|
What? Glenn Beck was wrong again?
The price of gold plunged to the lowest level in almost three years
Wednesday as traders anticipate lower inflation risk as the Federal Reserve dials back its economic stimulus program. |
What? Glenn Beck was wrong again?
|
What? Glenn Beck was wrong again?
|
What? Glenn Beck was wrong again?
On Thu, 27 Jun 2013 11:52:32 -0400, Wayne.B wrote:
On Thu, 27 Jun 2013 11:42:47 -0400, wrote: Gold is not a necessity ======= Unless you want to protect yourself from hyperinflation. Governmental money printing always ends badly sooner or later. *If* I wanted to buy gold, and didn't continuously listen to Glen Beck like Harry, where would you suggest the purchase be made? John (Gun Nut) H. -- Hope you're having a great day! |
What? Glenn Beck was wrong again?
On Thu, 27 Jun 2013 12:33:36 -0400, John H
wrote: On Thu, 27 Jun 2013 11:52:32 -0400, Wayne.B wrote: On Thu, 27 Jun 2013 11:42:47 -0400, wrote: Gold is not a necessity ======= Unless you want to protect yourself from hyperinflation. Governmental money printing always ends badly sooner or later. *If* I wanted to buy gold, and didn't continuously listen to Glen Beck like Harry, where would you suggest the purchase be made? ===== There are a lot of different ways although I would not recommend bullion or coins - transaction costs are too high. In my opinion the easiest, cheapest and safest way is via the SPDR Gold Shares ETF (Exchange Traded Fund): GLD http://finance.yahoo.com/q?s=GLD If you want leverage vs the price of gold then gold mining stocks offer an opportunity, either directly or via an ETF for greater diversity. AEM, GLDX, NEM, ABX, etc. http://finance.yahoo.com/q?s=GLDX In any case I would recommend no more than 10 to 20% of your portfolio with the rest being in cash equivalents or high quality, low cost index funds. |
What? Glenn Beck was wrong again?
On Thu, 27 Jun 2013 13:22:42 -0400, Wayne.B wrote:
On Thu, 27 Jun 2013 12:33:36 -0400, John H wrote: On Thu, 27 Jun 2013 11:52:32 -0400, Wayne.B wrote: On Thu, 27 Jun 2013 11:42:47 -0400, wrote: Gold is not a necessity ======= Unless you want to protect yourself from hyperinflation. Governmental money printing always ends badly sooner or later. *If* I wanted to buy gold, and didn't continuously listen to Glen Beck like Harry, where would you suggest the purchase be made? ===== There are a lot of different ways although I would not recommend bullion or coins - transaction costs are too high. In my opinion the easiest, cheapest and safest way is via the SPDR Gold Shares ETF (Exchange Traded Fund): GLD http://finance.yahoo.com/q?s=GLD If you want leverage vs the price of gold then gold mining stocks offer an opportunity, either directly or via an ETF for greater diversity. AEM, GLDX, NEM, ABX, etc. http://finance.yahoo.com/q?s=GLDX In any case I would recommend no more than 10 to 20% of your portfolio with the rest being in cash equivalents or high quality, low cost index funds. Thanks, Wayne. John (Gun Nut) H. -- Hope you're having a great day! |
What? Glenn Beck was wrong again?
On Thu, 27 Jun 2013 13:22:42 -0400, Wayne.B wrote:
On Thu, 27 Jun 2013 12:33:36 -0400, John H wrote: On Thu, 27 Jun 2013 11:52:32 -0400, Wayne.B wrote: On Thu, 27 Jun 2013 11:42:47 -0400, wrote: Gold is not a necessity ======= Unless you want to protect yourself from hyperinflation. Governmental money printing always ends badly sooner or later. *If* I wanted to buy gold, and didn't continuously listen to Glen Beck like Harry, where would you suggest the purchase be made? ===== There are a lot of different ways although I would not recommend bullion or coins - transaction costs are too high. In my opinion the easiest, cheapest and safest way is via the SPDR Gold Shares ETF (Exchange Traded Fund): GLD http://finance.yahoo.com/q?s=GLD If you want leverage vs the price of gold then gold mining stocks offer an opportunity, either directly or via an ETF for greater diversity. AEM, GLDX, NEM, ABX, etc. http://finance.yahoo.com/q?s=GLDX In any case I would recommend no more than 10 to 20% of your portfolio with the rest being in cash equivalents or high quality, low cost index funds. Forgot this. Next month I plan to remove my portfolio from the Wells Fargo management folks. They've been consistently well under performing the S&P. My question to them is why not just invest everything in the SPDR S&P 500? At least I wouldn't be as far behind the S&P as I've been, nor would I be paying them for 'management'. (Thirty years in the military did not teach me a lot about investing.) John (Gun Nut) H. -- Hope you're having a great day! |
What? Glenn Beck was wrong again?
