, Columnist
Gold’s ‘Semi-Rational’ Run Gives Wall Street Vertigo
Fund managers are missing out on the gold rally.
Photographer: Matt Jelonek/BloombergWall Street has finally capitulated to gold’s record-breaking run.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon’s reluctant endorsement was the inflection point. “This is one of the few times in my life it’s semi-rational to have some in your portfolio,” said Dimon, adding that he was not a buyer, because “it costs 4% to own it,” referring what he could have earned in money markets instead.