A portfolio update for September.
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The current economic environment warrants lower-than-normal valuations in the stock market. But instead, bull market sentiment is as euphoric as ever, and valuations have ramped up to near all-time highs just as the earnings stream that supports the market has collapsed. With so many insolvent companies in many sectors, the corporate default rate will remain very high in the months ahead. This bodes well for gold and gold mining stocks. For now, Dan gives guidance on all our open positions in the portfolio, including one recent position moving from a buy to a hold.
