May 13, 2010

Anthony Scaramucci on the barbarous relic

They printed trillions and trillions of dollars of money, and gold has gone up a little bit, and it went up a lot today, okay, but do you really think that this is the answer? I'm thinking that gold is probably full to the top right now. Everyone in the market is long gold.

Gold is the twisted mistress of investment. It hurts everybody: it hurts the gold bugs; it hurts the gold bears; it brings everybody down over a long period of time. Be very careful on gold.

~Anthony Scaramucci, founder and managing partner, SkyBridge Capital, CNBC Fast Money, May 11th, 2010

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