<story><title>Gold price rises above $2k for first time</title><url>https://www.bbc.com/news/business-53660052</url></story><parent_chain><item><author>obayesshelton</author><text>Might be a good time to sell then.&lt;p&gt;&amp;quot;While sitting in the shoeshine chair, Kennedy Sr. was alarmed to have the shoeshine boy gift him with several tips on which stocks he should own — yes, a shoeshine boy playing the stock market.&lt;p&gt;This unsolicited advice resulted in a life-changing moment for Kennedy Sr. who promptly went back to his office and started unloading his stock portfolio.&lt;p&gt;In fact, he didn’t just get out of the market, he aggressively shorted it — and got filthy rich because of it during the epic crash that soon followed.&lt;p&gt;They don’t ring bells at the top, but apparently when shoeshine boys start giving stock advice it is time to head for the exits.&amp;quot;&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.businessinsider.com&amp;#x2F;how-to-spot-stock-market-bubbles-2017-10?international=true&amp;amp;r=US&amp;amp;IR=T&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.businessinsider.com&amp;#x2F;how-to-spot-stock-market-bub...&lt;/a&gt;</text></item></parent_chain><comment><author>ta1234567890</author><text>This anecdote illustrates how the market could be seen as a big society-level pump and dump scheme. The guys at the top invest early at a low price, then pump the investment downstream as much as possible, then dump when things start looking too much like a bubble (i.e. &amp;quot;the shoeshine boys start giving stock advice&amp;quot;). If enough people at the top dump at the same time, the bubble bursts and there&amp;#x27;s a crisis.&lt;p&gt;Even if some of the guys at the top couldn&amp;#x27;t get out in time, they are unlikely to get ruined by playing the game. The guys at the bottom on the other hand, usually end up literally paying the price for their risk-taking.</text></comment>
<story><title>Gold price rises above $2k for first time</title><url>https://www.bbc.com/news/business-53660052</url></story><parent_chain><item><author>obayesshelton</author><text>Might be a good time to sell then.&lt;p&gt;&amp;quot;While sitting in the shoeshine chair, Kennedy Sr. was alarmed to have the shoeshine boy gift him with several tips on which stocks he should own — yes, a shoeshine boy playing the stock market.&lt;p&gt;This unsolicited advice resulted in a life-changing moment for Kennedy Sr. who promptly went back to his office and started unloading his stock portfolio.&lt;p&gt;In fact, he didn’t just get out of the market, he aggressively shorted it — and got filthy rich because of it during the epic crash that soon followed.&lt;p&gt;They don’t ring bells at the top, but apparently when shoeshine boys start giving stock advice it is time to head for the exits.&amp;quot;&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.businessinsider.com&amp;#x2F;how-to-spot-stock-market-bubbles-2017-10?international=true&amp;amp;r=US&amp;amp;IR=T&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.businessinsider.com&amp;#x2F;how-to-spot-stock-market-bub...&lt;/a&gt;</text></item></parent_chain><comment><author>bmmayer1</author><text>By your logic, this is precisely the time to sell non-gold equities -- with comments like Portnoy&amp;#x27;s &amp;quot;put any 3 letters together and buy that&amp;quot;[1], not the time to sell gold, which is behaving exactly as you would expect it to behave when confidence in other asset classes (especially the US dollar) is sinking.&lt;p&gt;Disclosure: I own gold.&lt;p&gt;[1]&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;twitter.com&amp;#x2F;stoolpresidente&amp;#x2F;status&amp;#x2F;1272886621030014979&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;twitter.com&amp;#x2F;stoolpresidente&amp;#x2F;status&amp;#x2F;12728866210300149...&lt;/a&gt;</text></comment>