Quote:
Originally Posted by Tony_SS
Hi Greg.. I have only read the first 5 pages of this thread but you have inspired me to buy my first stocks! However, you said not to buy gold, what reason do you have for this? It matches your advice, that you get paid to wait, and over the last 10 years, the trajectory has been up, as it has been with other precious metals. So I'm just wondering what you have against them?
TIA!
Now, I'm just trying to decide where the best place to manage my online stocks would be. Scottrade anyone?
Tony
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I've just rolled in from RTTC a couple hours ago and am a bit "rummy" -- but wanted to respond to your gold question.
My feelings about any investment in precious metals are the same - gold or silver etc.
Basically I think there are two trades here -- SPECULATIVE --- which means you're HOPING it goes up from where you bought...
OR
A person is a fatalist -- and sees the world coming to an end and Gold will be the only currency.
I'm not a speculator.... and I don't see our economy becoming so bad that I'll have to use gold as a currency. If I'm going to speculate that the price of an investment is going to go up == then I want to get paid while I wait for that to happen. Dividend stocks or apartment complexes - or commercial real estate are far better long term "speculations" IMHO.
If I thought the worlds currencies were going to collapse --- then I'd have to have ALL my money invested in gold - and I'd have to take possession of it - and probably build a bomb shelter and stock food and water.
But that is also why I own everything I "have" - house - cars - etc. Nobody can take that away from me even if EVERYTHING goes south.