I've seen at least 3 times that Adam or a guest has said that they will cut something out in editing/post-production (but clearly they didn't or I wouldn't have seen it.) 😂

[@joycekoch5746]

The foreign workers I have seen are on a street corner with a cardboard sign saying "Pesea Helpa".

[@sivi9741]

The world lance was talking was “mad max” :)

[@ellensandles3629]

So, how is handing out too many bachelors degrees with “free money” diluting their value ANY different from excess spending covered by the Fed printing money, thus diluting the value of the dollar? Isn’t it the same supply and demand issue?

[@davewave36]

The cognitive dissonance between inflation experienced on the ground and academic rate cut expectations is astonishing.

[@SB-xm5uw]

Lance sometimes predicts things right, and sometimes predicts things wrong. I have never, however, heard him give bad advice. Until today. Never, ever put money long term in an inverse ETF. They key word here is long term. Short ETFs create inverse returns with options, or other mechanisms that decay. They're suited for 1 day bets, but in the medium term you pay that decay. In other words, returns(LongETF)+returns(ShortETF)

[@howdy4686]

Yea i was surprised by that, i almost thought i misheard him

[@Fish_Ventura]

It was crazy 10 yrs ago,, it was crazy in 2020. Thx Lance

[@robertharrelson5024]

Self reliance has its limits. Reliance on unity with others has no limits. Hope for the best prepare for the worst. What we cannot do in separation we can do together.

[@sevendays171]

The percent gains on gold vs. the S&P all depends on the starting point. If you take, say, the pre-Nixon price of $35/oz, your percent gains are now around 6,800%. You can also play around with inflation adjustments and all that to tell whatever story you want. I've heard that "stocks have outperformed gold! Buy stocks to hedge against inflation!" (usually from portfolio managers), and on the other hand I've heard that "gold has outperformed stocks! Buy gold!" (usually from precious metals people). You can easily make a chart to support either position.

[@superfluity-of-naughtiness777]

love how the guest is really into himself and how self sufficient he is and how prepared he is, while all us other folks (that have some gold on hand) will be dead in about a week, should things go belly up!

[@FreeSpeech4All]

Narcissists gonna narcissist.

[@JoshuaHumphreys]

He's getting tiring. The dynamic is awkward. Maybe time to move on, Adam.

[@vishwanathpatil2995]

This whole conversation around 40:00 reminds me of this quote “Hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times” from Michael Hopf.

[@MAMP]

Maybe Lance had a total eclipse of the brain!

[@glitchlife4639]

I would like to invest in Thoughtful Money. How do we do this?

[@adam.taggart]

Thanks for the interest! Not taking outside capital at this time. But taking any/all of the 3 steps I mentioned near the end of this video is a great way to support TM!

[@ChrisKAloha]

Has the RIA all weather beat Voo over the past 10 years? And how much did you have to pay for them to manage it?

[@eyce9]

You meant to say " We''ll get there with our Keynes and walkers." LOL luv ya guys!

[@chrisaversa9394]

Lance Robert’s and Peter Schiff need to debate gold. Adam please put that together, you would get a million views.

[@johnc4789]

I have no need to hear Peter Schiff. He had his time in the media 20 years ago, and proved himself to have no clue.

[@FreeSpeech4All]

I would love to see that debate! 😂

[@user-tj9mb3hy5b]

Love the dialog, debt is the long term issue. Plan on that.

[@justinwiedeman5017]

2026 tax increase on profitable equity. Fed will be a buyer when the Deficit decreases related to GDP. 2 Alternatives. The US has an austerity program. The US goes MMT and or YCC. Or both? Either results in an increase in Cap Gains on UST. So I'm adding. And shorting HYG in a lesser fashion. Looking for the MOVE to move... One of many. Love your insights. Thank you.

[@jonEmontana]

Learn to live in a tent off the grid for a few wks a year. You’ll learn a lot and see the world differently. I do it every fall for the pure freedom in it away from this crazy world and wouldn’t change that for anything.

[@ats89117]

The ancients discovered that if they banged things together, the eclipse would end. It took a long time for people to learn that the eclipse would end if they did nothing...

[@nomadundercover3018]

What is the source where you read that?

[@ats89117]

It's been attributed to Stephen Hawking, but I can't find a reference...

[@jackgoldman1]

Gold has outperformed stocks from 1971 AND from 1999. Gold is up 600% and stocks are up 300% since 2,000. This is the best kept secret on Wall Street. Gold out performed stocks by 100% since 1999.

[@scottycooper8303]

Adam… what was the name of the movie series y’all mentioned on Netflix?

[@jackgoldman1]

Stocks, over valued. Gold, under valued. Why not have both?

[@vonhayek]

He gives good advice, but Lance Roberts' argument that gold is not "protecting purchasing power" is not valid. Firstly, he takes a 50 year chart of the best asset in the world for that time period and gold underperforms it. No surprise. There is no question that over 50 years, stocks have done best. But he isn't 100% in stocks either. You could compare gold to S&P interval of 20 years and find intervals where Gold outperformed the S&P. Plus, he should compare gold to a money market fund. Inflation adjusted, gold is up on 30 and 50 year charts. Secondly, Gold, like any other asset will have periods of relative attractiveness. Obviously, in the current environment the attractiveness of gold is high. Gold is a fairly unique asset class that creates a lot of emotion, but Gold was about 380 dollars 1995, and is now 2350. This is a 7% rate of return. Not bad. Not great. If you bought it in 2008 at 1000 dollars you have earned 10%. For such a smart guy, he makes a poor argument on that point.