worst gold fund for 2019

Discussion of the Gold portion of the Permanent Portfolio

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mathjak107
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worst gold fund for 2019

Post by mathjak107 » Fri Dec 06, 2019 3:50 am

this made the top 5 worst funds from yahoos 2019 worst funds list

'Invesco Gold & Precious Metals Investor (FGLDX): This fund has an expense ratio of 1.47% and management fee of 0.75%. FGLDX is classified as a Sector - Precious Metal fund, and these mutual funds invest in stocks with a focus on the mining and production of precious metals like gold, silver, platinum, and palladium. With an annual average return of 0.32% over the last five years, the only thing absolute about this absolute return fund is that it absolutely deserves to be on our "worst offender" list.
'

https://finance.yahoo.com/news/mutual-f ... 01586.html
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europeanwizard
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Re: worst gold fund for 2019

Post by europeanwizard » Fri Dec 06, 2019 4:41 am

I wonder how they justify that expense ratio. Or is it just milking their remaining client base for all they're worth?
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Re: worst gold fund for 2019

Post by mathjak107 » Fri Dec 06, 2019 5:34 am

i am not sure but that is nuts ..

it is so easy in the financial world to over charge because so many are so financially ignorant nor do they care to learn .

people care more about learning about their car , refrigerator or sports stuff then they do caring about learning about something as important as their money .
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Re: worst gold fund for 2019

Post by dualstow » Fri Dec 06, 2019 6:27 am

After I badgered my Dad to buy physical gold, he proudly told me that he finally bought some. Only he bought a gold fund. 😱
Van Eyck
That was a few years ago. Now he has American eagles in a safe deposit box.
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Re: worst gold fund for 2019

Post by mathjak107 » Fri Dec 06, 2019 7:40 am

back in the 1980's i took possession of gold i bought at fidelity ... back in the day i did not realize that because fidelity had an office in nyc there was sales tax charged if you took delivery .

so that was not a good thing ....

but the worst was when i wanted to sell, local dealers offered way way less than spot even on eagles .

so i ended up taking the nyc subway system at that time which was plagued with crime , loading 10k in gold in my daughters barbie knapsack and her and i went in to manhattan to deak international .

they gave us more but still way below spot ...today i think her original barbie knapsack appreciated more then the gold did ...

i don't want to hold more than a coin or two today . in fact our bank won't even let you store gold in the safe deposit box anymore .
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Re: worst gold fund for 2019

Post by shekels » Fri Dec 06, 2019 8:54 am

europeanwizard wrote:
Fri Dec 06, 2019 4:41 am
I wonder how they justify that expense ratio. Or is it just milking their remaining client base for all they're worth?
I would guess many 401k's hold it as a option for it's participants.
I was blessed or not to have a 401k with about 6 options that were developed just for the major company that I worked for.
On top of that the funds were not public, and the only information you could get about the funds were through the company I worked for.
Wash your damn hands, people.🙏
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Gold < 1300. Maybe,
Until the FED said "Hello" to MMT >:D
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Re: worst gold fund for 2019

Post by ochotona » Fri Dec 06, 2019 8:58 am

In my Fidelity account, I had a few dollars left over, so I pushed it into FSAGX, an also expensive Fidelity gold miners fund. That way I would not have idle cash sitting there, but way expensive. Would not buy more than $100 worth.
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Re: worst gold fund for 2019

Post by dualstow » Fri Dec 06, 2019 9:09 am

mathjak107 wrote:
Fri Dec 06, 2019 7:40 am
...
back in the day i did not realize that because fidelity had an office in nyc there was sales tax charged if you took delivery .

Ouch! I wonder if Sophie is reading this, what the current laws are, and if there is any tax involved with taking delivery from Perth Mint. Probably not?

...
today i think her original barbie knapsack appreciated more then the gold did ...
😂 I know a guy who has made a small fortune buying and trading sneakers.
in fact our bank won't even let you store gold in the safe deposit box anymore .
Yeah, there's a thread on that. I think we decided the real upshot is that it means they don't take responsibility if it vanishes, which is something I've always assumed anyway. Because how would they know unless you lose it and complain?

I don't think the bank would help me out should the gold disappear, but I feel better having it there than at home.
I do not insure my gold.
I do visit the box twice a year, partly to keep it active and partly to get my wife accustomed to the process so she can bring it home one day.
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Re: worst gold fund for 2019

Post by sophie » Fri Dec 06, 2019 9:32 am

New York City modified its laws a while ago - there's no sales tax on gold bullion as long as the value is more than $1,000.

BTW for the benefit of readers who may not have picked up on this: the funds discussed in this thread are gold mining stocks, not gold. There's a big difference. Mining stocks may not track the price of gold and can be super risky, as they won't provide the counterbalance to the stock market that you generally want from gold. It's a little disingenuous, frankly, to have those funds labeled "precious metals".

For this reason, they have no place in the Permanent Portfolio or its offshoots. It would be a speculative buy only (thus this thread probably belongs in the VP section).
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Re: worst gold fund for 2019

Post by mathjak107 » Fri Dec 06, 2019 9:33 am

nyc finally did away with sales tax on gold . i regretted buying from fidelity and not benham capital at that time . benham had the zero coupon treasury funds back then . boy talk about volatile .
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Re: worst gold fund for 2019

Post by mathjak107 » Fri Dec 06, 2019 9:37 am

dualstow wrote:
Fri Dec 06, 2019 9:09 am
mathjak107 wrote:
Fri Dec 06, 2019 7:40 am
...
back in the day i did not realize that because fidelity had an office in nyc there was sales tax charged if you took delivery .

Ouch! I wonder if Sophie is reading this, what the current laws are, and if there is any tax involved with taking delivery from Perth Mint. Probably not?

...
today i think her original barbie knapsack appreciated more then the gold did ...
😂 I know a guy who has made a small fortune buying and trading sneakers.
in fact our bank won't even let you store gold in the safe deposit box anymore .
Yeah, there's a thread on that. I think we decided the real upshot is that it means they don't take responsibility if it vanishes, which is something I've always assumed anyway. Because how would they know unless you lose it and complain?

I don't think the bank would help me out should the gold disappear, but I feel better having it there than at home.
I do not insure my gold.
I do visit the box twice a year, partly to keep it active and partly to get my wife accustomed to the process so she can bring it home one day.
with chase they forbit cash and gold that is not some form of collectible . it is not matter of not wanting to be responsible for it as no safe deposit box is covered for any loss , you need your own insurance .

if they see you doing it they will turn it over to authorities to find out why you are breaking your agreement and trying to hide cash and gold knowing it is forbidden .
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Re: worst gold fund for 2019

Post by dualstow » Fri Dec 06, 2019 2:06 pm

What is there a camera in there, in the private room? Not in my bank.
sophie wrote:
Fri Dec 06, 2019 9:32 am
BTW for the benefit of readers who may not have picked up on this: the funds discussed in this thread are gold mining stocks, not gold.
Well, both. Mathjak wrote about taking possession of gold, so not from miners. Although that would be neat if we could do that. O0
New drinking game: have a drink every time someone on the radio or TV news says "data"
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