The Dawning of a Golden Decade

Discussion of the Gold portion of the Permanent Portfolio

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Smith1776
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The Dawning of a Golden Decade

Post by Smith1776 » Fri May 29, 2020 7:33 pm

https://ingoldwetrust.report/wp-content ... nglish.pdf

A paper about gold and its current position in the political, economic, and social landscape. Recommended reading by Jim Rickards.
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europeanwizard
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Re: The Dawning of a Golden Decade

Post by europeanwizard » Sat May 30, 2020 1:28 am

Memorable quote on page 7:
Truth hurts. Maybe not as much as jumping on a bicycle with the seat missing, but it hurts.

Inspector Frank Drebin
It's not a bone-dry paper, they did their best to keep it readable with a joke in the sideline here and there.

This is my first crisis with a lot (for me) of money invested. And I didn't know in advance how well I'd sleep. I've been very surprised that gold in the PP basically let me sleep like a baby.
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Hal
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Re: The Dawning of a Golden Decade

Post by Hal » Sat May 30, 2020 3:14 am

europeanwizard wrote: ↑
Sat May 30, 2020 1:28 am
Memorable quote on page 7:
Truth hurts. Maybe not as much as jumping on a bicycle with the seat missing, but it hurts.

Inspector Frank Drebin
It's not a bone-dry paper, they did their best to keep it readable with a joke in the sideline here and there.
/quote]

plus the Hedgeye cartoons ;)

It's very easy to convince yourself to go with high growth portfolios until the bottom falls out....
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Libertarian666
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Re: The Dawning of a Golden Decade

Post by Libertarian666 » Sat May 30, 2020 1:58 pm

356 pages? I'm glad I have a lot of spare time and that I read fast.
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Smith1776
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Re: The Dawning of a Golden Decade

Post by Smith1776 » Sat May 30, 2020 3:04 pm

Libertarian666 wrote: ↑
Sat May 30, 2020 1:58 pm
356 pages? I'm glad I have a lot of spare time and that I read fast.
There's a notable section on silver in the second half that I was very interested to read. I've been thinking of adding some silver along with platinum and palladium to my VP.
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Libertarian666
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Re: The Dawning of a Golden Decade

Post by Libertarian666 » Sat May 30, 2020 3:29 pm

Smith1776 wrote: ↑
Sat May 30, 2020 3:04 pm
Libertarian666 wrote: ↑
Sat May 30, 2020 1:58 pm
356 pages? I'm glad I have a lot of spare time and that I read fast.
There's a notable section on silver in the second half that I was very interested to read. I've been thinking of adding some silver along with platinum and palladium to my VP.
Silver is great if you like hideous volatility.
Have I told you the story about how I bought silver on the day of the top in January 1980?
On margin.
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Smith1776
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Re: The Dawning of a Golden Decade

Post by Smith1776 » Sat May 30, 2020 3:41 pm

Libertarian666 wrote: ↑
Sat May 30, 2020 3:29 pm

Silver is great if you like hideous volatility.
Have I told you the story about how I bought silver on the day of the top in January 1980?
On margin.
Please elaborate.

That's a story we've got to hear.
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Libertarian666
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Re: The Dawning of a Golden Decade

Post by Libertarian666 » Sat May 30, 2020 6:17 pm

Smith1776 wrote: ↑
Sat May 30, 2020 3:41 pm
Libertarian666 wrote: ↑
Sat May 30, 2020 3:29 pm

Silver is great if you like hideous volatility.
Have I told you the story about how I bought silver on the day of the top in January 1980?
On margin.
Please elaborate.

That's a story we've got to hear.
I had accumulated 750 ounces of silver at prices around $5 in the mid-to-late 70's.
As I saw it going vertical in late 1979, I decided that the sky was the limit. After all, we were going to run out of silver any day now and it would probably be $500!
So I called my bank before the market opened, and told them to buy 150 more ounces on margin at the open. How could I get in trouble with only a 20% loan?
I ended up paying $48/ounce, which if I recall correctly was up about $10 from the previous day.
The price took a nosedive immediately after that. In a couple of weeks it was down to the twenties, and I got a margin call.
I had to borrow $2000 from my mother to meet the margin call.
Eventually I sold the silver at around $12 or so, probably breaking even on the whole deal.
Had I only SOLD 150 ounces instead of buying, I would have made a fair amount of money.

But I actually got something very valuable out of this mistake: I learned never to use margin.
That has stood me in good stead for the last 40 years.
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Hal
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Re: The Dawning of a Golden Decade

Post by Hal » Sat May 30, 2020 6:51 pm

Smith1776 wrote: ↑
Sat May 30, 2020 3:04 pm
Libertarian666 wrote: ↑
Sat May 30, 2020 1:58 pm
356 pages? I'm glad I have a lot of spare time and that I read fast.
There's a notable section on silver in the second half that I was very interested to read. I've been thinking of adding some silver along with platinum and palladium to my VP.
Probably would be worthwhile watching this.

https://www.youtube.com/watch?v=r2iK5NI37Iw
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Smith1776
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Re: The Dawning of a Golden Decade

Post by Smith1776 » Sat May 30, 2020 8:12 pm

Hal wrote: ↑
Sat May 30, 2020 6:51 pm


Probably would be worthwhile watching this.

https://www.youtube.com/watch?v=r2iK5NI37Iw
Looks interesting. Thanks!
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Re: The Dawning of a Golden Decade

Post by vnatale » Sun Aug 02, 2020 8:51 pm

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Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
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I Shrugged
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Re: The Dawning of a Golden Decade

Post by I Shrugged » Mon Aug 03, 2020 6:24 pm

I would not pay much attention to perma-bears and the doom and gloom crowd. HB had it right, ignore the "stories".
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Re: The Dawning of a Golden Decade

Post by dualstow » Tue Mar 08, 2022 12:49 pm

Smith1776 wrote: ↑
Sat May 30, 2020 3:04 pm
Libertarian666 wrote: ↑
Sat May 30, 2020 1:58 pm
356 pages? I'm glad I have a lot of spare time and that I read fast.
There's a notable section on silver in the second half that I was very interested to read. I've been thinking of adding some silver along with platinum and palladium to my VP.
Smithers, did you?
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Smith1776
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Re: The Dawning of a Golden Decade

Post by Smith1776 » Wed Mar 09, 2022 1:26 am

dualstow wrote: ↑
Tue Mar 08, 2022 12:49 pm
Smith1776 wrote: ↑
Sat May 30, 2020 3:04 pm
Libertarian666 wrote: ↑
Sat May 30, 2020 1:58 pm
356 pages? I'm glad I have a lot of spare time and that I read fast.
There's a notable section on silver in the second half that I was very interested to read. I've been thinking of adding some silver along with platinum and palladium to my VP.
Smithers, did you?
Never got around to it. ;D
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Re: The Dawning of a Golden Decade

Post by dualstow » Wed Mar 09, 2022 7:49 am

I kinda figured you’d be talking about it by now if you had, but I was holding out hope. O0
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