Gold performance during times of deflation

Everyone is absolutely certain they know what gold will do in times of inflation - obviously we'll have a repeat of the 1970's when gold gained in relative value terms, kept its purchasing power, and provided a hedge against inflation.Viewing the remainder of this article requires a Subscription

If leverage is free, is every price reasonable for real estate?

Here's the dilemma - you see a house selling for a certain amount and realize that it doesn't cost you much to finance it, because your carrying costs are low.Viewing the remainder of this article requires a Subscription

Gold, repo rates, and backwardation

From the FT.com:
The conspiracy channels continue to make a big deal about the backwardation of gold — which is a situation in which gold prices for today are higher than for tomorrow.
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Value indicators are hard to time, but shouldn’t be ignored

I often write about market valuation metrics, from CAPE to Q, and the conclusion is always the same: they're all really bad to use as timing factors.Viewing the remainder of this article requires a Subscription

John Bogle talk about retirement savings, investing, and indexing

When John Bogle speaks, I like to listen. His simple, straightforward approach makes sense to me and has proven itself over time.Viewing the remainder of this article requires a Subscription