"The active investors who do their homework and add to market liquidity and price discovery are shrinking in number. The passive investors who free ride on the system and add nothing to price discovery are expanding rapidly. The parasites are starting to overwhelm the elephant."
The wealth of the top 1% globally has surpassed $100tr now… a number greater than the sum of the big-4 central bank balance sheets, current world GDP and the cost of the ‘07/’08 global financial crisis.
"Just look at U.S. Housing Macro Surprise Index and U.S. Homebuilder Stocks Index – it’s declined tremendously this year. The S&P Supercomposite Homebuilding Index is down 21% year-to-date and on pace to be the largest annual drop since 2008..."
"Given that state of affairs when the catalyst occurs - Trump impeached, Brexit fails, Merkel overthrown, a King Leopold moment, or simply the outbreak of hostilities between the U.S. and Russia over Syria - it will be the ride of a lifetime for gold investors. And an incredibly stressful time to be alive..."