GOLD. Invest?

[Mill]

Originally posted by: Vic
Sigh... the masses never learn do they? Gold is already up. You missed it. By the time a stock or commodity becomes "HOT" you have already missed the good buy opportunity and the crash is coming.

Actually I would have bought several months ago and I posted on AT about it but there were no replies. I didn't have the funds to purchase so I missed out.

 

[SuperTool]

Changing all my teeth to gold. For rainy day 😉
Would that be tax deductible, BTW. If I buy a bunch of gold teeth, can I deduct this as some sort of medical expense?

 

[Vic]

Originally posted by: DaveSimmons

Originally posted by: Vic
Sigh... the masses never learn do they? Gold is already up. You missed it. By the time a stock or commodity becomes "HOT" you have already missed the good buy opportunity and the crash is coming.

Exactly, everyone is selling stocks and buying real estate, bonds, gold, etc. now that it is too late to make any money from them.

Meanwhile it's a good time to buy stocks for a long-term investment, but most people are going to wait to buy until after the market recovers and prices jump up again.

"buy high, sell low" is not a good investment strategy! 🙂

Heh. But it's a common one. 😛
I should have kept quiet. After all, someone has to buy at the top. 😉

My favorite story on this (possible Urban Legend) is that Henry Ford supposedly didn't lose any money in the 1929 crash. Apparently, he had sold out of stocks (Ford Motors itself didn't go public until ~1948 IIRC) earlier in the year. Supposedly, when asked about his foresight, he said that when shoe-shine boys starting giving him hot stock tips, he knew it was time to sell.

 

[blakeatwork]

by the time a stock "tip" gets to ATOT, it's already been picked over by those with foresight to get in on it 3-6 months prior...

 

[Rudee]

I'm a contrarian investor. I buy on dips when investor confidence is down and people are selling in high volume. I sell on high volume when news is good. Companies who have taken the biggest falls (Nortel Networks, for example) have made me lots of money when they spiked up again from rock bottom, where I bought in at at literally pennies a share.

Smart investors keep a reserve of cash in this bear market to take advantage of buying opportunities.

 

[HomeBrewerDude]

Originally posted by: rgwalt
Crazy dutch bastard...

😀

Seriously though, I don't think that gold is a wise investment at this point. I think the value of gold is getting close to hitting a maximum. You could always buy high and sell low... you know, to take them by surprise.

Ryan

i thought he was from Belgium

😀

 

[Blain]

Can you buy gold without taking delivery or paying storage? I think it's basically buying a type of gold IOU.

Same question, but about silver?

Bullion coins seem to be about the best way, if you want to hold the actual metal.
* Canadian Maple Leafs are 99.99% pure, while American Eagles and S. African Krugerrands aren't.

 

[Kenazo]

If you find yourselves all a good comodities broker, and have a pretty decent margin account you could always short gold. However, if it goes up, they'll make you sell to cover your margin, which means you could be losing huge. But b/c it's margin you stand to make a lot of coin. Rembmer though with Commodities/futures you are buying or selling contracts good for a specific date, so if you don't sell in time, you gotta pony up a lot of the shiny.