Your Pension-Pot Warranty

"The decision to raise the gold allocation [doubling it in October 2009, while selling off the fund's 17% position in equities] was made in the expectation that the stock market's rise would not be sustainable and a considerable downward correction was likely to follow."

Imagine once the stock market correction finally arrives -- these guys have already done better by holding "too much" gold; going back to equities has yet to burn them. But it will.