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I guess I don't know any gold stackers, so I can only go by guesses and hearsay.
But I think there are two types: Those that gradually buy a little, then a little more, ... And then those who will be using the money so they cashed out investments and worry about it shrinking given low bank interest rates. Need to buy a car? Cash out some gold. Need roofing done? Cash out some gold.
So not investing, just parking money.
I agree. I don't know if it's because of the current social/political environment or that I've gotten older and learned guessing what the market is going to do(short term) is nothing more than a crap shoot. I still think if you have 10 or 15yrs before you may need the investment, that's it's the most profitable way to go.Quote:
I feel less certain than ever as to what the market is going to do.
I wouldn't call 26yrs a short time window.Quote:
What I found was that gold/Dollar (and other currencies) has not ever peaked unless you cherrypick very short time windows.
Given an endless time frame, nothing "peaks" if it manages to stay in existence.
It's always feels really good here in the central valley after months of 95+ degree weather when get that first cool down streak. Really nice this week.
My office is too cold. My knuckles turn blue.
We did get a very early cool front. It's 81 degrees with a feels like of only 84.
Warming here. Should be in the 80s by the weekend.
From my experience, even if you DO know gold stackers, you are going by guesses and hearsay, cause that's how they operate. It's passion, but whether it is reason is debatable.Quote:
Originally Posted by dilettante
To some extent, we all are. With the gold obsessed, you go one layer deeper: Do you buy gold shares or do you buy physical gold? If the latter....what do you DO with it? If you keep it in a bank vault, you'll be paying rent, which certainly hurts your investment returns. If you don't keep it in a bank vault...well, that's when it gets interesting, I suppose.Quote:
But I think there are two types: Those that gradually buy a little, then a little more, ... And then those who will be using the money so they cashed out investments and worry about it shrinking given low bank interest rates. Need to buy a car? Cash out some gold. Need roofing done? Cash out some gold.
So not investing, just parking money.
I don't have the stomach for any commodities other than gold and I don't have any interest in investing in gold. That seems to be for the zealots, or those who are massively diversified.
I was thinking about that, too. The market occasionally acts in quite predictable ways in the short term. That may be an illusion, though. If some unforeseen calamity occurs and the market tanks, everybody says, "the calamity caused this drop." If the market drops without a calamity, or if the market rises following some shock, people come up with some explanation for the direction that it moved. That's probably false. The market is certainly chaotic. If there is no obvious and fairly extreme influence like an unforeseen calamity, then a chaotic system is going to rise and fall for reasons that are not necessarily even possible to understand. We may just be rationalizing away past behavior.Quote:
Originally Posted by wes4dbt
Possible snow where I was supposed to be looking for fish in the next two days. Should be warm again by next week, though...or maybe it will go through warm and get back to more cold.
I love the weather this time of year. It's not good for walking around in streams trying to see things, though.
I looked a little and found quite a number of "bury it in the back yard" safes for sale. However in the case of silver it's so bulky and heavy by value that such things look utterly impractical.
I see other places that offer space to rent in vaults, but I think you're right that doing that would eat up value pretty quickly. If there was much to be made operating such places we'd surely hear of the odd robbery attempt, right? And probably a few successful robberies as well.
I also saw safes that can be bolted to the floor or wall. It starts to look crazy pretty fast.
I assume most with any significant hoard of silver just try to hide it somewhere at home, maybe near the back of a pile of storage boxes. Seems easy to find if a thief suspected its presence, just kick stuff around until something doesn't readily budge.
Gold's more compact, so maybe safes would be more practical. I still think most of it ends up in sock drawers though.
I suspect that the reason my friend has gold is that he already has a massive safe. That's not uncommon out here, though it's not about precious metals, it's about guns. Gun safes are massive. Almost all of them are too large to be readily moved, which is as good as having them bolted to the floor. Most probably are bolted to the floor anyways, since you don't want them falling over. That would mean that any burglar would have to be able to crack the safe, which would require tools and some understanding. That would prevent any threat from opportunistic burglars.
If you buy a safe for gold, you really should factor that cost into your investment decision. If you already have a massive safe for other reasons, then the cost of the safe is irrelevant to the investment decision.
When I was living in Florida, my landlady told me that somebody broke into her house. They sat on something and drank all the booze she had (I think it was just a few bottles of wine). What they were sitting on contained some valuable amount of money in some form, but they just got tanked and staggered off none the wiser.
I don't think silver is worth holding. My friend has some, but he makes custom jewelry, so what he holds may be solely for material purposes. It's just not that valuable.
One place where I worked large safes were used to hold program listings and documentation. It seems silly today, but back then it wasn't uncommon. I think it was about fire, not theft.
Of course the actual source code was archived to magnetic tape, copies were made and stored off-site in "coffins" inside an old indoor swimming pool.
Considering it's a system that's based on perception, whether true or not, I'd say it's a chaotic system. There are forces and people that have the power to affect the market but only in the short term.Quote:
Originally Posted by Shaggy Hiker
But when fixed income were paying 1%, where else could you invest with an acceptable amount of risk. With CD's and Government bonds paying a reasonable rate the last few years it's made it easy for me to remove most of my investments from the market. I've enjoyed removing that stress.
I'm looking out of a window.
I've looked out of a window.