As they say, a picture is worth a thousand words. Thus, today’s post is mostly visual. Many markets have had a nice run over the last several years. In fact, they are approaching levels that, in the past, have signaled they may be getting overvalued. The first chart is that …

One negative by-product of a global economy is that cheap knockoffs can rise up in nearly any market, and can harm both the brand and reputation of the original product. In some respects, this is what has happened with the creation of gold (and silver) Exchange Traded Funds (ETFs). From …