To taper or not to taper, that is the question. So far, the Federal Reserve’s constant talk and threats of an impending taper have performed the job better than actually doing anything. Stocks are flat, gold is down, as are bonds. But markets are beginning to grow weary of the constant threats with no action. When the Fed actually starts to taper, we may see markets turn; for gold, it may signal a bottom, as it has before. (See discussion below.) It was a poor quarter in most major markets and assets, and our accounts did poorly too. But we believe we are well positioned, avoiding most of the greatest risk in the broad market, while very well positioned for a turn in gold. Finish reading here: Portfolio Review 2021 3Q