Re: Gold as Safety
Gold and gold stocks are indeed on a tear right now. I don't believe that gold represents safety at all. It does represent an asset class that can really fly under certain circumstances.
Thus to me it is more of a speculation than an investment, and also not something that I feel comfortable putting a lot of money in. My wife could cope without her gold jewelry a lot easier than she could without her car, for example. And she is a woman who loves gold.
I was out of gold for many years until 1997. Then I bought some and immediately got hosed. I closed most positions at a loss, and hung on to others. In 2002 I bought quite a bit near the bottom, and have sold a lot of that already, perhaps too soon. But anyway it was profitable, and allowed me to recoup my earlier losses as well.
Now, I am down to $100,000 worth of mining stocks, mostly juniors. My cost on these is $55,000. So I am inclined to let 'em ride, since I think we are approaching the sort of situation where the general public can easily get irrationally hot about gold. "Helicopter Ben" is just beginning his shift, and I expect great things from him. In the sense that he has hubris written all over his egomaniacal face- a real Mama's Boy/ Teacher's Pet if there ever was one.
If things go well (well for gold, badly for the country) my stake could easily triple or more from here.
Of course, he may turn out to be Big Paul in disguise, and I get my ass handed to me. C'est la vie!