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Their wordsI've shared this admittedly cherry-picked chart in the past to support my view (which hasn't changed) that gold is a great trading vehicle, but it is not a great long-term investment.
Their wordsI like to say that the worst ten year period for any backtest is the next ten years, but I think that this simple trend following rule should continue to be effective in the future.
Their wordsThe reason why trend following works with gold is because gold doesn't trade on fundamentals, it trades on sentiment and emotion, which looks something like this.
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