Gold at AU$44,000/oz, page-113

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spartan300

191 Posts.

44

09/07/18

09:09

Post #: 34218885
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Originally posted by Skol ↑

OK. I've already done it here before. It will prove gold is the absolutely worst investment over any decent period of time. I will compare it with the DJIA with dividends reinvested. House prices are trickier - finding the relevant info, depends on what area you live in and whether you include rent.

I've owned a fairly average industrial property for 32 years, I could compare gold with that if you like, but you'll be disappointed because it's made me a small fortune.

I'll get back to you this afternoon, I'm busy this morning.

Goldbugs suffer from what's called 'confirmation bias'. They're always thinking of reasons to own gold or silver even though it's been a terrible waste of money for years. They'll tell you it's 'insurance', the 'global reset' is on the way, it's maintaining my lifestyle' (?????), "Great Depression 2' is just around the corner, etc. etc.

Confirmation bias, also called confirmatory bias or myside bias, is the tendency to search for, interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses. It is a type of cognitive bias and a systematic error of inductive reasoning. People display this bias when they gather or remember information selectively, or when they interpret it in a biased way. The effect is stronger for emotionally charged issues and for deeply entrenched beliefs. Confirmation bias is a variation of the more general tendency of apophenia.

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Well if I look at the aussie dollar gold chart for the last 20 years I see a different picture of what you paint.

Does that look like a graph of a failed investment to you?

Crom Valen has got you in one:

You are indeed the Master of Disingenuity !
9 Upvote

0 Great analysis

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