Calling all gold bugs

Discussion in 'Gold' started by No1joey, Nov 28, 2014.

  1. miniroo

    miniroo Well-Known Member Silver Stacker

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    chk chk boom!
     
  2. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Here's some positive vibes to the max for you:

     
  3. No1joey

    No1joey Member Silver Stacker

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    So I can assume you have sold all your metals?
     
  4. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Stackers stack. I've been buying :)
     
  5. No1joey

    No1joey Member Silver Stacker

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    If that comes true I'll be stuck buying 1g bars
     
  6. No1joey

    No1joey Member Silver Stacker

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    NYSE online. Let's see what they have in store for us.
     
  7. miniroo

    miniroo Well-Known Member Silver Stacker

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    My main issue in seeing new stackers come in is they have lost the whole point of stacking PM's.
    They seem to think PM's are their vehicle out of poverty, whereas PM's are meant to be a store of wealth not the creator.
    You need to have wealth before you stack so if anyone thinks PM's will actually buy them a house or retirement is insane.

    The rich stack gold 'cos they have a lot of money and can afford to have 10% or 15% of their wealth just sit there, like an extension of their penis for their personal pleasure, they also drink $200 bottles of wine and pay $200 for 100 grams of food on a big plate at a french restaurant.

    But for young people just starting out or anyone with a mortgage or working 9-5, this is the wrong caper. sorry but the only people making money here are the ones dealing in it.

    Like most things, farmers don't make much and they grow stuff, yet the supermarket selling it makes a fortune, stackers are consumers, they bare all the losses, the retailers are the money for nothing club members.
     
  8. smk762

    smk762 Active Member Silver Stacker

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    I have no mortgage, but am saving toward increasing my deposit. Physical gold appeals to me more than numbers on a screen. Current inflation vs savings interest is not my first choice. At present, I'd prefer to keep stacking while the debt to income ratio for AU real estate is so high. If I'm lucky, at some point over the next decade prices will stagnate or fall, as income and gold rises. If not, I'll be a bit more patient and have a larger deposit and lower debt. Worst case scenario, my beneficiaries reap the rewards during their lifetime.

    My super acts to diversify my portfolio, though I have some shares held personally. Not my favourite investment class, researching is time consuming, but better than bank savings.

    Primary investment is toward equipment for business and self-education for self-sufficiency (e.g. build it, don't buy it. If you don't know how, find out). This investment is more work than gold, but I like it just as much. The process is meditative, and the rewards are both tangible and intangible.
     
  9. No1joey

    No1joey Member Silver Stacker

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    $200 wine? Eww.

    Stacker's don't bear all the losses unless you buy and sell up at the two worst possible times. Gold is not just a store of wealth but a great investment and it may just continue to out perform a lot of other investments too. Especially with the outlook on the future.
     
  10. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Stackers may bear losses even selling at the best of future times. Its just that stackers will lose less than everyone else. Maybe much less. Of course, if prices boom, patience will really pay off.

    A great investment in what sense? It will only be a great investment if your investment objectives are met or exceeded. That is not a given. Wait till you offload.

    Would you trust a gloomy bunch of pessimistic curmudgeons with their outlook on the future? Because that is what many stackers are (myself included).
     
  11. Golightly

    Golightly Well-Known Member Silver Stacker

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    Wonder if it's worth the risk of buying some unallocated gold then flicking it after vote using profits to buy physical... I think it will be a yes, mind you I thought the same for Scotland
     
  12. No1joey

    No1joey Member Silver Stacker

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    I am not basing anything on a 'gloomy bunch of pessimistic curmudgeons'. I read and I observe and I predict. And the future for gold is great. You do realise that gold has outperformed the dow by more than 200% since 1970's. The only time stocks outperformed gold was during the tech bubble. So it's more than just a store of wealth. Gold is extremely versatile.
     
  13. No1joey

    No1joey Member Silver Stacker

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    If you see a risk in it then don't, I added to my stack last night knowing full well the vote could be no and it could slide further as a result, which is fine as long as I am adding to my stack because I am positive about the next 1-100000000 years :)
     
  14. Ernster

    Ernster New Member

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    So when do we find out about the result?
     
  15. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Read about cognitive biases in investing, particularly Confirmation Bias and Negativity Bias.

     
  16. No1joey

    No1joey Member Silver Stacker

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    "Silver" Pete, I don't how much gold you own but you clearly are frustrated by it, don't know if it's the fact you can't afford it or you just like arguing.



    [​IMG]
     
  17. No1joey

    No1joey Member Silver Stacker

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    To 2011.

    [​IMG]
     
  18. No1joey

    No1joey Member Silver Stacker

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  19. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    I own gold. I prefer silver. Neither provides a guarantee of future wealth. I'm not frustrated by it. Yes, I have hopes about the future price, but I also acknowledge that those hopes lead to cognitive biases so I try to look at both sides of the coin.

    The frustration here seems to be with people who highlight the possibility that there may be no guarantee that gold will turn out to be a great investment. If it is painful to contemplate such a possibility then that is a warning that emotion may be overriding judgement and cognitive biases may be in play.

    When there is an outcome that you strongly hope will come about, you will be able to find facts to fit that hope and discredit counter-facts. That's what cognitive biases are all about.... the filter through which you view the world.
     
  20. No1joey

    No1joey Member Silver Stacker

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    Telling me to read up on cognitive bias? C'mon you are clutching at straws here. I think you just like to talk! 3000 posts in 9 months!

    Everything is cognitive. I don't get your point here, are you not a stacker?

    Anyway let's get back on the topic, the YES vote on the Swiss referendum will be great news for stackers try to spread the word and keep your fingers crossed!
     

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