View Full Version : Peak Gold?
Is it over?
I personally sold most of my "investment" stash of it on the bounce on the 25th.
I figured it would make it to 1100 at least, but it didn't. Oh well... I did just fine though, as most of my gold was bought in the $650ish range.
So, what are your opinions and why?
I say gold is on it's way down now... I was wrong about the peak, but gold doesn't drop like this and recover very fast. The last drop of a similar nature was around April - May of 06 and it stagnated (sat around $650) for about a year.
I figure it may make it down to $750 range within the next 60 days.
Then again, I could be wrong on the bottom price too... :) Just my opinion. Do with it as you will.
Source : Gold (http://www.kitco.com/charts/popup/au0030lnb.html)
MianoSM
04-02-2008, 02:39 PM
If more foreign markets continue to drop this debt from bunk sub-prime loans, the price of gold should drop like an anchor I would think.
Consumer confidence will rise, the dollar will climb back through the summer, and oil prices will stay at or just above where they are now (summer time always means more driving happening).
If gold appreciates in the next six months I'd be really surprised, unless of course the foreign markets hold steady on the money that is owed to them.
fencerider2
04-02-2008, 03:13 PM
Gold has never risen in a true deflationary environment.
Can I say " I told you so "
Gold has never risen in a true deflationary environment.
Can I say " I told you so "
Yes you can. :roll:
Oh well, I wish I could have sold at $1100/oz... :lol:
I'll take my profit and not bitch to much.
BTW, When you gonna trade in that jam prone POS AR-15 and buy a real (Kalashnikov) assault rifle? :P
The closest to gold I've gotten is funds that are heavily invested in gold. So far so good on them. I think I'll ride that wave a little bit longer.
BTW, guys, I know you all talk shit about financial advisors, but they really do kick ass when they don't charge you any fees at all (until you amass 30k more and enter into the fee brackets). They take all the stress out of monitoring your portfolio and are exposed to more data concerning your portfolio than you could ever hope to be unless you're in the markets. In my book, thats a win.
Newguy07
04-02-2008, 04:30 PM
The closest to gold I've gotten is funds that are heavily invested in gold. So far so good on them. I think I'll ride that wave a little bit longer.
BTW, guys, I know you all talk shit about financial advisors, but they really do kick ass when they don't charge you any fees at all (until you amass 30k more and enter into the fee brackets). They take all the stress out of monitoring your portfolio and are exposed to more data concerning your portfolio than you could ever hope to be unless you're in the markets. In my book, thats a win.
how is managing your portfolio stress? I love and enjoy doing it...
Also, I would never invest in gold personally.
how is managing your portfolio stress? I love and enjoy doing it...
Also, I would never invest in gold personally.
When you have as much crap to deal with in your life as I do, managing a portfolio and takign the time to research everything effectively yourself is almost impossible. Now, I can read a prospectus every so often, read up on a few current events, trust my financial advisor, and pretty much maintain well-balanced, up-to-date portfolio with minimal work.
Also, I would never invest in gold personally.
As a sole investment, correct.
I invested a decent sum and I am glad I did. :)
I will do it again too. When I think the "bottom" has taken place.
Newguy07
04-02-2008, 04:54 PM
As a sole investment, correct.
I invested a decent sum and I am glad I did. :)
I will do it again too. When I think the "bottom" has taken place.
good luck..
Serbonze
04-02-2008, 05:11 PM
how is managing your portfolio stress? I love and enjoy doing it...
Also, I would never invest in gold personally.
It can be very stressful if you are truly managing a portfolio; researching companies/funds, allocating per your objective, managing your risk, etc.
I mean no disrespect here, but if you really only own what you posted last month then no, you probably don't have much stress in managing the portfolio.
What does everybody have out there?
FFFGX 479 shares ------ $4,806.22
WFC 100 shares ------ $2865
KFT 140 shares ------ $4190
GSK 80 shares ------ $3240
and I have $13,000 maturing on 4/04/08 and I am going to be fully invested in the market
Newguy07
04-02-2008, 05:20 PM
It can be very stressful if you are truly managing a portfolio; researching companies/funds, allocating per your objective, managing your risk, etc.
I mean no disrespect here, but if you really only own what you posted last month then no, you probably don't have much stress in managing the portfolio.
well for a 22 year old to have 30k in investable money that is pretty good. I have done well investing the past couple of years or so..
