Higher real rates and an upward-trending dollar spell trouble for Gold, with ETF outflows and shrinking longs in the futures market underlining weaker investor appetite
The metal has fallen below the 200-day average, with both the 100-day and 50-day moving averages trending lower. And given gold’s propensity to trend, this is NOT a positive for Gold. However, a quiet season in the jewelry market should see some pick up as the Hindu festival of Diwali approaches in November. This event is associated with gold gifting, and kicks of a wedding season in India that also features strong demand. Source: Bloomberg
Food for thought
Source: Brian Feroldi / Compounding Quality
How all 3 Financial Statements Connect
by Josh YourCFOGuy
Active vs. passive management
source: Brian Feroldi
Quote of the day by Ben Graham
Source: JC Parets
Nice infographic about the right and wrong reasons to SELL a stock
Source: Danielmnke.com
How to find great stocks
Source: Compounding Quality
Michael Burry is an outstanding contrarian investor and did exceptionally well during the 2006-2008 US housing crash
However, performance is not always repeatable and his next bets haven't paid off that well (at least the market views shared publicly - hedge fund long-term performance looks quite strong on a sharper ratio basis). Adam Khoo had a look at all of Michael Burry's recent predictions and he shared it with a chart on X. Here's a summary: In 2005, Predicted the collapse of the subprime mortgage market -> Housing market crashes in 2008, Global Financial Crisis. On Dec 2015, he predicted that the stock market would crash within the next few months. -> SPX +11% Next 12 months. On May 2017, he predicted a global financial meltdown-> SPX +19% Next 12 months. On Sept 2019, he predicted that the stock market would crash due to a bubble in index ETFs -> SPX +15% Next 12 months. Source: Adam Khoo Trader
