Often, the shiniest on-the-run asset class or stock market theme eventually leads to the deepest cut in your portfolio when the bubble eventually bursts. Conversely, true gems are often overlooked.
A pithy observation that the external appearance of something is not a reliable indication of its true nature often cuts both ways in markets. This week’s title is not a comment about the precious metal itself, which has been hitting new highs this year as the belief in the US dollar slowly evaporates with each flip and flop by US President Donald Trump.
Nor is this week’s opinion a comment per se on digital gold as crypto bugs like to imagine Bitcoin to be that had topped US$110,000 ($141,046) after it more than rebounded in line with risk assets following the tariff reversal on April 9. This writer, however, remains doubtful of the utility and value ascribed to the bulk of unregulated and speculative coins, including those minted by the US First Family.
