Investment Psychology Explained by Martin J Pring

Author:Martin J Pring
Language: eng
Format: azw3
Published: 0101-01-01T00:00:00+00:00

When I was a broker in Canada back in the early 1970s, for example, no one was particularly interested in gold, which was selling for about $100 at the time. Few people understood its role in the monetary system; most were interested in stocks or bonds. By the end of 1979, attitudes had changed. Participation in the gold market had greatly expanded from the usual speculators in the futures markets. Swiss banks had heavily involved their clients, and the public was now queuing up in the banks to purchase the yellow metal. Opinion on gold as an inflationary hedge had not only solidified but had attracted and seduced a naive public into the market as well.

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