House of Cards

[Dancing Fire]

Date: 2/13/2009 9:44:56 PM
Author: Beacon

Date: 2/13/2009 9:36:53 PM
Author: DiamanteBlu

Date: 2/13/2009 9:22:27 PM
Author: Beacon
I had some experience with gold in 1980. I had some bullion and sold it. I am sure I don''t need to tell you how things were then. The public were very active speculators. What I recall was that some got quite cheated by the dealers. I had bullion that looked like this and had no difficulty selling. Since that time I never dealt with gold. That is why I don''t know the best methods for dealing in it now.

Yeah, I remember the frenzy - and the was when $800 was worth something! LOL!

For now I am sticking with the trusted source of K''s. They are low margin and you know the purity. I''d suggest finding a coin dealer and check out the reputation.

I have been half-thinking that I should get back into my jewelry business [Gioielanza.com]. The site is not up. My tools are in storage. But I''m thinking that something really cool could be done. I have some killer bench jewelers that will execute the designs [they tend to be important, sleek and contemporary]. Yeah, I''m babbling . . . but one of these days I will need to put up a killer site with pieces designed to take advantage of the market conditions!

It is such a vivid memory for me. I had good luck just by coincidence. The day I could get into town to sell was pretty much the top. THere were people standing out in the street to buy gold. It was a physical introduction to what a market top looks like. But I felt bad for some people cause they got cheated and I saw it happen.

Since then I own stocks. I normally don''t like metals, no income, no utility. Some stocks from that time pay annually in dividends my whole cost basis. But now, well, it might just be that time again for the metal.

that tells you the top is near.when everybody wants in you wanna be out

 

[Beacon]

Date: 2/13/2009 9:41:51 PM
Author: Dancing Fire

Date: 2/13/2009 9:22:27 PM
Author: Beacon
I had some experience with gold in 1980. I had some bullion and sold it. I am sure I don''t need to tell you how things were then. The public were very active speculators. What I recall was that some got quite cheated by the dealers. I had bullion that looked like this and had no difficulty selling. Since that time I never dealt with gold. That is why I don''t know the best methods for dealing in it now.

what do you mean by cheated?

They sold them loose ingots, no certs. Those ingots may not have weighed correctly, they were scratched up. When those people would go to sell, they would have to have them assayed again. Later gold crashed and people found this out. When that market crashed there was no time to get well. It was like internet period, the thing smashed down. I will never forget the lady in front of me reading the bible as she waited to buy gold. It started me wondering about God, as that lady really lost a lot of money.

 

[DiamanteBlu]

Date: 2/13/2009 9:44:56 PM
Author: Beacon

Date: 2/13/2009 9:36:53 PM
Author: DiamanteBlu

Date: 2/13/2009 9:22:27 PM
Author: Beacon
I had some experience with gold in 1980. I had some bullion and sold it. I am sure I don''t need to tell you how things were then. The public were very active speculators. What I recall was that some got quite cheated by the dealers. I had bullion that looked like this and had no difficulty selling. Since that time I never dealt with gold. That is why I don''t know the best methods for dealing in it now.

Yeah, I remember the frenzy - and the was when $800 was worth something! LOL!
For now I am sticking with the trusted source of K''s. They are low margin and you know the purity. I''d suggest finding a coin dealer and check out the reputation.
I have been half-thinking that I should get back into my jewelry business [Gioielanza.com]. The site is not up. My tools are in storage. But I''m thinking that something really cool could be done. I have some killer bench jewelers that will execute the designs [they tend to be important, sleek and contemporary]. Yeah, I''m babbling . . . but one of these days I will need to put up a killer site with pieces designed to take advantage of the market conditions!

It is such a vivid memory for me. I had good luck just by coincidence. The day I could get into town to sell was pretty much the top. THere were people standing out in the street to buy gold. It was a physical introduction to what a market top looks like. But I felt bad for some people cause they got cheated and I saw it happen.
Since then I own stocks. I normally don''t like metals, no income, no utility. Some stocks from that time pay annually in dividends my whole cost basis. But now, well, it might just be that time again for the metal.

Yeah, I know what you mean. I am at the point at which the only thing to trust to generate cash flow is my own business.

You know, I LOVE cash flow and I LOVE hard assets. I have seen so much crap in the markets [I was VP of an M&A firm and you saw my derivatives story]. The markets will have to go way low for me to fork any money in that direction. Hard assets and real estate, OTOH - huge opportunity.

 

[diamondseeker2006]

DB, for those of us with assets in 401k plans with limited investment choices, what proportion would you have in stocks, bonds, and cash for someone 50ish who hopes to early retire? We are looking at real estate opportunities outside of that.

 

[DiamanteBlu]

Date: 2/13/2009 10:14:35 PM
Author: diamondseeker2006
DB, for those of us with assets in 401k plans with limited investment choices, what proportion would you have in stocks, bonds, and cash for someone 50ish who hopes to early retire? We are looking at real estate opportunities outside of that.

