Blue Chip Stocks as Alternative Stores of Value When the world is going to hell on a Harley, investors find few places to hide: Treasury bills, gold, Swiss francs”or the stock of McDonald’s Corp. –Holman Jenkins, “What Pepsi Can Learn From McDonald’s“; The Wall Street Journal (1/27/2012) To Jenkins’ list, I’d add Coke, Phillip Morris,...Read More
The OTHER Problem with Sky-High Gold Prices No, Donald Trump doesn’t have that many ex-wives (yet). What I actually had in mind was the distorting effect high gold prices have on economic activity. That’s in addition to the economic cost associated with skittish, defensive investors shifting a fraction of their liquid assets from “fiat money” (paper) to...Read More
