Confusing a Clear Vision With a Short Distance
by Charles de Vaulx
There's a saying that you should not confuse a clear vision with a short distance. We're willing to own gold even though it may not act as a hedge in the near future, because we have a fairly clear vision about what will happen to inflation three, four or five years out, and it's not a pretty sight.
Source: http://www.valueinvestorinsight.com/