Tag: media screw retail investors

29
Apr

How the media screws retail investors

 It was August of 2011.

 I was watching CNBC, and the talking heads were gushing about how $2,000-an-ounce gold was a done deal.

 Some were even calling for the yellow metal to hit $5,000.

 The air was thick with fear at the time – everyone was afraid the US would default on the national debt.

 (Remember that? The so-called “debt-ceiling” crisis?)

 The smart money – Wall Street pundits were saying – was buying up gold, gold ETFs and gold mining companies with both hands.

 The implications were clear – you’d better get in on precious metals, too… while there was still time.