Where are the "All In Gold" investors?
It seems like every day brings a new person, be they CAPS players, financial "journalist," or investor, who talks about the inevitable runup in the price of gold to ($2000, $5000, $infinity). The articles and blogs go on and on about how you are (lowercase) foolish to not have a portion of your portfolio in gold. I've seen recommendations that you should have between 10 and 20 percent of your net worth in gold.
If people are so sure about this, where are the "all in" gold investors? I haven't seen too many people say "my portfolio is 90% gold." Diversification is fine if you're a passive index investor with no interest in learning about security analysis, but the gold investment community seems to have spent a lot of time thinking about this and yet I'm not seeing the kind of surity that I'm seeing among stock investors. No one ever got wealthy because of something that happened to 10% of their portfolio.
This isn't a challenge, and this isn't a knock on the gold investors. They seem to be pretty sure of what they're talking about, but my suspicion is that their commitment to their thesis isn't what I would expect from people who are advocating buying a gold when its price is at or near an all-time high.
Are there any "all in gold" people with a focused portfolio of gold? Even Jim Rogers isn't, to my knowledge. What about Marc Faber?