Happy New Year to all my readers and I hope 2013 brings you peace, happiness, and profits. In 2012 the year can be boiled down into one basic trade, if you bought the dip in the summer in the right markets, you probably did fairly well. Most notably the biggest moves were in some of the markets where there was the most fear: the Euro, natural gas, and some European markets such as Greece and Spain. Other than that it wasn’t a very easy year for longer term trend followers with a lot of markets experiencing very choppy trading. We’ve had 2 years in a row now of a lot of choppiness and mean reverting moves in the markets, it should be interesting to see how things evolve in 2013.
As we reflect on the year and think about the long term big picture I’d like to share my favorite interview from 2012. There’s a lot of great points made in this interview from Frank Giustra on the long term outlook for inflation, the gold bull market, junior resource stocks, fear and greed, the Federal Reserve, and China among other things. Especially for gold bulls who’ve had a rough time of late I think you’ll want to check this out.
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