Insights from Tocqueville - Page 8 of 14
Paper Gold: Utopia for Alchemists

Paper Gold: Utopia for Alchemists

An acute shortage of readily marketable physical gold is developing that we believe will deepen in years to come. This possibility seems to be unrecognized by those who are short the gold market through paper contracts. The relentless dumping of synthetic or paper...
The 0.1% Solution

The 0.1% Solution

Conan Doyle fans will recognize the reference to the eminent denizen of 221B Baker Street in the title of this note, but it isn’t for the benefit of Dr. Watson that we are penning this brief. Rather, it is for Dr. Yellen. Economic stimulation in the form of low rates...
Caveat Emptor

Caveat Emptor

Buyer beware: ETF’s may not be what they appear Exchange Traded Funds (ETF’s) have been all the rage the past few years as money has flowed out of actively managed portfolios and into investment vehicles that mirror various indices. After all, portfolio managers...