by Jeff D. Opdyke
The Sovereign Investor
The time has come for us to practice a bit of modern-day alchemy — in this case, turning anything you can find into gold.
I’ve been doing that for most of the year so far. I’ve sold out of various stocks except those in industries in which I have strong faith for the future (energy, pharma, health care, gold mining) to buy physical gold. I have been selling items on eBay I no longer want — high-end photo gear and such, for instance, and using that cash to buy physical gold.
Let me stop here for a moment to assure you that I am not a “gold bug.”
I’m just an observer who uses his observations as a road map to the future. I pay no attention to what passes as immediate analysis in the popular press, because the immediacy is gone the moment an event happens — thus, whatever the press has to say about it is already outdated, which means you cannot act on it.