Short war story. In early 1980, attending a business conference in LA, I got on the elevator with a guy named Howard Ruff (anyone remember him?). "hey, I read your book", I said. he told me about a conference that he was having downstairs in one of the big ballrooms. My meeting didn't start until 1 p.m., so I stepped into the big ball room about 10 a.m., Saturday morning. There had to be over a thousand people in that room (investors). On the stage was Howard's Ruff, Jim Dines and three or four others. They were pushing gold Investments... Fast forward to Monday morning... Called my Merrill Lynch broker and purchased 200 contracts of ASA out-of-the-money call options (three months out) at an average price of about 2 bucks a share (stupid risk, right?), I was only 38 years old at the time, and stupid. I sold the options at about 29 1/4. You do the math. Of course, I felt invincible at the time and got talked into buying gold and silver futures. The very next day, after I bought the Futures, gold went limit down three days in a row (25 bucks at that time).
ASA Gold and Precious Metals L NYSE $ASA Correlation Histogram
X axis : Stocks Price Correlation Coefficient Y axis : Quantity of stocks May-2016 1,000 Day Parameter 4,338 NYSE Stocks Price Analysis This stock mode of correlation coefficient is -0.8 In other words, the correlation coefficient of the other stocks
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