subscribers to Richard Russell's Dow Theory Letters were digesting his recent call to increase their asset allocation for gold and gold shares from 5%-10% to "at least one-third" of their liquid assets.
Although the publisher and editor of the market newsletter has been singing the praises of the yellow metal since the beginning of the year, his late August recommendation was noteworthy, in light of gold's already comfortable rise, and for the size of the allocation he suggested.
Investors should "sell whatever they have to" to buy gold and gold stocks, says Russell, although he didn't specify which stocks he liked in a recent interview. The analyst and onetime writer of technical articles for Barron's, who called the bottom of the '74 bear market, explains that "the U.S. is inflating its head off and depreciating the dollar's head off."
from barrons yesterday