May 12, 2013

Jim Paulsen on gold: "The Armageddon premium is coming out"

People have been told the world is going to end for five years, and it hasn’t, so they’re finally moving on.  So even when crisis flashes now, you don’t get the same upside, and then in good times, you get more downside, and that’s what you’re getting in gold as the Armageddon premium is coming out.
 
~ James Paulsen, the Minneapolis-based chief investment strategist at Wells Capital Management, which oversees $325 billion of assets, "Gold Bears Pull $20.8 Billion as BlackRock Says Buy: Commodities," Bloomberg.com, May 12, 2013

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