Daniel R. Amerman, CFA

Daniel R. Amerman, CFA Articles

One of the most common reasons to buy gold is to use it as a stable store of value. This analysis uses 50 years of history to test that common belief, and finds it woefully lacking - for it misses the best parts of investing in gold.
There is a very good chance that there will be a recession within the next 1-2 years, and this could even occur within the next few months.
The fears of imminent recession have been multiplying, and this has led to 1) plunging long term bond yields; 2) yield curve inversions and near inversions; and 3) a fearful Federal Reserve going into "dovish" mode in the attempt to...
Stock market indexes are currently at record or near record highs, even as the chances for recession within the next 1-2 years seem to be rising. So how great would the losses be from these record heights, if the business cycle continues...
"Following the money" can be a good way of unraveling complexity. Sometimes what the technical jargon is covering up can be as simple as Insider A handing money over to Insider B in massive quantities - and when we understand that, our...
Sifting through the minutes of the Federal Open Market Committee (FOMC) to look for signals of changes in policy is a fixation for the financial media and the investment industry. Because both the stock and bond markets can reverse...
The most historically reliable way to create long term wealth is the reinvestment of cash flows over time, as earnings are earned on earnings, which are earned on earnings. Compound interest is the best known example, but the same...
If there is a new recession in the next few years, then it is highly likely that the Federal Reserve will take extreme measures in response, with the primary response being to swiftly knock short term interest rates back down to zero...
The Federal Reserve is currently communicating to the markets that it will likely pivot, and pause two strategies. The first pivot is to stop increasing interest rates. The second pivot is to stop unwinding the Fed balance sheet.
Whenever the next recession does arrive, what we know today is that it is unlikely to be a "normal" recession, by the standards of what most people have experienced in their lifetimes.

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USA has the world’s largest holdings of gold: 8,134 - representing 77% of its Total Foreign Reserves.

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