Republican presidential candidate Rep. Ron Paul marches to his own drummer in politics – and in his investment portfolio, too.Then they put this in which has nothing, zero to do with Ron Paul:
Here at Total Return, we’ve looked at hundreds of the annual financial-disclosure forms in which the members of Congress reveal their assets and trades – and we’ve never seen a more unorthodox portfolio than Ron Paul’s.
(In fact, The Wall Street Journal revealed problematic trading in Congress more than a year and a half before the “60 Minutes” episode that recently raised a ruckus over the same topic, but that’s another matter.)Here's more from WSJ on Dr. Paul's "extremism":
But Ron Paul’s portfolio isn’t merely different. It’s shockingly different...Then we get this idiotic comment which clues you in the the article is a total hit job:
Rep. Paul appears to be a strict buy-and-hold investor who rarely trades; he has held many of his mining stocks since at least 2002. But, as gold and silver prices have fallen sharply since September, precious-metals equities have also taken a pounding, with many dropping 20% or more. That exposes the risk in making a big bet on one narrow sector.Could a WSJ writer possibly be clueless to the fact that, even with this pullback in the gold price, gold has more than quadrupled since 2002! Is there any mention of this and how successful an investor Dr. Paul is? No. The only thing that is mentioned is the recent pullback, of which there have been many through out the years.
Here's more of the absurd hit on Dr. Paul, from WSJ:
At our request, William Bernstein, an investment manager at Efficient Portfolio Advisors in Eastford, Conn., reviewed Rep. Paul’s portfolio as set out in the annual disclosure statement. Mr. Bernstein says he has never seen such an extreme bet on economic catastrophe. ”This portfolio is a half-step away from a cellar-full of canned goods and nine-millimeter rounds,” he says.The signal is clearly out to get Ron Paul, if the WSJ runs an absurd article like this on probably the most successful investor in Congress.
There are many possible doomsday scenarios for the U.S. economy and financial markets, explains Mr. Bernstein, and Rep. Paul’s portfolio protects against only one of them: unexpected inflation accompanied by a collapse in the value of the dollar. If deflation (to name one other possibility) occurs instead, “this portfolio is at great risk” because of its lack of bonds and high exposure to gold.
Note: Although Bernstein's firm appears to be Efficient Frontier Advisors, WSJ appears to incorrectly identify the firm as Efficient Portfolio Advisors.