Accoding to Munger

Discussion in 'Metal Futures' started by HomelyWizzard, May 8, 2012.

  1. Warren Buffett's right hand man, gold is for Jews (preferrably sawn into their garments....
    What about silver I'd like to ask him.....
     
  2. If you know the periodic symbol for Nobelium, Vanadium, Silver, Iodine and Sodium, you get....

    No VAgINa
     
  3. Magna

    Magna Administrator

    Actually that's not what he said, I saw the interview. Here's an exact quote:

    "Gold is a great thing to sew onto your garments if you're a Jewish family in Vienna in 1939 but civilized people don't buy gold - they invest in productive businesses."
     
  4. But apparently civilized central bankers enjoy printing trillions of dollars.
     
  5. =============
    I like what Mr Buffet said on investments;
    ''never invest in anything you do not want to study a lot'' [Paraphrase]
    Dave ''FOX'' Ramsey doesnt like gold for long term investments;
    he prefers diversified mutual fiunds.........................

    I never thought much about sewing gold into my clothes;
    but i do like a gold plated trigger/Browning A5,12 guage shotgun[But i traded that to fed liscensed gun dealer for US$]

    :D :D
     
  6. Chuck is just pissed he did not buy any at 300.00

    he also missed the last run up to 900.00 when tricky dick unpegged it at 35.00.

    then emptied fort knox and sold it all down the river to the euro trash.

    s



    :cool:
     
  7. ============
    Home wise;
    Actually Warren Buffet is buying silver !!-
    some penny stock silver mine ad saying that was mailed to me.[About the time silver was almost parabolic stop & reverse @$45 area, last year.LOL:D :D ]

    Some are bying silver ,SLV a bit;
    no wonder, its getting near 12 month lows,
    it crossed above 50 period moving average @ $30 area,$30.33
    50 period moving average[, 58 minute candles,60 minute candles.].$29.37 area.........................

    It can go lower, but as Rich ''turtle ''Dennis said ''do your own research''. Hope this helps
    ============================================

    Speaking of wisdom ;
    the buy volume @ these levels is not near as good as it was when going UP in 2011[daily or weekly ].Word to the wise.:cool:
     
  8. SMI

    SMI ET Sponsor

    Yeah, I'm suspicious of buying silver here - not only because of volume but because it broke from a wedge like formation recently. Of course, the darn thing is a in a wicked, wicked broader range but as long as it stays below the lower trendline of this "wedge", I'm more likely to give the downside the benefit of the doubt, targeting a test of the Dec 2011 lows. As it is, it broke down and retested the breakdown point twice over the last two days so on a purely technical basis, I think the trend is lower.

    <img src=http://content.screencast.com/users/StructuredMarketsInc/folders/SMI_Education_LiveChat/media/7efd9dcc-8709-43db-b7ba-d3846e9a1bf1/05.10.2012-18.10.44.png>

    Any bounce back into the wedge negates the technical picture for me and would simply put me back onto the sidelines waiting for a break of the much much larger triangle...

    <img src=http://content.screencast.com/users/StructuredMarketsInc/folders/SMI_Education_LiveChat/media/c4ae93d6-3717-4fe7-ac49-4b1955bd679f/05.10.2012-18.19.22.png>