” Gold–The One Less Traveled By”
When I was in sixth grade, we had a substitute teacher for our English class one day who spent the entire lesson analyzing Robert Frost’s poem “The Road Not Taken” which he wrote in 1915-1916. This is the final stanza in the poem, which you may have memorized in school:
I shall be telling this with a sigh
Somewhere ages and ages hence:
Two roads diverged in a wood, and I—
I took the one less traveled by,
And that has made all the difference.
The reason this applies to the financial markets, other than the obvious contrarian implications, is that whichever road is least taken is almost always the most profitable. If you’re not sure what any particular asset will do during the next several months, then ask yourself which path would reward the fewest investors. That will be the path which is likely to be “trodden black,” to take a phrase from another part of the above poem.
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