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，我在紐約參觀圖坦卡蒙(Tutankhamun)展時，主持了一次以“黃金交易所交易基金”（黃金EFT）為主題的晚餐會。我感覺像是參加了一次教堂的培靈會。當我面對來自華爾街頂尖銀行的衣履光鮮的理財顧問們時，人群中爆發出了歡呼聲和熱烈的掌聲。當我斗膽問出黃金是否處于泡沫之中時，還有些人借著酒意發出憤怒的起哄聲。這不是你平常參加的那種投資會議。人們絕口不提資本資產配置模型(CAAM)，也不提及其它任何一個投資專業技術領域。