"Over the past decade or so, you have seen the flip side of that as you've seen stock prices have come down a lot relative to gold. Now you are getting a change where people are more comfortable holding gold because in the rear-view mirror it doesn't look so bad for gold. Bonds have not come down as much relative to gold, but I think the bond bubble is going to burst and will be falling for years too. And gold will look that much better."

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I do think we're in a little bit of a bubble and I think you saw it this year primarily in the fact that everyone was surprised by Donald Trump's success. He was saying things and he was tapping into feelings and resentments in the electorate that the media was almost completely blindsided by. And that suggests we are not spending enough time talking to people out there who are living the lives and feeling the problems that led them to Donald Trump.

— Frank Bruni