Wealth of Ages

"Crazy. I mean, like so many positive waves...maybe we can't lose."
--Oddball (Kelly's Heroes)

Richard Russell sagely articulates what, in my view, is the proper way to view gold. The actual physical metal should be viewed as an integral part of one's estate that is never held for sale.

I like to think of it as pure wealth--the type that one seeks to accumulate and pass down to subsequent generations. Hopefully, they'll add to it and do the same. Heirloom wealth.

He also suggests that ounces accumulated matter more than price paid. I think he's right, although I like to spread my buys over time to manage risk.

position in gold