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Raging Bullion: Is Gold a Good Investment?
Many Happy Returns
Why Would We Ever Buy Gold?
Gold has a really high ulcer index if you look at it. Which means that it has long periods of drawdown, which are usually quite deep. In the 1990s, the real return of gold was over minus 5% per year. So it peaked in 1980 and in real terms, it's below that level now. Like you wouldn't typically consider any other asset that had those properties. If you were just buying one asset, gold would be about the worst thing you could buy right.
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