And even more fortunes have been lost by people held on too long. Just because you believe a thing does not make it so, and you have placed yourself in the position of having to be right. If you are not right, you cannot make money. You have no way of reversing your position if you are wrong.
Soros and Paulson are indeed invested in gold. So am I. But we don't own gold.
You do not have a clue what my basis is. I iherited a nice size collection of gold and silver coins. So how could I lose money if I did not pay a nickel for his collection.
If you do not want to invest in physical gold that is fine with me but your bullshit about losing money is getting old. You can lose money in any investment. I don't think I am going to make a killing in the coins that I purchased in the last two years, I know it. Further more, I don't short anything. Tell you what, I will put up my gains against yours in the last two years, Palladium ETF 120%, silver 120%, gold 55%.
Here is the thing you DO NOT UNDERSTAND. I collect coins for the beauty of them, as a hobby, as a hedge/investment and I don't care if the metal market dips. I will just buy more if there is a 20 or 30% correction.
I hope it does go to fifty bucks. My purpose in posting in this thread is to discourage some young investor from using poor strategy, that's all.I bought most of mine when it was around $16 per ounce. Hope the pundits are correct in their prediction that it will go up to fifty bucks this year.
You seemed to be stuck on losing money. Sure, you can lose money in any type of investment including metals. Buffett's fund (BRK-A) lost half of it's value several years ago. It went from $150k to $80k and is now at $127k. If you bought at the top and panicked when it went down, you lost your ass. Every investor has bought stocks that were lemons. The trick is to buy more winners than losers. Buffett has done that but his purchases of late have not been too hot such as him buying at the top for GE. Chasing performance is not a good strategy. Silver is too high to purchase at this time. Wait for a pull back of 10% or more and buy. FYI, I can see and feel my gold and silver. What you have is paper or a promise that so much of that material is in that fund which may or may not be accurate.
New investors should educate themselves. That's what I did and it is not that difficult. If you are too lazy or don't have the time, your chances of making money will be diminished. Also, if you are worried about losing money, don't invest cause you will surely dump the stock when it goes down in all probability at a loss.
Also, I noticed that you mention Soros alot in your posts... You do realize that he's a total insider, right? He talks down the Euro while shorting the Euro and going long on other currencies... He talks down the pound while shorting the pound and going long on other currencies. He talks down the dollar while shorting the dollar and going long on other currencies. Ring around the rosies...
He's a total piece of shit.
The great news about silver is that it went up 22.5% in the first quarter (Jan-March) of this year. Woo Hoo
|« Previous Thread | Next Thread »|