Aggregated Awareness

From Michael Cembalest of JP Morgan via Paul Kedrosky's blog via Tyler Durden of the Zerohedge.com blog, comes this informative little tidbit regarding investor ownership of gold as a percentage of assets.

During the last bull run in gold back in the early 1980's, investible gold as a percentage of global financial assets was in the 17% range. During the current bull run, and taking numbers from the end of 2009, investible gold as a percentage of global financial assets is around 4%.

This clearly indicates that we have some ways to go in the current bull run before one could confidently call gold, an asset that is over-invested.

Excerpt: "...ownership of gold in dilutable terms (aka dollars), as a portion of global financial assets has declined from17% in 1982 to just 4% in 2009. And even thought the price of gold has double in the time period, as has the amount of investible gold, the massive expansion in all other dollar-denominated assets has drowned out the true worth of gold..."

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