Putting everything into gold is stupid. So is putting nothing into gold. The gold part of my portfolio has done well. And it does well when the market goes down.
Faber is actually somewhat bullish on stocks. He thinks they will do well in an inflationary environment. I also read Bill Gross has sold all his bond holdings.....and he is supposed to be one of the bigwigs in that market.
then this whole imminent collapse should work out fine for you, because you will have gold. nice work. i have friends that got out of the housing market before the crash, they are smart, like you.
I don't have to be smart....all I have to do is bet against Bernanke. Remember when he said that the subprime problem was contained?
The stock market has always made money. Through depressions and recessions and boom and bust, those that invest for the long haul in the stock market have always made a profit. We must believe that this will continue or we should bury our money in the back yard. Stocks, bonds, and funds will always make a long-term profit, but it has sharp peaks and valleys and the timing of a downdip can be bad sometimes. So we keep a portion of our wealth in non-market investments like gold and precious metals, real estate, rental property, or a small business. These investments don't track with the stock market and often hold steady or grow when the market is down. Likewise, when the market is up, losses and credits with rental properties and small businesses can cut the tax bill when the market is making you money. Some money in annuities gives you low-risk guaranteed retirement income so you fell more confident in owning profitable but more risky growth funds. Keeping your money well diversified and in the game is smart and you will steadily and slowly get rich. Trying to time the market is stupid and putting all your eggs in one investment will get you rich quick 1% of the time and keep you poor and chasing last years profits 99% of the time.
Did your people notice that gold is up $35 today? Or that silver and gold are the truth tellers to Bernanke's b.s.? Bernanke is a dove and everybody knows it.
That's a damn good point. The record high has been reached but when you adjusted for inflation silver has a long way to go. Would you bet that silver has topped out at this level or is going higher? I assume it's going to at least $80 by the end of the year.
I have no idea where it is going. It might double in the next year. I don't buy precious metals as investments because they have horrible track records. Commodities are for speculators.
