Not allot of body to this post I admit, it's more about a personal bet I have with someone. I would like to know what other fellow stackers think, I am of the opinion that $100 silver is not going to happen this year. I'm so sure i'll be dishing out 5oz to my mate on January 1st if i'm wrong. Basically I don't buy into the stuff permabull commentators spew out, (eg: "crash JPM buy silver" Keiser, brotherjohn,endlessmountain, STG, chapman,sprott....) though my friend follows it like a religion, thus his deluded mind (I say that half jokingly of course). What do you think? Good call? :/ my apologies if this belongs in general discussion.
I think your 5oz are safe. Was there a bet the other way? I'd take a piece of that betting action at 1 to 1 I don't see it past $75 until well into next year.
Based on historical events, I think a doubling in 12 months is likely... But more than double in under 4 months... Highly unlikely Thanks, Mick
lol yeah, I probably won't take it off him unless his wife forces him to make good on the bet (it's caused fights in the past ) but I will use the experience to prove his love for brotherjohnf is flawed - very flawed. I'll never let him forget that I was the one that stopped him from getting into bitcoins, he owes me big for that! The sooner I can get him away from the permabull commentators the sooner i'll be able to teach him a thing or 2.
if silver reaches somewhere between $60 and $80 then you may be in receipt of an extra 5 ounces of silver, but i believe your friend would still have won in spirit. $100 is a bit extreme... seems like the bet was setup for him to fail
keeping him away from high premium silver was good, but trying to convince him that silver is not a great investment opportunity probably wasn't all that bright
I don't understand, haven't done either of those things. He's my best friend of 15 years, we've both had silver for quite some time now. I stopped buying in the low 30s but he still continues to buy, he's not afraid to insult me over my stance at all, let me tell you. I just think with the amount of cash he spends on PMs he'd best listen to me at times, he's easily convinced by youtube commentators that have their own interests at heart. I simply want to do right by him. I'm a zerohedge reader that uses facts and charts to piece together my moves, he relies on youtube commentators - I feel obligated to be hard on him sometimes.
I reckon there are a lot of people here, especially the new entrants, that hope you lose that 5 ounces. But, if silver hits $100 before Jan1, 2012, we will be in such a world of hurt as a people that collecting on a friendly bet would probably be the last thing on your mind.
Oh yes, no doubt. In Real Life I have a feeling allot of people here wouldn't like me or my views on PMs. I am not a fan of this whole "crash JPM buy silver" generation, they are far too uninformed to be in the Silver game in my opinion (generalizing of course). It is good to hold physical, yes, but you also need to know why and when to get out. May comes to mind, buying high and selling low.... sigh. Anyway thanks for your thoughts
I've got a bet with a mate that sounds a bit like your mate but the target is $70. I still think I'm going to win but if it is $70 I've had a win on my investment and would be happy to pay up.
if you look at how many attempts it took gold to crack $1000 i think we're gonna bounce off the magic 50 a couple of times before it breaks through. Still a lot of sell algos and burnt first timers looking to cash out.
If GFC2 hits in the next month you might be in for a scare, the spot nearly doubled from Feb to May this year. Mind you it also fell after that.
I don't suspect a GFC will be all that great for Silver personally. I could be very wrong, I admit, but I like looking at history untill something comes along to prove it isn't viable to do so. I'm actually scared of another 2008, I don't see it as something that's going to make me money.
