Media coverage of gold ETFs from 2014 to 2018 was overwhelmingly negative, comparable to recent bitcoin sentiment, with headlines dismissing the asset as ineffective and disappointing. Despite this pessimism, gold ETFs had already outperformed the S&P 500 by 10x since their 2004 launch and subsequently surged 250% over the next seven years, significantly beating bull-market performance benchmarks. The episode highlights a broader challenge for investors in assets without cash flows, where sentiment often drives short-term perception contrary to long-term fundamentals. These assets frequently face intense media criticism and skepticism from traditional investment authorities, even after substantial historical gains, making them psychologically difficult to hold through downturns.