Ann: High Grade Intercepts and Conglomerate Review, page-54

It will serve well for people to go back and look who were those people beating the drum saying only BUY BUY BUY.......even posting their buy orders. Curiously, I never seen anyone posting their sell orders.
I am always a bit uncomfortable with a rise too fast too soon.
I made clear at that time that I was taking profit which I did. Nothing wrong in doing that. It is the only reason we all invest. I hold some and will be adding as it heads lower which I think it will. MOY is cheap but so are its other superior peers. I like MOY, I like the management but I don't think it should be valued higher than its superior peers. This is how I came to the opinion at that time which was based on comparative valuation and not any NUGGET HYPE.

There is the FED meeting coming up next Wednesday, till then gold and gold stocks will be under tremendous pressure. Depending upon the FED language, gold & gold stocks will react accordingly.
I think the FED will raise rates this time. Higher rates are good for gold not the other way round. The proof is to note what has happened to gold since the FED started raising rates in DEC 2015. (USD 1050-USD 1275)
The market will led people believe that higher rates are bullish for currency and negative for gold. Nothing could be further from the truth. A higher rates means the cost of money is going up, which means the money in hand buys less. So if the money in hand buys less, then the value of money is going down. Higher rates are negative for currency and bullish for gold. The only way higher rates are negative for gold that is if rates are far higher than the nominal rate of inflation. The world economy is far from it and rates around the world will be lower for quite sometime. That is the new normal. So the zombies sell gold and buy the US Dollar in anticipation and the smart money comes later and reverses the situation after the event. It has happened time after time, so I expect the same unless its different this time. Overall rates are a complicated issue and will take more than this to explain appropriately.

Anyway, I'll buy some if it heads lower or the other superior peers start running fast.