Marc Faber, Dollar Will Eventually Go to Value of Zero, Oct 26, 2009

Debaser82 · Oct 30, 2009

Quote from makloda:

I call it sensationalist marking. He has a product to sell (newsletter and appearances) and he needs headlines.

Hey, it's a free market.

Ivanovich · Oct 30, 2009

Quote from Fractal:

Cold, a better investment in time would be to cease creating aliases on ET, log off, and seek the support of your local psychiatrist.

Not cold's IP.

Swan Noir · Oct 30, 2009

Bingo. The man has it right. Faber in years past has been interesting to listen to (although I never back any pundits opinion) but he has mastered what pundits all must do eventually to make real money.

Give headline writers the sensationalist headline and broadcasters the over-the-top sound bite. The formula brings in subscribers and that means income.

Quote from makloda:

I call it sensationalist marketing. He has a product to sell (newsletter and appearances) and he needs headlines.

Fractal · Oct 30, 2009

Quote from Ivanovich:

Not cold's IP.

Gotcha, I take it back.

Rearden Metal · Oct 30, 2009

Quote from Swan Noir:

Is it reasonable to buy the out contracts ... say June '10 instead of the Dec. '09 in order to roll them less often. Or is there a way to roll them at lower cost. Seems to me many who think gold is a reasonable investment (as opposed to a trade) intend to hold for years not months

I don't really have a good answer on that one, and have never personally tried buying distant month contracts.

I stick with (near-month) futures, ETF's or leveraged ETF's (like DGP), despite the drawbacks.

Debaser82 · Oct 30, 2009

Quote from Swan Noir:

Bingo. The man has it right. Faber in years past has been interesting to listen to (although I never back any pundits opinion) but he has mastered what pundits all must do eventually to make real money.

Give headline writers the sensationalist headline and broadcasters the over-the-top sound bite. The formula brings in subscribers and that means income.

Up untill a year or two back his GloomBoomDoom report was free and after charging 200$ for it for a years subscribtion (which is quite moderate really) he is known for using a substantial part of those proceeds to support the Child's Dream charity, a tax-exempt Charity Organization that supports the poorest of Thai children in their education.

http://www.gloomboomdoom.com/public/pSTD.cfm?pageSPS_ID=5300

He is a saint!

nelsanity · Oct 30, 2009

Quote from Swan Noir:

Is it reasonable to buy the out contracts ... say June '10 instead of the Dec. '09 in order to roll them less often. Or is there a way to roll them at lower cost. Seems to me many who think gold is a reasonable investment (as opposed to a trade) intend to hold for years not months

It's always best to trade as close to Front as possible. You get the best price discovery. Rolling is very cheap compared to the price discovery you lose by going farther out. My firm has permanent positions and we always trade front and roll as market rolls.

mokwit · Oct 30, 2009

Quote from WallStWhizKid:

Roubini, Schiff, Celente, Rogers, and Faber have become fame whores. At one point they made sense. Now they are talking out their asses with their future forecasts.

It's the nature of their 'prediction' business, they have to make even more breathtaking predictions to keep their subscriber/viewers attention and not be eclipsed by a competitors outrageous predictions.

Swan Noir · Oct 31, 2009

Makes sense. The ETF's seem to frequently under perform the market and it has been written that because it is easy for experienced traders to know when they will roll their positions they get killed on the roll over. Any feeling if this is reality? Any estimate on what I give up rolling them?

Thanks. You have already been helpful.

Quote from nelsanity:

It's always best to trade as close to Front as possible. You get the best price discovery. Rolling is very cheap compared to the price discovery you lose by going farther out. My firm has permanent positions and we always trade front and roll as market rolls.

Swan Noir · Oct 31, 2009

Nelsanity agrees with your opinion that the near month makes more sense. Thanks for the comment.

Quote from Rearden Metal:

I don't really have a good answer on that one, and have never personally tried buying distant month contracts.

I stick with (near-month) futures, ETF's or leveraged ETF's (like DGP), despite the drawbacks.