“What a wild week it was! Last week, the US bumped off Osama bin Laden. Silver collapsed. Unemployment looked terrible on Thursday…and better on Friday.
Stocks looked like they were in trouble…but then seemed to stabilize by week’s end.
And President Obama suddenly became The Decider.
What do you make of it? Or, a more practical question, if you’ve got money to invest, what do you do with it?
On Friday, gold closed at $1,491 – about 5% below its all-time high. Buy it now? Or commodities, when they too seem to be coming off record highs? Oil was down 10% last week. Buy stocks – when all the evidence shows that they are vulnerable to a big downswing…and will probably produce sub-par returns for many years?
What’s the alternative? Hold cash!”
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