On Thu, 27 Jun 2013 13:43:47 -0400, John H
wrote: Forgot this. Next month I plan to remove my portfolio from the Wells Fargo management folks. They've been consistently well under performing the S&P. My question to them is why not just invest everything in the SPDR S&P 500? At least I wouldn't be as far behind the S&P as I've been, nor would I be paying them for 'management'. (Thirty years in the military did not teach me a lot about investing.) ==== I think that's a good plan. Charles Schwab has excellent service and low commissions, especially compared to Wells Fargo. The Vanguard index funds (which can be purchased directly or via Schwab) are excellent and have low management fees. |
What? Glenn Beck was wrong again?
In article ,
says... On Thu, 27 Jun 2013 11:52:32 -0400, Wayne.B wrote: On Thu, 27 Jun 2013 11:42:47 -0400, wrote: Gold is not a necessity ======= Unless you want to protect yourself from hyperinflation. Governmental money printing always ends badly sooner or later. *If* I wanted to buy gold, and didn't continuously listen to Glen Beck like Harry, where would you suggest the purchase be made? John (Gun Nut) H. I, like most intelligent people would go to a gold broker..... |
What? Glenn Beck was wrong again?
On Thu, 27 Jun 2013 13:58:41 -0400, Wayne.B wrote:
On Thu, 27 Jun 2013 13:43:47 -0400, John H wrote: Forgot this. Next month I plan to remove my portfolio from the Wells Fargo management folks. They've been consistently well under performing the S&P. My question to them is why not just invest everything in the SPDR S&P 500? At least I wouldn't be as far behind the S&P as I've been, nor would I be paying them for 'management'. (Thirty years in the military did not teach me a lot about investing.) ==== I think that's a good plan. Charles Schwab has excellent service and low commissions, especially compared to Wells Fargo. The Vanguard index funds (which can be purchased directly or via Schwab) are excellent and have low management fees. Thanks again. Our Wells Fargo meeting is later this month. They've basically let some computer algorithm pick stocks for buying and selling and I may have shares in a couple hundred different stocks at one time. Of course, the number of shares per stock is small, and I'm not charged for the transactions. But last year there were about 80 that were reportable. Drives me up a wall at income tax time. I think a few funds might be much easier to manage. John (Gun Nut) H. -- Hope you're having a great day! |
What? Glenn Beck was wrong again?
On Thu, 27 Jun 2013 14:28:10 -0400, John H
wrote: I think a few funds might be much easier to manage. === Absolutely, probably significanly lower fees as well. Except for dividends/distributions, nothing is reportable for tax purposes until you sell. |
What? Glenn Beck was wrong again?
On Thu, 27 Jun 2013 14:08:45 -0400, iBoaterer
wrote: In article , says... On Thu, 27 Jun 2013 11:52:32 -0400, Wayne.B wrote: On Thu, 27 Jun 2013 11:42:47 -0400, wrote: Gold is not a necessity ======= Unless you want to protect yourself from hyperinflation. Governmental money printing always ends badly sooner or later. *If* I wanted to buy gold, and didn't continuously listen to Glen Beck like Harry, where would you suggest the purchase be made? John (Gun Nut) H. I, like most intelligent people would go to a gold broker..... === [not] |
What? Glenn Beck was wrong again?
|
What? Glenn Beck was wrong again?
