Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

Macro Turning in Favor of Gold

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Excerpt from NFTRH 804 on the macro turn in favor of the anti-bubble, gold


NFTRH is a top-down macro entity. It is not a stock pick rag, a technical analysis junkie, a market psychologist or a monetary/fiscal policy obsessive. It is all of those things, as needed. But primarily what we do is define the macro and then continually update the definition because it is always progressing, shifting, cycling and changing. From that work we then try to take it from ‘top-down’ definition and apply it to investment strategies.

I sometimes bristle at the hype that emanates from the precious metals sphere coming in the form of gold bug doctrine, perma-cheerleading, lecturing and rigid thinking. That is because like it or not, the macro is always shifting and doctrine or not, the macro shifted away from the precious metals in 2012 and only began recovering a gold-positive view in 2018. Since then, it’s been a volatile process with incomplete macro fundamentals.