I wish I never bought silver

tozak said:
I mean really what else is there to invest in?
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Tozak, I love this statement. You are so right - there is no easy money left in any investing class. Nothing substitutes hard work and knowledge. Know when to hold and know when to fold and get a clever business or high reward employment.

Mr.G
 
tozak said:
I was buying Silver before the economic crash and I was sure it was going to $30, I bought all the way up to $21 only to see it crash down to $9 and my investment almost halved (some relief due to exchange rate) I then took a good look at it and saw Silver miners then were struggling to sell the metal above mining cost so I piled in all I could and was rewarded with a run all the way to the high 40's. Now we are down to $26 and I see the same thing we had at $9, the miners are struggling to mine it at a profit at this point. I think it could travel sideways for some time now, anything up to 2 years but it's gonna go for another run and it's gonna be a great one. I'm a buyer at this price just based on the mining costs.

Lets just say in 5 years time Silver was $300 an ounce, would it really matter if you bought it at $40, $36 or $26, not really so long as you held it for the long haul. Silver will be going up but if holding it during a long sideways consolidation period is going to stress you then maybe gambling on the rigged Forex is more your cup of tea. I mean really what else is there to invest in?
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No offence but this is what ive heard over and over again, stick it out for the long haul bla bla, if you cant predict what will happen to silver in the next 30days how can you predict that it will go up in 5years, (not counting normal inflation). What if space mining takes off and we find ourselves with an abundance of silver?
 
Mr.G said:
tozak said:
I mean really what else is there to invest in?
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Tozak, I love this statement....
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I love that statement too... it is for that exact reason I parked some lazy money in PM's.

tozak said:
...maybe gambling on the rigged Forex is more your cup of tea.
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I also find the above statement quite ironic, given the state of play on silver spot. :lol:
 
If you look at it from a different perspective, $4700 is cheap for an important lesson learned; you could have taken a semester at uni or night school and would not have impacted you as much. Ponder, what useful lessons/knowledge have you gained from that $4700 loss? You might sit out a bull run or recognise when assets are overbought in the future, for example.
 
BootyBandit said:
Silver is suppose to be shining in economic times like this but its obviously being controlled so it will never reach its true value
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You know about the infamous Andrew McGuire incident don't you? where they attempted to run him down after his blew the whistle on the JP Morgan silver manipulation scheme? Central London, JP Morgan, thug in a souped up V12, etc. We have a video still on silver stackers of this famous incident that was reported world-wide. It shows Andrew's damaged car being chased by a powerful V12. Use the search feature to find it. Its top stuff.
 
I sympathise with OP, having myself jumped onto the silver boat at around $38, only to watch it decrease alarmingly. But I didn't put in a huge amount at first, and have been dollar cost averaging since. Bought a good chunk again at $31ish and some more at $29. I intend on buying a set amount of ounces each year and will continue to do so, since I'm in this for the long haul (decades, not years). Plus I only have a small proportion of my money in PMs ... like with any investment you don't put your eggs in one basket. So although I'm still down a fair bit of money overall, I don't feel too bad.

And yeah, as another poster said, it's not like shares have done any better in the last year or two!
 
I'm buying...... It has to go up at some stage, think of it this way if it was cash in the bank your wife would have spent it on crap like handbags. If I have to wait 5 years I wait, if it drops to $10 I will buy as much as I can.
Has anyone ever thought of going into the casino with $100,000.00 or $200,000.00 and putting it on black? I have lol
Silver has to be safer than that.
 
I feel for you!

but you don't lose anything until you sell it, you still have the same number of ounces you ever had, no more, no less. You have lost nothing, yet!

You can take a 5K loss now or just sit on it and hope it goes up. If you don't need the cash right this minute then you have nothing to lose by holding onto until it goes up. Of course if it drops more you will have a heart attack.
 
Well you've only "lost" 4 grand if you sell it. Technically you havent lost anything yet. Ive lost about the same amount of money if i were to sell mine today but oh well, shit happens. You just gotta either hold onto it or keep buying it to bring down the average price per ounce (mines about 47 dollars, plus i have loan interest on top of that because i thought silver was going to go to the moon and i would miss out if i didnt take out a loan to buy a heap of it - lesson learned, lol).
Really though, 4 grand is a drop in the bucket. Keep what you've got already and give it to the grandkids one day if the price of silver is still low, im sure itll make for a fascinating story.
 
Jislizard said:
I feel for you!

but you don't lose anything until you sell it, you still have the same number of ounces you ever had, no more, no less. You have lost nothing, yet!

You can take a 5K loss now or just sit on it and hope it goes up. If you don't need the cash right this minute then you have nothing to lose by holding onto until it goes up. Of course if it drops more you will have a heart attack.
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Agreed, I am not planning to sell because I dont want to lose that money, but there are things I want to do now that require a few thousand $(skydiving solo A licence) and I dont want to dig into my bank savings to do it, so I was planning to sell off some silver but didnt expect it to be $26!
 
If you happened to buy any high premium stuff you could try and sell that off for a small loss.

Thanks for the thread though, gave me a good laugh before bed.
 
BootyBandit said:
Jislizard said:
I feel for you!

but you don't lose anything until you sell it, you still have the same number of ounces you ever had, no more, no less. You have lost nothing, yet!

You can take a 5K loss now or just sit on it and hope it goes up. If you don't need the cash right this minute then you have nothing to lose by holding onto until it goes up. Of course if it drops more you will have a heart attack.
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Agreed, I am not planning to sell because I dont want to lose that money, but there are things I want to do now that require a few thousand $(skydiving solo A licence) and I dont want to dig into my bank savings to do it, so I was planning to sell off some silver but didnt expect it to be $26!
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What do you consider more of a gamble, purchasing of silver or jumping out of a plane? Your moneys safer in silver
 
It is only because I started stacking at $15 that my stack is breaking even. Sub 26 and I am in the same boat as you. My last purchases were $50 Kangaroos a week before the crash.

I am no better investor than you, I was just in it a bit longer.

by buying my silver now I am averaging out my cost per ounce so I will make my returns back quicker.

1oz at $50 = I have to wait until silver hits $50 before I break even.
1oz at $50 + 1oz at $26 and silver only has to go up to $38 and I break even

If silver drops to $20

1oz at $50 + 1oz At $26 + 1oz at $20 and silver only has to go to $32 before I break even.

The lower it goes the more I can buy and the quicker I can break even when it does rise again.

But yeah, hard to justify buying more of a depreciating asset.
 
sconejon said:
What do you consider more of a gamble, purchasing of silver or jumping out of a plane? Your moneys safer in silver
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Im enlisting into the army this year so I want to do things like live my life instead of putting it into a metal, im not talking about getting high or blowin money on booze, im talking bout experiences and skills.


Clawhammer said:
You wanna go skydiving in winter?
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Im not those types that dont do things because of weather, I always go swimming at the beach even when its raining
 
BootyBandit said:
sconejon said:
What do you consider more of a gamble, purchasing of silver or jumping out of a plane? Your moneys safer in silver
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Im enlisting into the army this year so I want to do things like live my life instead of putting it into a metal, im not talking about getting high or blowin money on booze, im talking bout experiences and skills.
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Enlist in the paratroopers, cake and eat it!
 
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