Gold's relative strength versus equity indices during the 2000-2002 NASDAQ bear market (when equities fell 50%) acted as a signal that gold was entering a new bull market, despite absolute volatility and monthly drawdowns of 12% in 2003; this relative momentum was the key insight driving Henry's accumulation.
causalpending
Speaker
Hugh HenryEvidence Quote
“Gold did nothing but on a relative basis it broke out. it went, "Hey, I'm I'm over here. I'm feeling I'm feeling better." And I was always attuned uh you know to the cosmic wavelength of uh relative asset performance.”
Source
Once In A Lifetime Opportunities in Precious Metals, Japan, And AI w/Hugh Hendry— Rebel Capitalist InterviewsCreated: 8/13/2026, 9:56:54 AM
My Notes
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