According to the U.S. Labor Department, the cost of employing a worker in the United States -- your salary and benefits -- grew at the slowest pace on record in 2009, a mere 1.5%. That's an absurdly low increase, especially for those of us whose state, local, or other taxes and other costs of living (which don'tcount in the inflation numbers) rose significantly.
As the gambler knows: "You gotta know when to hold 'em; know when to fold 'em." A lot of gold investors may have folded Thursday as prices careened below near-term support, but those more comfortable with the cards in their deck may be more inclined to ante up.
Not every company is slashing its dividend these days. Some of the market's better performers are easing up on their purse strings, sending more money out to their shareholders.
If the last two years have taught me anything, it's that I'm not nearly as smart as I think I am -- and neither is anyone else.
At one of Berkshire Hathaway's "Woodstock for Capitalists" events (also known as the annual shareholder meeting), Warren Buffett described the perfect business like this:
With gold prices burning straight through the roof of,
what I believe to be, a fiat currency
house of cards, investors hold understandably high
expectations for the performance of gold mining equities.
The conventional wisdom is clear: Bonds are best for
people in or near retirement. They provide the desired income
and can be much more reliable than stocks. Well... yes and
no, if you ask me.
"Never, ever think about something else when you should
be thinking about the power of incentives."
-- Charlie Munger
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