The Financial Research Corporation released a study prior to the (2001-02) bear market which showed that the average mutual fund’s three-year return was 10.92%, while the average investor in those same periods gained only 8.7%.

Just when I thought the worst was behind us, it wasn’t. The selling started about 3:00 a.m. New York time on the Globex. I’m not sure why this particular time is sometimes their favourite time for selling off the precious metals, but it has been in the past.