In 2001, I invested in a gold closed-end fund and held it for 4-5 years. My rationale was based partly on what was then a low gold price and on this particular closed-end fund’s hefty 30% discount to net asset value. Since I sold the fund, the price of gold has more than doubled. Despite leaving a lot of profit on the table, I haven’t looked back since selling. Still, I keep tabs on gold because it’s become such a mainstream story.
It’s so mainstream today that everybody seems capable of effortlessly making the case for the yellow metal. I have been challenging gold bulls for more than a year. My latest effort in this regard is my September Investment Executive article. I’m no gold expert but any investor investing significantly in gold should consider the data and questions contained in the article.
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