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Message
Just dumped some cash and bought gold, good or bad?
Posted on 8/15/14 at 12:49 pm
Posted on 8/15/14 at 12:49 pm
Almost pulled the trigger in 07 but was still drinking the Wall Street Casino Kool-Aid, you know when they told the public "don't panic and pull your money from equities", well if I would have bought in 07 when it was between 600-800 per oz would have made a nice gain on 50k, I know the market appears to have recovered but I hear the proverbial fan running and I smell sh!t to the tune of +100 trillion dollars in unfunded liabilities, labor participation rate of around 62.5% (when 66-67 is a good #), amnesty around the corner, how can we have such a low labor rate participation level and think if we add several million people to the labor market it's going to get the other dead beats off their azzes and off government money? Anyway just giving some insight as to why I made the decision, oh and the gold I bought was not bullion but gold coins that can not be confiscated, still considered legal tender.
Another reason I bought was the market has gone up despite the low volume in trading and the rise of the market is almost linear with TARP and "quantitative easing" in other words funny money............yeah I hear the fan running on high.
Another reason I bought was the market has gone up despite the low volume in trading and the rise of the market is almost linear with TARP and "quantitative easing" in other words funny money............yeah I hear the fan running on high.
7
Posted on 8/15/14 at 12:58 pm to JoeMoTiger
It's going one of three ways..
Posted on 8/15/14 at 1:00 pm to JoeMoTiger
A percentage of gold in ones portfolio is never a bad thing. What exact percentage is open to interpretation and personal preference.
I hold more silver than gold personally.
I'm told precious metals are foolish, but when I look at various time period charts for silver versus the S&P I don't understand this. Especially when the S&P is properly adjusted to reflect actual returns.
In any event my personal preference is a larger percentage of silver than most recommend, but I don't see a lot of serious portfolio advisors indicating to not hold any precious metals.
I hold more silver than gold personally.
I'm told precious metals are foolish, but when I look at various time period charts for silver versus the S&P I don't understand this. Especially when the S&P is properly adjusted to reflect actual returns.
In any event my personal preference is a larger percentage of silver than most recommend, but I don't see a lot of serious portfolio advisors indicating to not hold any precious metals.
Posted on 8/15/14 at 1:19 pm to JoeMoTiger
In my opinion if you're planning on holding it long term its a great move.
Posted on 8/15/14 at 1:34 pm to JoeMoTiger
You should diversify into a wide portfolio of shite that doesn't create any value and is priced way above its commercially feasible value.
I think it's a good move.
I think it's a good move.
Posted on 8/15/14 at 1:45 pm to TheHiddenFlask
Posted on 8/15/14 at 2:01 pm to TheHiddenFlask
quote:Do I detect a tiny bit of sarcasm?
You should diversify into a wide portfolio of shite that doesn't create any value and is priced way above its commercially feasible value.
I think it's a good move.
Posted on 8/15/14 at 2:23 pm to LSURussian
No. It's probably also a good idea to get into several investments that have interest rate sensitivity at historically low interest rates.
So long as you DIVERSIFY!!!!!
So long as you DIVERSIFY!!!!!
Posted on 8/15/14 at 3:27 pm to Iowa Golfer
quote:
I'm told precious metals are foolish, but when I look at various time period charts for silver versus the S&P I don't understand this.
Well you have to consider who's telling you that you're foolish, if it's some dude that can get a fee for managing your equities portfolio he's not gonna get much action on precious metals so other than the commission on the sale there's not recurring money to be made. It really pays to shop around too, some companies charge sales commissions of 50-100% mark up on some gold bullion coins and such.
Posted on 8/15/14 at 3:34 pm to TheHiddenFlask
quote:
You should diversify into a wide portfolio of shite that doesn't create any value and is priced way above its commercially feasible value. I think it's a good move.
Just read your post, I guess I should have thrown my money back to Wall Street and prepared my anus for the next big flush, or kept my cash which may eventually reach it's intrinsic value of $0.00, after all what is fiat money based on other than faith in the banking system which has proven to be as corrupt as the day is long.
Posted on 8/15/14 at 3:53 pm to JoeMoTiger
Would have been better with silver if you had gone that route.
You can argue that gold is overpriced whereas silver is under priced.
You can argue that gold is overpriced whereas silver is under priced.
Posted on 8/15/14 at 4:59 pm to Volvagia
There's some really funny shite in here. Someplace in the middle of those that think no precious metals in a portfolio is the answer (and there are few serious people that believe this) and those that think the dollar and equities are 100% fraudulent (and there are few serious people that believe this) is the answer.
And time will tell who is the more correct. Or the more correct for whatever particular situation we are in at whatever particular moment in time we are in.
And time will tell who is the more correct. Or the more correct for whatever particular situation we are in at whatever particular moment in time we are in.
Posted on 8/15/14 at 6:54 pm to JoeMoTiger
JoeMo
In my opinion metals are still priced a bit high and take somewhat of a beating historically as interest rates rise. That being said having a portion of your portfolio in metals aint a bad idea as the government is trying to devalue the dollar and metals can be somewhat of a hedge. I am not as sophisticated as some on this board but buy a few bars of silver monthly and gold coins on occasion. It is nice to invest in somthing tangible you can hold in your hand.
In my opinion metals are still priced a bit high and take somewhat of a beating historically as interest rates rise. That being said having a portion of your portfolio in metals aint a bad idea as the government is trying to devalue the dollar and metals can be somewhat of a hedge. I am not as sophisticated as some on this board but buy a few bars of silver monthly and gold coins on occasion. It is nice to invest in somthing tangible you can hold in your hand.
Posted on 8/15/14 at 10:37 pm to JoeMoTiger
Glad to see you were just seeking self affirmation.
I never said you should go into equities, but keep making yourself feel good with that post.
In the meantime,tell us the next time you go into a place that accepts gold and not dollars.
Additionally, explain to me how you weren't valuing gold in dollars.
Then go frick yourself.
Then enjoy poverty.
Go back to whatever shite board you came from.
If you want intelligent advice, come back.
I never said you should go into equities, but keep making yourself feel good with that post.
In the meantime,tell us the next time you go into a place that accepts gold and not dollars.
Additionally, explain to me how you weren't valuing gold in dollars.
Then go frick yourself.
Then enjoy poverty.
Go back to whatever shite board you came from.
If you want intelligent advice, come back.
This post was edited on 8/16/14 at 4:36 am
Posted on 8/15/14 at 10:49 pm to TheHiddenFlask
Yup. Lots of laffy in here.
Posted on 8/15/14 at 10:52 pm to TheHiddenFlask
Dude why so angry? It's not like it was your money. By the way let us know next time you go some place that accepts a screenshot of your stock portfolio instead of dollars WTF?
Posted on 8/15/14 at 10:55 pm to cave canem
Laffy Taffy.
Posted on 8/15/14 at 11:01 pm to Iowa Golfer
I recon your right, laffy taffy it is
Posted on 8/15/14 at 11:02 pm to Iowa Golfer
double post
This post was edited on 8/15/14 at 11:03 pm
Posted on 8/15/14 at 11:55 pm to TheHiddenFlask
Damn son you's angry! 
This post was edited on 8/16/14 at 12:19 am
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