Annals Of Overblown Stories: Ukraine And The Russia Meltdown


by Jerry Bowyer

Image via Liukov /

The events surrounding the political instability of Ukraine, and Russian exploitation of that instability, is a perfect example of the kind of event-driven (rather than principle-driven) approach of so much investment commentary which pushes people towards buying assets which have already gone up (such as gold), and towards selling assets which have already gone down (like Russia’s MICEX exchange), at the height of a crisis.

As the dust clears we see that the crisis took gold prices from a level which, according to our models, was at the low end of valuation in the 1,290 range and pushed the price up to levels which, according our models, would be at the high end of valuation at almost 1,400, and then all the way back down again.

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