Newguy07
04-02-2008, 05:21 PM
Also, I don't find it stressful at all. I keep my emotions out of the game and make smart decisions. It has paid off so far.
Serbonze
04-02-2008, 06:10 PM
well for a 22 year old to have 30k in investable money that is pretty good. I have done well investing the past couple of years or so..
Your age is irrelevant unless you are stating that because you are fishing for compliments.
fencerider2
04-02-2008, 06:29 PM
BTW, When you gonna trade in that jam prone POS AR-15 and buy a real (Kalashnikov) assault rifle? :P
I just got back from the range, ten thirty round mags one after another, smoke coming off the AR and not one hiccup. You can have that CLP shit, never again.
BTW I have two AK's, they are not very accurate.
I just got back from the range, ten thirty round mags one after another, smoke coming off the AR and not one hiccup. You can have that CLP shit, never again.
BTW I have two AK's, they are not very accurate.
Then you should sell them both and buy one good, match grade AK-47 that will shoot almost as accurately as a real (not crap) AR-15/M16.
TIM TIM TIM
04-02-2008, 08:03 PM
if I recall dont you still live at home newguy? what do you do for a career? I enjoy looking into the market but when I actually get the money to start investing, im for damn sure finding a financial advisor..
Then you should sell them both and buy one good, match grade AK-47 that will shoot almost as accurately as a real (not crap) AR-15/M16.
Like my 2 VEPRs :naughty:
corey r.
04-03-2008, 08:58 AM
if I recall dont you still live at home newguy? what do you do for a career? I enjoy looking into the market but when I actually get the money to start investing, im for damn sure finding a financial advisor..
Why, so they can stick you in mutual funds with 3% annual fees on top of taking 5.75% out of anything you contribute?
Why, so they can stick you in mutual funds with 3% annual fees on top of taking 5.75% out of anything you contribute?
One of my mutual funds is up 20%. It has no front/back end load and only ~2.75 annual fee. :?:
Also, my financial advisor is encouraging me to get into the stock market more than the one stock I have right now when I'm ready, stable, and have a bit more capital in my account. Face it, these people do this for a living. They know more than you, me, or anyone else in this forum about it.
Face it, these people do this for a living. They know more than you, me, or anyone else in this forum about it.
If he knew that much about it, he wouldn't be working. ;)
corey r.
04-03-2008, 12:09 PM
20% ROI total or annually? And for how many years?
Arent you the guy that said he doesnt even have enough money yet to trigger the fees from the Advisor?
Some people like advisors, others, like me, dont. I feel the majority of them are salesmen.
Feel free to keep on using him if you like how it is working for you.
Serbonze
04-03-2008, 12:21 PM
I hire a plumber when my hot water heater dies. Can I do it myself, sure. Do I want to spend the time doing it myself? No, I would rather pay someone to do it for me.
When my A/C stops working, do I fix it myself? No, I call fencerider to fix it because that’s what he does.
When I want to sell my home will I do it myself? I could, but I won’t. I’ll hire a realtor because that’s what he does. I don’t have the time or energy to do it myself, and he knows the market better than I ever will.
It’s the same thing with investing, and I think we have been through this before. Some people are more comfortable hiring a professional for something they don't know enough about, don't have time for, or are not comfortable doing.
If he knew that much about it, he wouldn't be working. ;)
Same for you, then, huh?
As serbonze said. You hire people to do the things you don't have the time, energy, or knowledge to deal with. And I trust this lady, so it works for me.
When my A/C stops working, do I fix it myself? No, I call fencerider to fix it because that’s what he does.
A little humor in an otherwise bland thread. :lmao:
20% ROI total or annually? And for how many years?
Arent you the guy that said he doesnt even have enough money yet to trigger the fees from the Advisor?
Some people like advisors, others, like me, dont. I feel the majority of them are salesmen.
Feel free to keep on using him if you like how it is working for you.
Total. And since November, I believe. Hell, I dunno, I don't even keep track of that crap because I have someone to do it for me. I have it all in my filing cabinet - but 20% since I bought in.
And I feel the same way. But I don't feel this one is.
corey r.
04-03-2008, 12:51 PM
Thats not even 6 months. Let us know how it works out after 5 years. There will be plenty of ups and downs during that time. :)
Thats not even 6 months. Let us know how it works out after 5 years. There will be plenty of ups and downs during that time. :)
Absolutely. All I can hope to do is what everyone else hopes to do. Get out whiel its good and get in while its bad.
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