tag:blogger.com,1999:blog-5465015914589377788.post5294485360461264858..comments2024-03-20T09:32:16.592-04:00Comments on Michael James on Money: $10,000 GoldMichael Jameshttp://www.blogger.com/profile/10362529610470788243noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-5465015914589377788.post-4978534280841309442020-11-02T10:14:34.661-05:002020-11-02T10:14:34.661-05:00The reply above is (in part) a reply to Canadian C...The reply above is (in part) a reply to Canadian Capitalist's comment:<br /><br />Gold is a narrow market, so anything can happen if enough money rushes in. But counting on greater fools is not an investment strategy; it's speculation.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-84618566829887074152011-08-23T15:28:46.552-04:002011-08-23T15:28:46.552-04:00@Mark: Agreed. I'm happy to just watch the me...@Mark: Agreed. I'm happy to just watch the merry-go-round and not try to figure it out.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-15658250027217117352011-08-23T14:56:36.062-04:002011-08-23T14:56:36.062-04:00Just another flavour of the month, or year. Gold ...Just another flavour of the month, or year. Gold was a dud a few years back - it has since tripled in price. Nothing does that, only to come back down eventually. <br /><br />Then the flavour was real estate. Soon it will be platinum. Then back to oil. Around and around it goes. <br /><br />The beauty of holding some dividend-paying companies or broad-market ETFs that invest in all of this stuff is, you never have to worry about getting off the merry-go-round at the wrong time.<br /><br />Just wait your turn and enjoy the rewards of being patient.My Own Advisorhttp://www.myownadvisor.canoreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-52966716709087295712011-08-23T11:37:43.902-04:002011-08-23T11:37:43.902-04:00@Andi: I see a broad index of world stocks as mor...@Andi: I see a broad index of world stocks as more likely to keep pace with inflation than gold.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-83042048828527637782011-08-23T11:27:02.358-04:002011-08-23T11:27:02.358-04:00I read a very rational opinion of a financial advi...I read a very rational opinion of a financial advisor who recommends gold. The only difference between his view and other gold bugs is that he says that "gold is NOT an investment" and goes on to prove this but ends up by deciding that gold is a preservation of wealth, an insurance against hyperinflation. After living through inflation of 120%/year, I tend to see his point. Besides, gold is NOT the only preservation - silver (with more economical value) is one, base-products companies that pay dividends are too and so on.Andihttps://www.blogger.com/profile/09975774781231509585noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-46642975215860559432011-08-22T18:40:43.900-04:002011-08-22T18:40:43.900-04:00@CC and @Gene: I see gold as a game of hot potato...@CC and @Gene: I see gold as a game of hot potato. You don't want to be the guy holding it when everyone figures out that the actual uses of gold don't come anywhere close to justifying its current price.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-86233885176072716442011-08-22T18:36:14.916-04:002011-08-22T18:36:14.916-04:00I've read the theory that as long as interest ...I've read the theory that as long as interest rates are low, there will be one bubble after another as money is cheap and has to find new asset classes to inflate. We get a sequence where stocks are in a bubble, real estate is a bubble, commodities bubble up, etc. Perhaps antiques or art are next after gold falls off.<br /><br />Gold's price moves will indeed be tough to predict, for the reasons you and CC stated.genehttps://www.blogger.com/profile/05608927986297939720noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-73575666586881352342011-08-22T11:17:47.197-04:002011-08-22T11:17:47.197-04:00If I'm lucky my losses can be recuperated by a...If I'm lucky my losses can be recuperated by a lot of laughter in my old age. My guess is they are as valuable as Gold Rings, and Gold Jewelery.Big Cajun Manhttp://www.canajunfinances.comnoreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-14538949148060768052011-08-22T09:00:38.198-04:002011-08-22T09:00:38.198-04:00@Big Cajun Man: I suspect that those things sitti...@Big Cajun Man: I suspect that those things sitting around your house doing nothing are unlikely to make you a profit :-)Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-91318678009709716272011-08-22T07:10:45.292-04:002011-08-22T07:10:45.292-04:00Other things sit around my house doing nothing, bu...Other things sit around my house doing nothing, but I value them greatly as well.Big Cajun Manhttp://www.canajunfinances.comnoreply@blogger.com