Saturday, 7 January 2012

Gartman admits he made a bad call on gold


"Investment letter publisher Dennis Gartman declared Thursday that he was wrong about his bearish call on gold last month.

Writing in his daily investment letter, Mr. Gartman said he was reversing his position on gold, and now views the precious metal as being in a bull market."

and I love this part:

"When Mr. Gartman made the bear call last month, Mr. Grandich said he was willing to wager Mr. Gartman US          $1-million that gold will hit US$2,000 an ounce before it hits US$1,000 on the COMEX.

He even went as far as arranging for a law firm — Lomurro, Davison, Eastman & Munoz of Freehold, New Jersey — to hold the US$1-million in trust.

Mr. Gartman did not take up the offer."

- Read the full article here: