Hey guys I am a coin collector and this crap is killing me. I want to buy some coins but the current price of gold is to high. Its good for my current coins but since I don;t plan to sell them it does me no good. Do most people view the current spike in gold as a temporary spike or permanent correction? Will we ever see months off 700 dollar gold again? ( i won;t wish for 400 dollars like a few years ago when I bought coins)
Hey man. I haven't posted here in years, but still lurk. We used to go back and forth a bit in regard to short-term vs. long-term views. You undersestimate your current level of articulateness, your posts and level of understanding have evolved a great deal. Take everything Roubini says with a grain(or gallon) of salt. You are right...there's some sick value out there right now. Use what you've learned to find it and capitalize on it. I think you're overstating things some by going back as far as the early 80's. Since then the US has really come along way in innovating and creating new products and services. Take a look at today's S&P500 components, sector by sector there has been alot of value created since the early 80s--Most of IT, Energy discovery and devlopment, Pharma/Health care, and on and on. Unfortunately, there's also been alot of innovation in financial products that many people didn't understand which led us into this mess. Not to get too political, but coming from somebody who has only ever voted for Repubs and is a big believer in small govt/ free market principles, I think that McCain winning would be devasting to our country. There are alot of issues that I disagree with Obama on, and he's probably not the most "prepared" candidate in the history of our country. But he's got alot of good things going for him such as the willingness to listen and learn, and a history of overcoming situations when the odds were often against him. I wouldn't worry about S&P downgrading our debt too much, until they decide to relocate offshore to Shanghai or Dubai. Keep your chin up.
I think that gold is starting its next bull run due to reason that Federal Reserves here in the USA and abroad are intent on causing hyperinflation of mainly equities. But this obviously will lead to inflation of commodities like gold as well. I'm of the belief that the US Dollar is having a bear market rally and the dollar will sink back down to its lows. In that event you will the commodities begin to rally again. Although nervous and scared money if flocking to gold right now, if hyperinflation by the Fed works and the equity markets do rally..you will see gold rally along with it as the US Dollar begins to fall. Not as much as you have seen recently, but it won't be a bad investment for the long term. Right now gold bullion dealers have no stock in possession. When it comes on market it gets snatched away by gold seekers and collectors in a matter of hours. There is very high demand for this gold from someone, but I don't really know who.
Are there any blogs/forums/books you guys recommend reading for people new to investing or just investing in general? I started my first full time job recently and am looking to start investing outside of my 401k. Right now I get my general news from the Deal Book, WSJ, CNBC, etc. What do you guys suggest?
I haves seen estimates of a bottom between 5000-7000. I don't know the market, anyone hearing different? I like gold but can't buy very much as the price is starting to take off. I would like to buy if it stays close to $900, I'm not going to be able to do much once it crosses the $1000 point and I think once it does it might push to $1200-$1500. Right now for a small investor like myself who doesn't know the market I think gold is a very good play for safety and short term profit.
This is not my experience at all. It is available but since gold is over 900 bucks it just to expensive. American Eagle coins are usually and have always, sold for about 10% over spot price. You can buy them all day long for that I just prefered doing it in 2003 at 400 bucks than today at 1000 per coin.
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define long term?? this time next year, things will be looking up....at least that's what i think. fundamental value is still there. IBM posts earnings yesterday, and their stock goes down. people have to get past the fear...and they will. when they do, you'll have buyers entering the market again, spurring more investment.
get in with others to pool assets...buy bad debt....work out fixed costs with a law firm to manage the assets you buy and keep costs in check.
Yahoo finance is TRULY screwing up, right now. The market is down 350, and their site is saying it's down 1,200! Unbelievable. Whoever is running that should be fired. That can incite panic as much as anything.
"oil will never drop back down" when you hear these sorts of statements, that's the time to bet against it. they're extremes and they're no longer grounded. the opposite is happening now. "the end of american capitalism!!" "the next depression!!" USC is unbeatable...who can beat them? when you hear things like this, it's time to bet the other way. things start getting better for the market TODAY.
I don't know much but I wanted to buy when it was below 90.. sadly I'm in the process of opening an individual account right now.
