I bought SPDR GLD at 110.7
Tommy Grand
correct, this baby is going sky high and will soon be worth twice what
I paid. Anyway, you can follow my fortunes
http://www.google.com/finance?hl=en&safe=active&rls=com.microsoft:*&q=spdr%20gld&um=1&ie=UTF-8&sa=N&tab=we
doug
> A bit late to the party but we'll see. If the doomsday circuit is
> correct, this baby is going sky high and will soon be worth twice what
From what I have always been told the correct way to buy gold is
through stocks, for a variety of realsons, which is what you did.
But I see you got it at .16 cents below the high and the stock pays no
dividend.
I read a report the other day by some guy who says gold is going back
down to $800 an oz. I think he's wrong unless the commander in thief
and his bunch of merry men figure out a way to keep inflation down.
Just think you have one more thing to ponder while trying to play the
guitar.
doug
Wollybird
well, Doug, you will notice they don't actually do anything but sit
on
a chest full of gold. No cash. No Cash flow to pay a dividend with.
How do they manage to have a deficit retainded earnings? They must
buy
high and sell low?. I t looks like even Mike could be this company's
CEO
Tommy Grand
> But I see you got it at .16 cents below the high and the stock pays no
> dividend.
Well, the trade was only executed on Monday. I had intended to buy
back when I originally posted about this, but failed to consider how
long it takes to set up a brokerage account. Having never traded
individual shares before (I'm a mutual fund guy), I didn't realize it
would take Vanguard 10 days to set up the account *after* I made the
electronic cash transfer.
And the point is not to earn income through dividends. I'm hoping for
capital appreciation with an inflation hedge!!
> Just think you have one more thing to ponder while trying to play the
> guitar.
Yes as I watch my videos, now and into the future, I'll undoubtedly be
thinking "thank god for my shares of SPDR GLD". BTW it looks like
we're on our way to a new all time high:
http://www.marketwatch.com/story/gold-futures-soar-to-record-as-dollar-drops-2009-11-18
doug
> we're on our way to a new all time high:http://www.marketwatch.com/story/gold-futures-soar-to-record-as-dolla...
Income through capital appreciation is the only reason to buy gold.
So what your doing is betting that Obama's group will be a total
failure in controlling inflation and gold will therefore rise in
value. Probably a wise bet as so far the only thing Obama has shown
is the ability to spend money.
doug
Tommy Grand
> Income through capital appreciation is the only reason to buy gold.
> So what your doing is betting that Obama's group will be a total
> failure in controlling inflation and gold will therefore rise in
> value. Probably a wise bet as so far the only thing Obama has shown
> is the ability to spend money.
My analysis is that the current account deficit reduces the demand for
dollars, and eventually the dollar will be dumped as a reserve
currency. As you know this deficit has been growing since the 1980s
under the leadership of both parties.
Of course Obama's policies are inflationary which should only help me
get richer. Mwahaha
edspyhill01
Doug,
I believe gold is another investment bubble for the average investor.
The "real" investors are selling their gold for 2 or 3 times what they
paid. When the bubble bursts, they will buy it back at 1/3 to 1/4 the
price. I just read an article saying silver might now be a better
hedge against inflation or whatever. Sounds like the next bubble is
being inflated.
Ed S.
Wollybird
I prefer roulette, but good luck.
Tommy Grand
> I just read an article saying silver might now be a better
> hedge against inflation or whatever. Sounds like the next bubble is
> being inflated.
If you really want an inflation hedge, the best thing is a basket of
commodities. But if you want to party and play the market, you pick
one and let it ride!
doug
what really happens is with inflation the value of your gold will go
up but your buying power will remain the same. if gold goes from 1000
to 2000 but bread goes from 3 dollars to 8 dollars a loaf you lose.
Government loves inflation. nothing like spending money today and
paying it back later with inflated dollars.
Tommy Grand
> what really happens is with inflation the value of your gold will go
> up but your buying power will remain the same. if gold goes from 1000
> to 2000 but bread goes from 3 dollars to 8 dollars a loaf you lose.
> Government loves inflation. nothing like spending money today and
> paying it back later with inflated dollars.
That could happen, but I anticipate a net gain.
Dicerous
remember me telling you about that guy who sold too early when I told
him to? Well he sold all his gold today. Wonder if he's right or you
are!
Tommy Grand
> A bit late to the party but we'll see. If the doomsday circuit is
> correct, this baby is going sky high and will soon be worth twice what
Up and away!!!!!!!!
http://www.google.com/finance?q=gld
U.S. gold hits record $1,174/oz as dollar slides
NEW YORK, Nov 23 (Reuters) - U.S. gold futures hit record
highs above $1,170 an ounce on Monday, gaining more than 2
percent, as the dollar weakened broadly on expectations that
U.S. interest rates would stay low for some time.
LOLOL
doug
I still like my purchase of Ford at 1.83 last spring better. It
closed at 8.73 today. up 377% if my math is right. only bought 1000
shares and have been kicking myself in the ass since then.
Dicerous
Ford is a terrific company. Gold isn't a company.
doug
But he purchased stock in a company not gold bullion.
Tommy Grand
> But he purchased stock in a company not gold bullion.
Exactly why would I buy physical bullion, gotta store it etc. BTW
doug I forgot to mention last Nov I bought zoom technologies at about
$.30 now its about $7.20 lol.
Wollybird
I bought pork bellies on margin at 40
Tommy Grand
> A bit late to the party but we'll see. If the doomsday circuit is
> correct, this baby is going sky high and will soon be worth twice what
lolol
The weaker dollar has once again proven to be the trigger for rising
gold prices. Miners are in good position to exploit the weakness of
the U.S. currency, and Newmont Mining (NYSE: NEM) President and CEO
Richard O’Brien has the strategy to do it. He said in an interview
that the right formula is to produce all you can, as fast as you can,
at the lowest cost you can.
O'Brien said that the dollar has weakened because of the rising
federal budget deficit, but he expects it to eventually rebound which
will make gold prices retreat.
Newmont Miners (NEM) gained around 2% on Monday and closed at $53.34.
Some of the gold related ETFs had a good return in the last month.
SPDR Gold Trust (ETF) (NYSE: GLD) gained 11.5% in November
Tommy Grand
> correct, this baby is going sky high and will soon be worth twice what
mwahahahah
Gold Higher On Reports India Could Buy the Rest of the IMF's Hoard
(GLD)
Surprise! Gold is on the move again, following reports that India is
open to buying more gold from the International Monetary Fund (IMF)
after buying 200 tonnes for $6.7 billion on November 3.
The Reserve Bank of India (RBI) may well buy IMF's remaining hoard of
201.3 tonnes on acceptable terms, which are now under negotiation,
according to reports in India's Financial Chronicle.
A government official said that the additional purchase would depend
on the "successful pitching by RBI." "RBI is an independent body, and
the government does not interfere in its affairs. It will get the gold
if its bid is successful and at the price it has offered." said the
official.
Spot gold is up to $1180.80 in early trading today, up from
yesterday's close of $1168.20.
Many investors have been gaining exposure to gold through ETF SPDR
Gold Shares (NYSE: GLD) or through the miners as represented by Market
Vectors Gold Miners ETF (NYSE: GDX), which seeks to replicate the
price and yield performance of the NYSE Arca Gold Miners Index. Top
holdings of the index include Barrick Gold (NYSE: ABX), Goldcorp
(NYSE: GG), Newmont Mining (NYSE: NEM), Kinross Gold (NYSE: KGC), and
Yamana Gold (NYSE: AUY). There is also a new gold ETF - ETFS Physical
Swiss Gold Shares (NYSE: SGOL) - that traders are starting to use.
Tommy Grand
> correct, this baby is going sky high and will soon be worth twice what
lol
The rush by retail investors into gold has forced the US government to
suspend sales of the world’s most popular bullion coin, the American
Eagle, after running out of inventories. The sale of mint, though
limited in quantity, is used by investors to gauge the appetite of
retail investors.
According to an article in the Wall Street Journal, the US Mint has
sold about 1.19m ounces of American Eagles so far this year, up almost
75 per cent from the same period last year.
This shortage, happening second time after the shortage in August
2008, is the latest sign of investors seeking a safe haven into
bullion amid the decline of the US dollar. The stoppage helped to push
gold prices yesterday to a fresh all-time high of $1,194.90 a troy
ounce, up 0.5 per cent on the day. Both SPDR Gold Trust (ETF)(NYSE:
GLD) and Market Vectors Gold Miners (ETF)(NYSE: GDX) showed positive
results.
Dicerous
buying's not that hard, viz investments...knowing when to sell is a
horse of a different color. At least with stocks (versus commodities)
one can have a long term outlook. Over the long term, gold has proved
to be a lousy investment. Sorry tommy.
David
Dicerous
...tommy have you looked at REITS lately. The bad news will trickle
in for awhile more, esp commercial real estate. Over the long term
though, these have proven fruitful.
David
Tommy Grand
> buying's not that hard, viz investments...knowing when to sell is a
> horse of a different color. At least with stocks (versus commodities)
> one can have a long term outlook. Over the long term, gold has proved
> to be a lousy investment. Sorry tommy.
Well everything is a bad investment long term, because the sun
eventually gobbles us all up. But, I see your point. As far as gold
is concerned, I'm not an investor but a speculator.
Tommy Grand
> A bit late to the party but we'll see. If the doomsday circuit is
> correct, this baby is going sky high and will soon be worth twice what
> I paid. Anyway, you can follow my fortuneshttp://www.google.com/finance?hl=en&safe=active&rls=com.microsoft:*&q...
Gents, I appear to be ruined. Good thing I only bought two shares!
dsi1
That's great! Sorry yoar little caper didn't get any nibbles, at least
we now know the answer to the question of whether yoar a slimeball or
idiot. I think it's somewhere in between! :-)
Tommy Grand
> That's great! Sorry yoar little caper didn't get any nibbles, at least
> we now know the answer to the question of whether yoar a slimeball or
> idiot. I think it's somewhere in between! :-)
Why insult me?
dsi1
Please cut me a break! Most of the posters here get to throw insults
left and right 16/7 and I just do one tiny little truth that's perhaps
cutting it a little close to the bone and you rag on me? WELL, EXCUSE
MEEEEEE!!!!!!!!!!
You really are in banking! :-)
Tommy Grand
Two wrongs don't make a right. Anyway, sorry you have such negative
feelings about me.
Richard Yates
Relax dsi1. Just paste in this url ( http://tinyurl.com/ycw47se ) into any
reply to a "Why" question asked by Tommy. For every hit that this link
receives, I will contribute one dollar to The Pew Center on Global Climate
Change ( http://www.pewclimate.org/ ).
Everyone wins: Tommy gets accurate feedback, you get catharsis, and the
organization gets help combatting illiteracy and idiocy.
dsi1
Don't take it too personal. Yoar actions and motives are bit on the
sneaky side - other than that, yoar probably an OK guy. Shucks, you wuz
just having some fun, right? :-)
dsi1
> dsi1 wrote:
>> On 12/11/2009 9:50 AM, Tommy Grand wrote:
>>> On Dec 11, 1:41 pm, dsi1<d...@humuhumunukunukuapuapa.org> wrote:
>>>
>>>> That's great! Sorry yoar little caper didn't get any nibbles, at
>>>> least we now know the answer to the question of whether yoar a
>>>> slimeball or idiot. I think it's somewhere in between! :-)
>>>
>>> Why insult me?
>>
>> Please cut me a break! Most of the posters here get to throw insults
>> left and right 16/7 and I just do one tiny little truth that's perhaps
>> cutting it a little close to the bone and you rag on me? WELL, EXCUSE
>> MEEEEEE!!!!!!!!!!
>
> Relax dsi1. Just paste in this url ( http://tinyurl.com/ycw47se ) into
> any reply to a "Why" question asked by Tommy. For every hit that this
> link receives, I will contribute one dollar to The Pew Center on Global
> Climate Change ( http://www.pewclimate.org/ ).
Ha ha. I hope you realize that 2 Wongs don't make a Wright, right? To
fight illiteracy and idiocy, the Pew Center would have to first find a
way to destroy the internet. I got some big wire cutters they can use. :-)
Dicerous
> On 12/11/2009 10:30 AM, Richard Yates wrote:
>
>
>
>
>
> > dsi1 wrote:
> >> On 12/11/2009 9:50 AM, Tommy Grand wrote:
> >>> On Dec 11, 1:41 pm, dsi1<d...@humuhumunukunukuapuapa.org> wrote:
>
> >>>> That's great! Sorry yoar little caper didn't get any nibbles, at
> >>>> least we now know the answer to the question of whether yoar a
> >>>> slimeball or idiot. I think it's somewhere in between! :-)
>
> >>> Why insult me?
>
> >> Please cut me a break! Most of the posters here get to throw insults
> >> left and right 16/7 and I just do one tiny little truth that's perhaps
> >> cutting it a little close to the bone and you rag on me? WELL, EXCUSE
> >> MEEEEEE!!!!!!!!!!
>
> > any reply to a "Why" question asked by Tommy. For every hit that this
> > link receives, I will contribute one dollar to The Pew Center on Global
> > Climate Change (http://www.pewclimate.org/).
>
> Ha ha. I hope you realize that 2 Wongs don't make a Wright, right? To
> fight illiteracy and idiocy, the Pew Center would have to first find a
> way to destroy the internet. I got some big wire cutters they can use. :-)
>
>
>
>
>
> > Everyone wins: Tommy gets accurate feedback, you get catharsis, and the
> > organization gets help combatting illiteracy and idiocy.
phone rings: rrriiiiiiiiiing
Mr. Wong answers the phone: hERRo! you have the WONG numbah!
dsi1
>
> phone rings: rrriiiiiiiiiing
>
> Mr. Wong answers the phone: hERRo! you have the WONG numbah!
Ohh... you're despicable!!! OTOH, I do answer the phone sometimes with
"hahrro?" and sometimes, I even say "Nooo! Heee not hereeer! Heee not
hereee!" I'm Asian so it's OK. OTOH, yoar pretty much plum outta luck! :-)
Dicerous
That's interesting, because I knew a guy named *wong* who answered his
phone this way. It's nice to see an ethnicity that can have fun with
itself. White people are too damn serious.