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m22au
Registered: Mar 2002
Posts: 3138 |
09-12-12 07:20 AM
Quote from oldtime:
as for goldbugs, my definition is someone who only buys and never sells they will ride it up and they will ride it right back down, they don't want a dollar at any price
OK, but the same complaint about "goldbugs" could be made about Zimbabwe citizens in recent years who held their gold and didn't want a Zimbabwe dollar at any price. It turned out that holding their gold and not selling was the right choice to make.
What about paperbugs who don't want a store of value such as gold (or similar alternative) at any price?
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oldtime
Registered: Jun 2011
Posts: 7479 |
09-12-12 02:49 PM
Quote from m22au:
OK, but the same complaint about "goldbugs" could be made about Zimbabwe citizens in recent years who held their gold and didn't want a Zimbabwe dollar at any price. It turned out that holding their gold and not selling was the right choice to make.
What about paperbugs who don't want a store of value such as gold (or similar alternative) at any price?
I'll meet you 10 or 20% of the way, which is what Rickards reccommends every stock investor keep in gold in his portfolio
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m22au
Registered: Mar 2002
Posts: 3138 |
09-13-12 06:33 PM
Quote from oldtime:
I'll meet you 10 or 20% of the way, which is what Rickards reccommends every stock investor keep in gold in his portfolio
Today's post FOMC action is the type of thing I am talking about.
With the Fed taking increasingly extreme steps, I think paperbugs' obsession with paper money is irrational.
With regards to gold outperformance versus the S&P 500, if and when oil continues to rise (October brent over $117 earlier today), this will start to hurt the margins of many companies, starting with the transports, and in particular, the airlines:
http://www.elitetrader.com/vb/showt...&postid=3066125
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oldtime
Registered: Jun 2011
Posts: 7479 |
09-26-12 10:19 PM
bought some gold today. Much to the chagrin of all you goldbugs who need to hold it and hoard it, and someday it's just you and your gold and your guns, for me it is just a hedge against the dollar so GLD is my preferred vehicle.
Sold all of it a few days ago at what was the recent high. Then got to thinking. This time it is a little more than 10% the stock portfolio. That is good enough for me. The days of holding stocks may soon be coming to an end.
Not really worried this time about getting a good price, I can ride it down. I wasn't making anything in the money market anyway. But I've been at this long enough to know that there always comes a time when you wish you just had money sitting in a money market making nothing.
I like Rickards idea of keeping 10 to 20% of your stock portfoloio in gold. So that is what I did. Not sure about this price, but over time I think it will even out. Really, it wouldn't surprise me if gold goes back to $35 an ounce where it started, or up to $2500 where everybody says it is going.
Like the man said, it's just a matter of adjusting the S&P to gold.
In otherwords, if it gets to be less than 10% I will probably buy some more, if it gets over 20% I will be a seller.
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Jander
Registered: Sep 2006
Posts: 495 |
09-26-12 11:04 PM
You swimmers are a bunch of morons, with your need to be in the water all the god damn time never wanting to get out!
I took a nice dip today then hopped out and it was so refreshing. You fools are going to be old pruny wrinkly bastards one day
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oldtime
Registered: Jun 2011
Posts: 7479 |
09-26-12 11:24 PM
Quote from Jander:
You swimmers are a bunch of morons, with your need to be in the water all the god damn time never wanting to get out!
I took a nice dip today then hopped out and it was so refreshing. You fools are going to be old pruny wrinkly bastards one day
yeah, I'm almost always in one way or the other in one thing or the other. Very rarely flat. As a matter of fact, when you consider it all, the last time I was flat was when I was in high school with nothing but a checking account.
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