Would you have had to bought silver and actually be showing some type of profit right now? And how many would it have to have been to actually have been a decent profit for all the years you have held it? Right now, I am calling it. I don't care if it goes up 100% from here, it was still, for me, a bad investment and I should have sold more when it was around the 40 mark. Only then could I call it a good investment. 40 now or tomorrow? Or 50 even? No.
I think there'd be a few older stackers (from 2009/2010~) who are now in the red through their dollar cost averaging strategies. Unless they've taken profits through buying/selling a little whilst we were in the 30's. I agree with the bad investment part - though expect backlash, people here are VERY set in their ways. Any contradiction to the norm results in some tempers being shown. It'd be like me calling your new born baby, "ugly". Even if it's the most hideous thing known to this entire universe, you still think it's the most awesome thing ever. Could do no wrong! Or if that's too harsh of an analogy for you, here's one I prepared earlier:
Before 2005 ( edit 2006 ) or end 2008 - bearing in mind that from 2000-2005 au dollar varied from low in 2002 of 52 us cents to around 78.
I went into the red when it dipped below $26. If I wanted to make money out of it I should have listened to my wife and sold half when it hit $49 but I was waiting for the magical number $50. On the other hand I have probably wasted more money on beer and nightclubs than I have ever spent on silver, that still makes silver a better buy, even at this current price.
Not selling, because there's no point. If and when it goes parabolic though I'm out. What I should have done is stick with what I know. I know IT, not mining. If I'd done that, all would be well now. My decision though, not blaming anyone. Just pissed off with myself for listening to others and feeling the need to rant.
I started in 2006. Price was $10/oz. I loaded up in Nov 2008 @ $9/oz. Same thing happening now as it happened at the end of 2008. IMO if the system collapses then why not max up the credit cards for some free stuff now. I always have enough $$ to make the payments tho. By the beginning of 2009 I was up to 45k in cc debt, I owned 10 oz of gold, 2 oz platinum and 600 oz silver. Last year I had 1oz of gold 200 oz of silver and 2k in cc debt. Now I have 1 oz of gold, no platinum and around 400 oz of silver and 10 k cc debt. By the end of the year the cc debt will be over 20k. Moar gold and a wee bit more silver methinks. BTFD!
I started stacking in late 2008. First 50 oz bars were at $13 per oz. I think if I sold now I *might* be slightly in the red.
Meh. The portion of my stack that I have left is in the red but the reasons why I bought it are still as strong as ever - if not stronger. I was never in it for speculative "to da moon" reasons so I really don't care. Would I rather have my underwater silver versus fiat in the banks, public share market, REIVs etc. Damn right. I sleep at night because I have silver stashed in a cave somewhere not because I am worried about its day-to-day price. Does anyone regret taking out fire insurance when they see the bushfire miss their local region? Does anyone regret advocating for civil liberties?
Don't forget the opportunity cost! You could have made > 20% in those 4 years through a (practically zero risk) savings account.
True, but most of us learn't a heck of a lot of stuff by investing in gold and silver. Can you put a price on that?
and if you held it in cash you would be 7% per annum compounding worse off over that time. This is what they want the weak hands to leave.
7% worse off compared to what exactly? Not in terms of gold, silver, property, oil, postage stamps, 1L of milk...
I don't get it either. Going by your figures the $8k difference on your cc debt between last year until now means the extra 200oz of silver you accumulated has cost you $40 oz plus interest on your cc :| Cheers markcoinoz
