So I spent this weekend in Canberra catching up with friends. One such friend is an economist that tracks the current and future trends of all commodities. I was talking to her about my investment in silver, and she was laughing at me, particularly as it went from $45 to $28 in a matter of weeks. She told me some people are saying that silver will hit $50, but that everyone in her office thought that was utterly laughable and will never happen, and that investing in silver is pointless when you look at exchange rates. Even though it had gone to $45. I tried to explain about the current and coming economic conditions and that it's a vehicle for wealth, but she gave me the usual pretentious response. Just thought it was interesting. It's her job to know the economic climate and she had no idea about anything really. To the moon, my fellow idiots! DT
Not surprised at all, they do the same thing for Gold. Gold is in a bubble, Gold is too expensive, Gold has no cash flow etc etc By "they" I mean the bankers and lecturers and the students I met studying masters of finance. They can't apply any of their models or valuations to Gold and immediately disregard it.
Good, my confidence in the future of PMs is greater than ever, since 'experts' are rarely right, if they were they'd of made millions by now and wouldn't still be doing the 9-5 gig.
Exactly, I would have giggled back at her for being a professional in a field she is currently failing in.
Tell her that the definition of an economist is someone that didn't have enough charisma to be an accountant.
Eh, Fishball, you forgot something... [youtube]http://www.youtube.com/watch?v=uSsIRSqEW90[/youtube] (She too must be an economist?)
