Goldman Sachs News: Is Gold Benefitting From ‘Recession Fear’?

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Written by Mike Hammer

If there’s one thing your friendly Gold Enthusiast has learned, it’s not to blindly follow Goldman Sachs’ public “advice.” Too many times Goldman has “announced,” “advised,” or “letter” ‘d a position only for it to immediately go the other way.  If it wasn’t heading that way already.

We’ll call this The Goldman Rule because we need a chuckle this Wednesday.  The clouds have returned after almost a full day of sunshine in upstate New York, and we’re looking at 4 or 5 more cloudy days in a row.  So we need all the little giggles we can get.

Heck (apologies for strong language), a few years ago Goldman was charged with hiding important information about a new security they constructed. The usual excuse for putting investors on both sides of the same trade is “different investments are appropriate for different investors.” That didn’t…

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About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated with a business degree, then worked with Macy's. After Macy's he spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined a well-known financial planning firm as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where he worked first for a small manufacturing consulting company, then a major university. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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