As usual, I do not have an answer. However I can lead you to the definition of “Irrational Exuberance”…I hope at least some of you know its association with Alan Greenspan!
Well this is what it means:
When all people believe that:
• The reward will outweigh the risk
• This time it will be different
• Any setbacks will only be temporary
• Anyone who disagrees with the above is stupid
Is gold in that territory? Well it over do its performance in 2011. So it may consolidate in 2012….and like any volatile asset class…it could do well in 2012/13…but all are guess work.
Frankly it could be an asset class that will do you proud…………but it may not too 🙂
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