Since US markets (and others) are closed for Good Friday, this installment of Five for the Weekend appears a bit earlier. Precious metals are rocking the joint, and I suspect we'll see a correction at some point. I've been expecting a good-sized correction for several months now.
If I was more of a traders, I'd be tempted to take some profits -- some, not all -- in gold and wait for a temporary sell off in metals. But I don't want to get cute. I have conviction the longer term Bull trend holds -- gold is still underowned, despite what we hear -- and I'm willing to endure a correction in the meantime.
With that, here are five items you can check out over the long weekend.
- Jim Rogers gives an interview, and discusses the prospects of a bubble in gold and silver (HT: LewRockwell.com). He doesn't think we're there yet. Rogers said: " My hope is, silver and gold and all commodities will continue to go up in an orderly way for another ten years or so, and eventually the prices will be very, very high".
- Sticking with gold, I caught Ben Stein on Bloomberg TV yesterday. He freely admits he's been wrong on gold, but said it only has two uses -- jewelry and some industrial uses. He forgets (or just doesn't believe) that gold IS money. Something Richard Russell of Dow Theory Letters could tell him. See one of his latest pieces here.
- Geoff over at Gannon on Investing recently reported that Japanese stocks now account for 34% of his portfolio. They are micro-caps and he expects to hold them for at least one year. Geoff also has some others posts on this topic, so be sure to check his blog out if you're not already a regular reader.
- Jamie, a Controlled Greed reader and former Dow Jones writer, posted a comment about a new website he's involved with called SharedResearch. He says, "It's a bilingual Japanese and English site with in depth coverage on 27 (currently) small and mid-cap Japanese co's. The largest is about $2.7bn in mkt cap and we go down to about $50mn in market cap, most of the coverage is in the $200-800mn range." I haven't rummaged around it in much at all, but it looks interesting.
- Africa-Asia Confidential (the sister publication of Africa Confiential) explores the relationship between China and the Mugabe regime in Zimbabwe. Interesting to note that the interests of the Chinese government and Chinese businessmen are not always the same.
If you celebrate Easter, I wish you a joyous holiday. And I wish everyone a happy weekend. I'll see you next week, and may post over the weekend if anything worthwhile pops up. Cheers!