DS, you know, you are really dealing with two separate issues. You have the passive return issue [investing in stuff, etc.] and you have a business return. You can get a return on the stuff you have now but based on your talents [I am sure you can enumerate them] you can generate a whole additional income stream.

If you just want to get a return on whatever stuff you have now, I really can''t be of much help.

If you want to leverage the relationships that you have, you can be huge - and create huge wealth. In that area we can certainly do something.

 

[Dancing Fire]

Date: 2/13/2009 10:14:35 PM
Author: diamondseeker2006
DB, for those of us with assets in 401k plans with limited investment choices, what proportion would you have in stocks, bonds, and cash for someone 50ish who hopes to early retire? We are looking at real estate opportunities outside of that.

you wanna retire rich? do everything the opposite of what i do when it comes to investment.

 

[Rank Amateur]

So where will the top be for gold? When it was up to 850 years and years ago many professioinals (filled with hubris) were saying that gold was the only place to be. Then it fell to, what, 300?

People were saying that crude might go to 200 so it was a buy at 140, right? Now it trades at 40. Most "experts" were wrong on this one too.

The man had it right: Pride goeth before the fall.

 

[DiamanteBlu]

Date: 2/16/2009 10:36:46 AM
Author: Rank Amateur
So where will the top be for gold? When it was up to 850 years and years ago many professionals (filled with hubris) were saying that gold was the only place to be. Then it fell to, what, 300?

People were saying that crude might go to 200 so it was a buy at 140, right? Now it trades at 40. Most 'experts' were wrong on this one too.

The man had it right: Pride goeth before the fall.

I expect that BHO/Pelosi/et al.'s first trillion dollars is just a start. The trillions of paper dollars that will be pumped into our economy over the next four years will overwhelm it. In the long term, I expect that this wanton printing of FRNs will lead to the total destruction of the U.S. currency. That is why I believe that the place to be is in hard assets.

I anticipate the price for gold and silver to become an integer multiple [more than 3] of their current levels after the manipulators lose control. I am betting, therefore, that being long on precious metals is the place to be. I am betting that accumulating "well priced" property will also be an effective strategy for creating wealth.

In the short term, the manipulators have control of the metals markets so I don't expect gold to go much over $1k. So, in addition to going long [and taking delivery], I believe that there is money to be made in straddles because there will continue to be some volatility.

And, as far as the "professionals" go - as far as I'm concerned, most of them are not qualified to have an opinion. I, therefore, ignore them. This approach has served me well to date.

But, hey, what do I know!?!

 

[Dancing Fire]

Date: 2/16/2009 10:36:46 AM
Author: Rank Amateur
So where will the top be for gold? When it was up to 850 years and years ago many professioinals (filled with hubris) were saying that gold was the only place to be. Then it fell to, what, 300?

People were saying that crude might go to 200 so it was a buy at 140, right? Now it trades at 40. Most ''experts'' were wrong on this one too.

The man had it right: Pride goeth before the fall.

i was shock when oil hit $100. i shorted oil when it hit $108 and shorted more at $120.

 

[Dancing Fire]

Date: 2/16/2009 12:54:02 PM
Author: DiamanteBlu

Date: 2/16/2009 10:36:46 AM
Author: Rank Amateur
So where will the top be for gold? When it was up to 850 years and years ago many professionals (filled with hubris) were saying that gold was the only place to be. Then it fell to, what, 300?

People were saying that crude might go to 200 so it was a buy at 140, right? Now it trades at 40. Most ''experts'' were wrong on this one too.

The man had it right: Pride goeth before the fall.

And, as far as the ''professionals'' go - as far as I''m concerned, most of them are not qualified to have an opinion. I, therefore, ignore them. This approach has served me well to date.

But, hey, what do I know!?!

rule #1 when it comes to investments.... don''t ever beleive in those so call experts.

 

[Harriet]

Like you?

Does anyone think gold still has an upside?

 

[Dancing Fire]

Date: 2/18/2009 6:13:59 PM
Author: Harriet
Like you?

Does anyone think gold still has an upside?

don''t know what gold will do. i did buy some oil stocks last week,since then oil has dropped $3 per barrel.

$30 oil here it comes !!

 

[DiamanteBlu]

Date: 2/18/2009 6:13:59 PM
Author: Harriet
Like you?

Does anyone think gold still has an upside?

You mean besides me?

 

[DiamanteBlu]

Date: 2/19/2009 12:53:44 AM
Author: Dancing Fire
don''t know what gold will do. i did buy some oil stocks last week,since then oil has dropped $3 per barrel.

$30 oil here it comes !!

Hmmmm . . . note to self . . . DF has just acquired in oil stocks . . . must short oil . . .

 

[Dancing Fire]

Date: 2/19/2009 9:20:27 AM
Author: DiamanteBlu

Date: 2/19/2009 12:53:44 AM
Author: Dancing Fire
don''t know what gold will do. i did buy some oil stocks last week,since then oil has dropped $3 per barrel.

$30 oil here it comes !!

Hmmmm . . . note to self . . . DF has just acquired in oil stocks . . . must short oil . . .

yup!!

if you wanna make some money.