15 Apr 2013 Gold hit by sharpest tumble in 30 years Bill Gross of Pimco, the world’s largest bond fund manager, in February described gold as a “decent hedge” “OK, so I made a bad call,” he admitted in a tweet on Monday, but added that he “would still buy gold here”.
Dataroma's opinion:Some "safe haven"!
It's doubtful Bill Gross has any clue what gold is really worth, or
Mike "Mish" Sherlock for that matter. Mish, a gold bull, now suggests "everyone must do their own due diligence and assess market conditions before making investment decisions"! Exactly how do you do "due diligence" on gold or "assess market conditions"?
In reality gold is only worth what people say it is. It has no earnings and no intrinsic value. It's a useless metal. It's a greater fool investment.