The one thing a retired person has to do that most of us ignore in our younger years is have a firm plan in place for market corrections.
Most of us do not have the time to recover from a big loss.
And from my perspective, the markets so far in 2015 have been showing all the signs of another rough period in our future:
Remember, uncertainty drives markets down as much as bad news ever has.
All of these rough spots tell the contrarian in me that it's time to take another look at gold.
A Tough Time for Gold
The yellow stone is touted as the “safe harbor” and is supposed to shine during bad times, like an economic crisis, a war, a period of inflation or a drop in the market. But despite the accumulating factors that normally drive gold up, it has been stubbornly sitting at almost $900 an ounce below its high.
That's a 47% disparity. No one wants it.
A recent report shows that only 10% of investors are bullish on gold and, according to our sources, investors are short 16 million ounces of gold. The long-term average going back to 1995 is just 3.9 million ounces.
In my 30 years in the market, I've learned that whenever everyone is as negative and as dead-set against something as they are against gold right now, it is time to take another look.
