chinaco
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Feb 14, 2007
- Messages
- 5,072
Everybody has an opinion about soaring gold prices.
The "Crawl in the Bunker" crowd is trying to shield themselves from world destruction.
The "Green Eyed Greed" crowd can't get enough.
This seems so predictable...
Looks a lot like.... internet bubble, housing bubble, pick your bubble.
Gold fever: A dispatch from the zone of contagion - Dec. 9, 2010
It will be interesting to see how many people took their money and how many greater fools hang on!
If I owned it... I would be exit and count myself lucky... which is all I would be (LUCKY) because the good lord knows I am not super speculator!
IMO - Many people lose site of why they bought it in the first place and fall into the greed trap. Hedgers that bought it as an inflation hedge... and have had it for a while... they have the value.... capturing the money is the realization of the hedge... not holding on until it pops! Investors that bought it for a gain... if you don't take the gain... you are likely to not have a gain!
If you own it, you should ask yourself 3 questions:
Which are you?
I would advise every gold owner to look at the hockey stick chart pattern for gold prices in the 70's (and what happened) and look at the chart now!
Didn't you learn your lesson from the last two massive bubbles over 10 years? One of them just 2 years ago! Are you are one of those house flippers that borrowed from your 401k to Flip...
This will not end well for many people!
The "Crawl in the Bunker" crowd is trying to shield themselves from world destruction.
The "Green Eyed Greed" crowd can't get enough.
This seems so predictable...
Looks a lot like.... internet bubble, housing bubble, pick your bubble.
Gold fever: A dispatch from the zone of contagion - Dec. 9, 2010
It will be interesting to see how many people took their money and how many greater fools hang on!
If I owned it... I would be exit and count myself lucky... which is all I would be (LUCKY) because the good lord knows I am not super speculator!
IMO - Many people lose site of why they bought it in the first place and fall into the greed trap. Hedgers that bought it as an inflation hedge... and have had it for a while... they have the value.... capturing the money is the realization of the hedge... not holding on until it pops! Investors that bought it for a gain... if you don't take the gain... you are likely to not have a gain!
If you own it, you should ask yourself 3 questions:
- Am I going to be the saavy investor [-]speculator[/-] that is going to beat all the other investors [-]speculators[/-] at their game (get out just before it pops cause I know how to read it)?
- Am I the greater fool that lost money or lost most or all of my gain before I freaked out and ran for the exit after it plummeted?
- Am I the lucky guy or gal that wiped the greed from my eyes got out to preserve my gains?
Which are you?
I would advise every gold owner to look at the hockey stick chart pattern for gold prices in the 70's (and what happened) and look at the chart now!
Didn't you learn your lesson from the last two massive bubbles over 10 years? One of them just 2 years ago! Are you are one of those house flippers that borrowed from your 401k to Flip...
This will not end well for many people!