+1, I thought this is what a smart average joe PM investor does. Im also leveraged 0%, every piece of metal I buy is with cash I've earnt (and getting my parents to join in with their savings), if price falls so be it, cause in the long run silver is going sky high. I really hope the price does fall to low $20's, Ima buy a crap load of silver then. as mentioned before its so manipulated that the short-term prices you shouldnt worry about....unless your a short term trader ofcourse.
I was 14 then, so was pretty unintelligent then haha, Unfortunately I was not born earlier to join in on the cheap silver prices of the smart intelligent people. Damn my parents for having me when they were 21, they shud've done it 10 years earlier and been intelligent. im just teasing, either way all of us here are stacking, and we will all be laughing in 10 years time and wishing prices were $45. Now lets go have a drink.
I'm just going to throw this out there, but I don't think stacking Pm's has much to do with intelligence, instead I would argue that it is more about exposure. The MSM barely touches PMs and neither do most investors etc, which is why your average joe doesn't know about them. I'm only 20 and have been only stacking a year, however, I wasn't exposed to the idea of stacking until about a month before that.
I think curiosity is a big part, the MSM always talks about how bad things are but they never tell us why. For me it was like "How is shit this bad" and "There has to be another way". So I googled about and one thing led to another. A lot of people assume the government works for the public's best interest when it is quite the opposite. Also most people have the "at least we aren't as bad as this country and that country" so they just shut up, don't bother to act and continue to roll with the flow.
its quite entertaining to try bottom picking for a second time in a life-time, but yes stackers want to have a lower price and BUY them for a non participants, they just want to laugh at the drop in price and ignore the opportunity of their life-time.
Agreed. I'm no spring chicken myself, but lower prices assist lots of younger people to build themselves a nice stack. This can only be a good thing.
Silver to tank or to $1000 oz*, either one will put a big grin on my dial *assumption - everything else stays the same
I started when i had the money to do so, maybe i am a sheep. But when the price was down (Gold) i had a mortgage to pay. I had not considered silver i must admit until i found this site, now i am happy to buy either. So for me i hope both silver and gold tank so i can buy some cheaper stuff. But will be happy to sit on it if it rises.
Sub $30 suits me, I will accumulate the lowest premium 999 fine as I can as my bullion coins remain well above what I bought them for, so bullion bars would be nice to buy closer to $20 than $30.
Smart money: "$50? Nah I'll be smart and wait for a pullback. $45? Brilliant, a ten percent pullback, I'll buy some more now! $39? Cool, another ten percent pullback, I better buy some more to take advantage of this too. $34? hmm, my allocation is already over In silver but I had better buy some more so I don't lose out on this. $29? Oh god, I already have far more of a percentage of my wealth in silver than I want! What to do?! :-D If it drops to 25 our less id say there will be a few on this board in very deep positions! Gotta play the hand you're delt though hey.
Baaa baa... :lol: In monetary terms, its appears that you are not a sheep. Everyone can be a sheep in some specific area of their life, even the most original thinker. The human consciousness is akin to a garden, and the soil has to be ready to receive a particular seed (ie: gold & silver are real money) and let it grow. For example, back in 1998, I was doing some Y2K computer work for an Investment Bank in "The City" in London, and an English guy I was working closely with told me that he was investing by buying Kruggerands. I knew what Kruggerands were, and my only reaction was to think "how odd... what a curious investment". Didn't even ask him why he was doing it. What he said went in one of my ears & straight out the other. I was earning big money as a contractor, and could have brought 3 Kruggerands a week after paying living expenses. But that was not to be, I was not yet ready to "receive" this knowledge. This guy had spent most of his career working in Investment Banks, and about my age. Obviously he had been influenced by the people he worked with, so there must have been a few people in the City who were also heavily invested in gold. In 2001, I put my entire life-savings (approx $500,000 AUS) into the stockmarket, spreading it across 4 Unit Trust Funds run by ABN Amro bank, one of the largest banks in the world, with a whole department of people "looking after" your investment. Before this I had never invested in the Stock Market, and money really did not interest me then, it was just something I earned & spent. Money was boring. Put the money in because everyone else around me was making fortunes on the Stock Market. And so almost immediately after investing, the market actually started to turn, and then 9/11 happened, and then in mid 2002 I lost my job, and the IT job market was now shit. So went to America on a holiday for 6 weeks, and every night on the TV news they just kept talking about how the market was collapsing at a rapid pace. Got back to NZ to try and find work (to be close to Mum & Dad), and eventually I just cashed out all my investments. (1) I was not going back to Holland again, (2) I was afraid that I would now lose everything I'd spent building up (since 30). And after cashing out, only half was left, I had lost $250,000 in about 12 months. Ignorant people say "just hold on..." but the thing is, many of those Blue Chips are still below what they sold for back in 2000/1. Ended up back here in Australia, used the remaining $250,000 as a deposit on a house in NZ, and threw every spare penny at paying off the mortgage. Paid off the mortgage in April 2010. And *only then* did I start to educate myself about money. This was BECAUSE I was now debt free, had my house (the biggest thing you will ever pay off), had spare money (each week's paycheck) and needed to invest it wisely. I'd been burned once, the so called professionals had wiped out half my life savings, and being ignorant about money no longer seemed such a great idea. After seeing the crap unfold around the world, it was clear that something was very wrong with the economy. The people in charge who meant to know what they are doing, obviously did not have a clue. Started self-education through Google, and my first real step on "the Path" was watching the 3.5 hrs video on YouTube called "The Money Masters". In mid-2010, I started buying Silver at the Perth Mint PMDS, and then also cashed out (80% as much as was allowed, get the other 20% in a few years when I'm 50) a private savings pension/scheme in NZ, because I started getting worried that one morning I'd wake up to find that overseas stock markets had completely tanked, thus wiping me out for a second time. I console myself that gold & silver will NEVER go to zero, and the fundamentals of silver are fantastic. So... I've now got 6 figures invested in gold & silver and thankfully got in before the big rise in September 2010. I'm still buying both when they come down to the "right level". But recently I've been building a big cash position for use in a crash, which both Rick Rule, Pierre Lassonde, and Mark Faber advise. We are akin to hunters on the african plains, and when a herd of animals come out of no-where (ie: the market crashes), its no good to you unless you have some ammunition (ie: money) to bring them down. So that's my story. I relate it to you because I think its educational. Each person will come to gold & silver when the time is ripe, for them. And if you are not ready, then you will not hear the story, in spite of the fact that people are telling you to your face the merits of metals.
