Moneytalk, October 12, 2012....Brinker said: "I would never even consider putting gold in an IRA....It is a speculative play....For those that want to have a hedge in gold, the easiest and cheapest way is with GLD."
__________________
May 28, 2011....Bob Brinker has altered his views about Gold and Silver over the past couple of years. He added GLD to his Marketimer "off-the-books" individual stocks recommendations two years ago. But has he ever officially recommended buying gold in any form?
Nope, Bob Brinker has never recommended buying gold. If he had recommended gold ten years ago, he'd look like a genius now instead of a market-timer who missed the worst mega-bear market of our lifetime in 2008 and early 2009. Instead, he wants Moneytalk listeners to think he recommended gold when it was 50% lower. Here's the truth that Brinker doesn't mention on the air:
For at least two decades before gold began a relentless climb in 2007, Bob Brinker would tell callers that owning gold was "dead money." A number of times before 2007, Bob Brinker told the Moneytalk audience that anyone who had invested in gold in the last 20 years was underwater.
He would regularly tell callers that he did not own gold and had never recommended buying it, but he'd say that IF someone was determined to own a "small amount as a hedge,” then he would recommend using the gold ETF as a purchasing vehicle. [GLD] Brinker is definitely opposed to buying numismatic coins and has said so many times on Moneytalk
So it wasn't buying gold that was his recommendation, it was using GLD to purchase it IF you were determined to own some gold as a hedge against the dollar. See the difference?
So after Gold had made gains to new heights, Brinker seemed to mislead the audience into thinking that he had recommended it back when it was much lower. Notice the CAREFULLY chosen words that Brinker used in these quotes from Moneytalk:
Brinker said: "I've said many times that if someone wants to have a small percentage of a portfolio in a gold hedge -- and I like GLD, the Exchange-traded-fund ..... GLD is the favored recommendation. I remember when I first mentioned GLD on the program in connection with a recommendation as a hedge, it was about $50 a share and now it is well over $100."
Bob Brinker said: “Now a long time ago, when these shares were trading in the low to mid-$50s, I gave that recommendation on this program. That for listeners who desire to have a hedge in the gold market that I thought the security to use was the shares that trade under the ticker symbol GLD. Those are the Exchange Traded Fund Gold Shares. And at the time I first gave that recommendation to listeners that were looking for a hedge in gold, those shares were trading in the low to mid-$50s.
When I first started mentioning this years ago on the broadcast the GLD shares were in the $50s. They are now well over $100 per share.....I would say the general guideline we've used on the GLD shares for those wanting a hedge is to have up to 5%......"
David Korn wrote the following comments about what Brinker said in the paragraphs above:
"Caller: This caller owns some gold and wanted Bob's opinion on whether to continue holding it or sell. ....As far as whether to stay with gold, Bob said if investors want to own it as a hedge, that is fine. In fact, Bob said he just checked the numbers and Bob said since he has been recommending gold as a hedge for those who want it as a hedge, it is up about 40% and so it has done very well. Bob said if you want to own it as a hedge against inflation or whatever, you can do that, but Bob said he doesn't own it and doesn't see inflation. Bob said he has not missed out being in gold because he has been invested in the stock market and it is up over 100% in the last few years......
........This is a new one for Bob -- taking credit for making a recommendation on something he doesn't own and wouldn't own and said specifically he would not make a recommendation to own.Bob has been steadfastly BEARISH on gold for as long as I have been doing my newsletter."__David Korn
[Honey EC: David Korn has been writing summaries of Bob Brinker's Moneytalk for over 11 years, so if he says Brinker has always been bearish on gold, BRINKER HAS ALWAYS BEEN BEARISH ON GOLD!]Here are excerpts from the "individual issues" list in the May, 2009 issue of Marketimer. It was listed as a HOLD from the beginning, and he has never explained why he added it to this list or how much he recommends holding -- or at what price:
Click to view full size images.
As you can see from the May and June 2009 Marketimer excerpts above, Brinker actually issued a "buy" and "buy on weakness" on SU when he added it to the list at the same time he added GLD. He also recommended "purchase on weakness" for SPY, VTI, IWV and DIA, but there was never any buy recommendation for GLD. It was simply added to the list with no comment. It is still on the list as a hold.
No comments:
Post a Comment