There Is No Objective Way to Value Gold

choi

本文通过一路BBS站telnet客户端发布

(1) Liam Pleven, Jonathan Cheng and Tom Lauricella, Market Rout Claims New Victim. Investors dump gold, silver to pay for losses; all eyes on IMF this weekend. Wall Street Journal, Sept 24, 2011.
(world stock markets plummet)

My comment: There is no need to read the rest.

(2) Jason Zweig, Is Gold Cheap? Who Knows? But Gold-Mining Stocks Are. Wall Street Journal, Sept 17, 2011
http://online.wsj.com/article/SB10001424053111904491704576575051077746110.html
or
http://finance.yahoo.com/banking-budgeting/article/113520/gold-mining-stocks-are-cheap-wsj
("Unlike bonds, which provide interest income, and stocks, which produce dividends and earnings growth, gold generates no cash flows. As John C. Bogle, founder of the Vanguard funds, told me two weeks ago, gold 'has no internal rate of return.' As a result, there isn't any reliable way to tell what it is worth.



--