Most of the emails I have received the past couple of weeks that are related to Jim’s prediction of $1,650 gold in January of 2011 have been gracious and have expressed heartfelt appreciation for Jim’s steady hand of guidance over the past 7 or so years. The deep admiration for Jim’s selfless giving of his years of experience in the financial realm, has shown through so many of these emails. It truly is an uplifting experience to read them. For those of you who have taken the time to do so, my sincere and heartfelt thanks.
Sadly, there are some who instead of focusing on the nearly flawless track record that Jim has secured over these past years in providing general price levels that would act as signposts along the way of this now decade long bull market in gold, have chosen to carp and criticize because gold is not within a $100 or so of Jim’s price prediction for next month. To those of you who are so small minded and so ungrateful for the many benefits that have been freely given to you by my dear friend, I can only say that perhaps you would be best served by going elsewhere for your regular reading on the state of the gold market. It is evident that some of you are far wiser than the rest of us and are much more in tune with the gold market than Jim can ever possibly hope to be.
I would also suggest that since the world is in such need of your acumen and wisdom, you start up your own web site and provide your commentary to all free of charge, all the while maintaining the cost of servicing that web site out of your own financial resources.
The rest of us mere mortals, whom will benefit from such knowledge that drips from your lips like ripe pomegranates, will then have the luxury of watching you put your money where your mouth is, AHEAD OF THE FACT.
Here is the truth – those of us who are professional traders make our living IN THE MARKET, not OFF OF THE MARKET. We have to possess the courage of our convictions and put our money on the line every single day. Sometimes we get it right; sometimes we don’t. The key to measuring success in this business however is not how we make out on each individual trade but rather how we do on our collective trades. If we are right more often than wrong, we succeed and thrive. If not, we are soon gone and looking for a different profession. Those of you back seat drivers who are only brave enough to call a market after the fact would do well to remember that before becoming too full of yourselves.
Here is wishing all our readers, even the jerks, a Happy, Safe and Prosperous New Year. Thank you for the many kind words of encouragement and appreciation that we have received over the past year. I do not know what the year that lies ahead holds for all of us, but one thing I am certain of, the policies being advocated by the current Federal Reserve, and those being followed by the ECB and the BOJ for that matter, will not end well for anyone. If printing money into existence was the path to lasting prosperity, nations far wiser and of more duration than ours, would have long ago discovered it. History, unfortunately, is not on the side of such things.