In article ,
says... On Thu, 27 Jun 2013 14:08:45 -0400, iBoaterer wrote: In article , says... On Thu, 27 Jun 2013 11:52:32 -0400, Wayne.B wrote: On Thu, 27 Jun 2013 11:42:47 -0400, wrote: Gold is not a necessity ======= Unless you want to protect yourself from hyperinflation. Governmental money printing always ends badly sooner or later. *If* I wanted to buy gold, and didn't continuously listen to Glen Beck like Harry, where would you suggest the purchase be made? John (Gun Nut) H. I, like most intelligent people would go to a gold broker..... === [not] Why, if you know the price of gold going in, what's the worry? |
What? Glenn Beck was wrong again?
|
What? Glenn Beck was wrong again?
On Thu, 27 Jun 2013 16:42:38 -0400, iBoaterer
wrote: In article , says... On Thu, 27 Jun 2013 14:08:45 -0400, iBoaterer wrote: In article , says... On Thu, 27 Jun 2013 11:52:32 -0400, Wayne.B wrote: On Thu, 27 Jun 2013 11:42:47 -0400, wrote: Gold is not a necessity ======= Unless you want to protect yourself from hyperinflation. Governmental money printing always ends badly sooner or later. *If* I wanted to buy gold, and didn't continuously listen to Glen Beck like Harry, where would you suggest the purchase be made? John (Gun Nut) H. I, like most intelligent people would go to a gold broker..... === [not] Why, if you know the price of gold going in, what's the worry? === Transaction costs. The gold brokers are in that business to make money - lots of money - your money. Buying and selling coins and bullion through a broker is subject to many fees, commissions and even sales taxes in some venues. Then you have the issue of where and how to store it and insure it. When you go to sell, you have to be able to authenticate it. |
What? Glenn Beck was wrong again?
On Thu, 27 Jun 2013 16:59:48 -0400, JustWaitAFrekinMinute
wrote: On 6/27/2013 4:47 PM, wrote: On Thu, 27 Jun 2013 14:07:46 -0400, iBoaterer wrote: Gold is not a necessity and once the bubble bursts. the gold in the market now is enough to supply actual need. When gold is a decreasing asset, that jewelry will lose it's luster and a lot of it will be melted down ... as it has been for thousands of years. Simply the fact that the bubble price drove miners to exploit tapped out mines and make that profitable does not imply that the market cost of the gold would support it if people were not expecting a price increase and stopped buying. Gold is money, money is a necessity in this world today. Gold is not money when there is this much irrational speculation. It is like the people who said real estate was money. You got that right... I bought a house on that premise in 1990, bought it for 90,000. A bit over a decade later it was worth 235 but I made the mistake of not selling then, now it's worth 180 again, but I won't get that for it. === Real estate has *very* high transaction costs and long transaction cycle time. |
What? Glenn Beck was wrong again?
On 6/27/2013 5:45 PM, Wayne.B wrote:
On Thu, 27 Jun 2013 16:59:48 -0400, JustWaitAFrekinMinute wrote: On 6/27/2013 4:47 PM, wrote: On Thu, 27 Jun 2013 14:07:46 -0400, iBoaterer wrote: Gold is not a necessity and once the bubble bursts. the gold in the market now is enough to supply actual need. When gold is a decreasing asset, that jewelry will lose it's luster and a lot of it will be melted down ... as it has been for thousands of years. Simply the fact that the bubble price drove miners to exploit tapped out mines and make that profitable does not imply that the market cost of the gold would support it if people were not expecting a price increase and stopped buying. Gold is money, money is a necessity in this world today. Gold is not money when there is this much irrational speculation. It is like the people who said real estate was money. You got that right... I bought a house on that premise in 1990, bought it for 90,000. A bit over a decade later it was worth 235 but I made the mistake of not selling then, now it's worth 180 again, but I won't get that for it. === Real estate has *very* high transaction costs and long transaction cycle time. When we came in we had a plan to keep the house for 20 years.. We paid ahead and extra the first 15, then when we moved up here we made the mistake of keeping it to rent to a friend.. who is no longer a friend... If we had stuck to our plan we would have bought in 1990 for 90grand, 6% interest (average), if we sold when I wanted to we would have gotten 230 for it which would have covered the fees nicely:) |
| All times are GMT +1. The time now is 11:39 AM. |
Powered by vBulletin® Copyright ©2000 - 2025, Jelsoft Enterprises Ltd.
Copyright ©2004 - 2014 BoatBanter.com