Great thread. I've always wondered what a core position actually means. After reading the posts here I feel a little closer to the answer, though it's still a bit vague in my mind ...do people have a clear purchasing power level they would sell there core at and does this constitute a what a core position is?
I disagree entirely. The amount of stackers on here under 25 who have grown up with MTV and that kind of rubbish speaks volumes for those who can and have thought for themselves.
Just some thoughts on the subject.I never thought about a core position but I now think that 10000zs is a good place to be.More if you are able.Using your core for emergencies only is a good idea.A few years ago my health went to crap and I wasnt able to work.Had what Id say was a big c/c obligation.Two banks took me to court to get a stipulation to pay a few hundred a month.If I had a core position at that time it would have saved me alot of grief. At this time I am stacking 10-20 ounces a month and paying off all credit cards by the end of the year.So I pay my bills and stack at the same time.It works for me.I have about 250-300-ounces of ag and not as much au. In terms of younger stackers I find most to be knowledable and willing to learn.Just like some older people some young-uns dont want to hear about PMs but I do tell anyone interested to consider buying some to get a taste of PMs
I wish I had a core like that for me I'm 75-80 percent debt and the rest metal. The mrs. Makes enough to cover the day to day and my wage goes to paying off the mortgage as fast as possible while stacking a little on the dips. I'm hoping that in 10 years it turns out to be the right decision.
At the end of our lives, we are all going to have assets left over... property, money, investments, tangible items, etc. Just because they are left over after death does not make them a waste. A PM stack is an insurance policy against fiscal calamity. It's a means of savings, investment, and appreciation over time. It's an emergency fund in time of dire need. It's all of these things and more. Some people need more or less of this than others, depending on their age, income, and personal circumstance. There is no silver bullet formula to a good stack, it is all a manner of personal comfort. A family man probably wants more reserves than a single man. An old man probably needs less reserves than a middle-aged one. And so on.
I did, but doesn't seem to matter how much I save I still feel poor. All I want is a car and a house, and houses cost so much! I aim to buy one in 2015 without a small mortgage or no mortgage, so hopefully I can do it, I dislike debt, it means handing over power to somebody else (i.e boss, company) and being trapped. I refuse to put myself into a vulnerable position, plus despite what the mainstream media and RE agents are parroting on about I believe that there is no housing shortage, everybody I know who has wanted to buy a house, logs on, finds one, inspects one, and buys it. A shortage would mean people can't get one. It's about affordability, not availability. There are plenty of houses and plenty of room to build more... I am very thankful for social media, underground forums and people who broadcast their own channels speaking the truth with no vested interests. Without it, I would have: a) Purchaced US dollars, yes my Finance manager advised me to purchace a stack of USD with AUD when it got to 1:1 b) Purchaced a house in 2008 @ the top of the market with almost no money down c) Invested in Real estate trust something or other, he was advising me to do this in 2006/7 when I was first starting out. 6 months later it's frozen. (Parents put money in) It's just disgusting, as is the garbage they keep putting out about Generation Y. The fact of the matter is that we're being screwed. Yes - expectations have inflated, but there's no denying there has been a hell of a lot of base inflation as well as currencies lose value and we earn more that buys less
Wise man. You are right in not wanting to hand power to someone else. Even if you do end up with a mortgage do not let anyone at work know. I lied and told people that my wife and i own our home outright. I've worked for some really bad bosses, and if they knew i was in a vulnerable financial position, they could have made things much harder for me. Projecting the fact that you have no financial commitments and do not have to put up with shit, can help greatly.
YIKES!! of course I meant a core position of 1000 ounces of ag.Thanks to all who knew what I meant.But if I knew at 18 what I know now I sure would strive for 10,000 ounces or more.
Core position depends on where you are in the investment lifecycle.At some point ( maybe early 40's) consideration needs to turn to transfering to income producing assets like cash deposits and high yielding shares. IMO PM's are a hedge only in a diversified portfolio . No one in the Oz Top 10 wealthy list has got there with silver stacking.
Because the world is changing. The world they built their wealth on is very different to the current world or what is coming. Had they stacked they may have got to where they are faster??? Just because they got to where they now by whatever means does not make god and silver obsolete. Great idea,stick with what has sucked the life out of many superannuation funds. No sense looking at anything else. No sense doing what all the Central Banks, China, Germany and other countries are doing. All full of shit, no idea what they are doing. Buying Gold and Silver cause they like wasting there money.
Go for it...however big "relative" moves into PM's at any point suggest the punter has not alot to loose and is just punting or that they are an awesome fortune teller. Nothing is changing at all in terms of international wealth or the timing of it.The only thing that is changing are the players. I like silver however I'm not betting my family well being on it. It's a hedge asset and store of value long term.
Add up all your assets and build up your core to about 10% of that value. If you sell then what do you do with the cash if you don't really need it ?
For me its silver and gold numi's, followed by new mineral prospects. Its my way of hedging against consumerism
