Then a study that Market Anthropology has been publishing lately would issue a major, major sell signal.

Here’s the link.

While both precious metals and equities have their own respective arguments, this study is fantastic in the simple context of the demand for risk assets. As you’ll notice, it issued sell signals before the 2000 crash and 3 from late 2007 – late 2008. Basically, it’s been spot on.

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