for those that missed the 2009 market drop
- Thread starter fvaldes
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NickRac
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Not sure if Soros knows much about gold, but he says it's not safe.
Soros: Gold not safe | Video | Reuters.com
Soros: Gold not safe | Video | Reuters.com
If you look at buying physical gold, you've got a sizable % markup which means that gold has to appreciate by just that much in order for your investment to be at square one. However, the real scary thing is when the price of gold starts sliding you could be looking at a significant discount over the market price in exchange for someone to take it off of your hands.
As for gold ETFs, they are even scarier.
I'd recommend putting your money in strong companies with lasting business models. Hedging against a market down turn doesn't hurt either. Stick to making your big gains from your own business that you know well ..too many people in this business have lost lots of money investing in bubbly or high risk assets.
I've heard a lot of wise people say that investment in guns & ammo is just about the best investment you can make.
If you're interested in a long term play (5-10 years) I'd invest in CNQ (Canadian Natural Resources).
Why I'm Bullish on Oil:
There is a lot of debate about how much "easy oil" is actually left on earth, with some people thinking Saudi Arabia is more than half used up. The recent $70 billion stock offering needed by Petrobras so they can develop way offshore in Brazil is an example of the expensive nature of future oil.
The Chinese government has "economic spies" (people loyal to the country that are willing to share info with them) high up in most of the World's major oil companies, and therefore I believe they know more about the World's true oil numbers than almost anyone else out there except for the US military. When oil was $40/barrel during the peak of the recession China signed a 10 year contract with Russia to purchase oil for $87/barrel. China is also developing oil infrastructure in some of the most dangers parts of Iraq. If China, with it's superior knowledge of World oil supplies, is making these moves... I'm convinced that by the time the US economy stabilizes (2012-2015) oil will be $150+/barrel. You've got two countries in Asia (China & India) that each have more than a billion people, and each are going to double their oil consumption in the next 5 years. BUY BUY BUY
Why I'm Bullish on Oil:
There is a lot of debate about how much "easy oil" is actually left on earth, with some people thinking Saudi Arabia is more than half used up. The recent $70 billion stock offering needed by Petrobras so they can develop way offshore in Brazil is an example of the expensive nature of future oil.
The Chinese government has "economic spies" (people loyal to the country that are willing to share info with them) high up in most of the World's major oil companies, and therefore I believe they know more about the World's true oil numbers than almost anyone else out there except for the US military. When oil was $40/barrel during the peak of the recession China signed a 10 year contract with Russia to purchase oil for $87/barrel. China is also developing oil infrastructure in some of the most dangers parts of Iraq. If China, with it's superior knowledge of World oil supplies, is making these moves... I'm convinced that by the time the US economy stabilizes (2012-2015) oil will be $150+/barrel. You've got two countries in Asia (China & India) that each have more than a billion people, and each are going to double their oil consumption in the next 5 years. BUY BUY BUY
Why don't you sign up for some of those penny stock offers, and see what those companies will recommend for you? :evil_laughter:
Silver looks a better bet than gold atm, there's a lot of distrust around gold atm, and I think it's gonna reach a peak soon. Silver on the other hand, seems to be much more likely to be a good bet.
You're such an idiot - Of course the economy will recover. Every recession has morons like you running around doing the chicken little "it's different this time, this really is the end"...
HB is a little crazy, but he's not an idiot. I'm pretty sure he's referring to true economic recovery, not the facade built on borrowed and printed dollars.
you're right, the world economy is going to be in shambles forever and never again will men prosper in any way shape or form
umm
lol this is actually a good idea if you can short what they promote
predictions are that gold will cap out at $2000/ounce (it's sitting around $1300 right now)
I'm not too heavily into gold, however all of my finance professors have told us to make 2nd thoughts on investing in it. They say it's nearing its peak.
