Last month, I happened to visit New York’s Tutankhamun exhibition, to chair a dinner conference on gold exchange-traded funds (ETFs). It felt like attending a church revival meeting. As I faced a crowd of well-dressed financial advisers from premier Wall Street banks, there were cheers and rapt applause. There were even a few angry, wine-fuelled heckles when I dared to ask if gold was in a bubble. This was not your normal investment event. Not once did anyone mention the Capital Asset Allocation Model, or any other technical areas of investment expertise.
上月，我在纽约参观图坦卡蒙(Tutankhamun)展时，主持了一次以“黄金交易所交易基金”（黄金EFT）为主题的晚餐会。我感觉像是参加了一次教堂的培灵会。当我面对来自华尔街顶尖银行的衣履光鲜的理财顾问们时，人群中爆发出了欢呼声和热烈的掌声。当我斗胆问出黄金是否处于泡沫之中时，还有些人借着酒意发出愤怒的起哄声。这不是你平常参加的那种投资会议。人们绝口不提资本资产配置模型(CAAM)，也不提及其它任何一个投资专业技术领域。