What excactly is a permabull? I see its meaning as somone who is permanently bullish on a specific asset/investment. ...Well if someone is permanently bullish on something then they would never sell! I think it's a stupid bloody word (the perma part at least)
IMO someone who is permanently and stubbornly (naively?) bullish, even in the face of an obvious bear market or down trend, to the extent where they will lose money in preference to questioning their past decision given new information, admitting they may have been wrong, or in fact facing reality.
Mmm good points wrcmad. I'm very bullish on silver long term despite the volatility, I guess that makes me a permabull?
Your not going against reality though There are very good reasons for being bullish on silver long term, just not if you believe MSM or the FED.
Agree. there are very good reasons long term. That's why people stack. But to dismiss the possibility that these reasons may not prove to be correct is permabullish. Permabulls do not accept the possibility that they may be wrong.
what wrcmad has written is right on. The other disgusting trait that some or many permabulls exhibit is that they blatantly superhype the value of a commodity such as silver claiming things like "tomorrow (meaning short term - not literally tomorrow) it will shoot way past the moon" or "silver spot is gonna be equal with gold". That's the sort of manipulative, disgusting rhetoric that some permabulls are engaging in for their own personal vested interest. On the other hand, someone who is reasonable and honest will not behave like a permabull. .
There's permabulls and permapessamists. I'm not sure what either have to offer, if a permabull they're going to recommend buy regardless so what's to discuss? And permapessamists, well it's all going to hell tomorrow so again what's to discuss? I can't find the logic in taking a single hard standing position on an investment and choosing to ignore all other streams of information out there whether they be positive or negative.
From what I have seen, especially recently, if I were to update the dictionary with yet another new word I think my definition would be something like this. Permabull. A person who remains optimistic while the majority are pessimistic in regard to Precious metals. It seems to me that the more the price falls and the despair rises the more these people are despised. I know some are delusional and very irritating but the term seems to apply to larger and more diverse groups of optimists as things get tougher, to the point that any conservative optimist can be a "permabull" rather than just the deluded or crooked. Just as 'there are no atheists in foxholes' it seems there are less people being called permabulls during good times. I am neither overly optimistic nor am I a permabull by any means but I believe I have a conservatively optimistic outlook on PM's on a longer term basis. Just ignore "extremists" in both camps at all times and things become clearer I have found. Stay conservative in your investment and your expectations and you should feel reasonably good most of the time. Now, I just need to take my own advice.
I wouldnt class him as a permabull, the impunity he talks about is, no matter what happens, gold will always have SOME value because its a hard commodity you can physicaly hold. Unlike stocks, bonds or other investments where the ultimate downside is it is valued at zero. He also leaves it open as to what he would do in a gold bear market.
There are good reasons why it's not bullish long term as well. A permabull is selective in choosing data or information that supports his own opinion about an investment. An analytical investor attempts to carefully weigh all the evidence. A permabear dismisses the positive data and concentrates on the negative. The most vocal supporters of silver on this forum are permabulls. Even in the face of opposing arguments they maintain that the silver is "predestined" to massively increase in value. On the other hand the most vocal haters of RE are permabears - in the face of a lack of overwhelming evidence to the contrary, they are convinced that RE prices will plummet. (Edit to add: actually, not "overwhelming evidence", just some evidence) A part of me admires the permabulls and permabears for taking a stance, but mostly I view it as foolishness.
Permabull (n) (modern)= The name for somebody who is optimistic that all that all problems associated with the economy can be fixed with a bit more printing. Originally applied to Ben Bernanke and Paul Krugman but has increasingly become a generic term. Permabull (adj) (original) = The rhetoric that comes out of most politician's mouths. Modern popularity of the term increased when Kevin Rudd became Prime Minister in December 2007.
I reckon anyone who has over invested (either financially or other) into a particular field and are sooooooooo deeply wrong they are unable to make the hard call and say they are wrong, therefore they must at all cost, talk up that particular field even though all signs are screaming at them that their view at that particular time is incorrect. I know two such people at this moment in time - my brother - in - law, and BrotherJohn (utuber) another POV is if they are right - Heavens help us all ! because we will never live it down.
The Richard Russell model strikes me as okay for when you go long. If you need to go short at times to derive a return or regular income then it will work against you. So the lesson is, only invest what you can afford not to need in the short term. Whether you diversify that investment is another matter. I am of the school, "Put all your eggs in the one basket, and keep that basket close at hand!".
Permabull is not the same as consistently optimistic. I am not a permabull by anyone's definition yet I am consistently optimistic about the future value of silver and gold. That said, I refuse to deny that factors such as new materials and technology can and will likely have some amount of impact on the industrial use of silver. How much that affects its value depends on other factors as well. A permabull has no reflection on any factors that could affect the value of the metals. All they want to do is convince anyone in earshot that forever and always silver and gold are in a bull market and are heading way higher really soon. I'm a permarealist. .
