Going long gold and shorting stocks. Josh Brown called it, aptly, the “End Of The World Trade” since that basically represents a belief that rocks are going to be more valuable, over time, than enterprises creating value.
Of course that trade has been getting crushed.
Gold has had a horrendous year and stocks remain near all-time highs.
And today it is a complete wreck.
Gold is down over 4%, while stocks are up over 1%.
As such, the end of the world trade is getting totally annihilated today.
Here’s a look over the last year.
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