Gyroscopic Investing

Smith1776 wrote: ↑Thu Apr 01, 2021 12:35 pm Hey folks. I am leaving this forum and returning to the Bogleheads forum. I no longer subscribe to Harry Browne's piddling investment theories. As such, I shall be giving away my gold to a worthy forum member.

This shall be a sword of King Arthur type of contest. The first person to DM me a video of themselves bench pressing at least 500 pounds will get all of my gold (weight belts are allowed). All you need to do is one rep.

Seriously, holding gold makes no sense. In a hyper-inflationary episode I fully expect TIPS to protect my wealth. The government always keeps its promises, and I don't expect this time to be any different. I fully trust buying protection against inflation from the entity causing the inflation. That just makes good sense. Why you people insist on holding a lump of metal with no IRR is beyond me. Haven't you read Buffett's paper?

Anyway, the past 40 years on Portfolio Visualizer shows that hyper-inflation hasn't happened in America. That's good enough logic for me to extrapolate indefinitely into the future that it's never going to happen.

Anyway, back to the Boglheads forum for me. See ya.

Smith1776 wrote: ↑Thu Apr 01, 2021 12:35 pm Hey folks. I am leaving this forum and returning to the Bogleheads forum. I no longer subscribe to Harry Browne's piddling investment theories. As such, I shall be giving away my gold to a worthy forum member.

This shall be a sword of King Arthur type of contest. The first person to DM me a video of themselves bench pressing at least 500 pounds will get all of my gold (weight belts are allowed). All you need to do is one rep.

Seriously, holding gold makes no sense. In a hyper-inflationary episode I fully expect TIPS to protect my wealth. The government always keeps its promises, and I don't expect this time to be any different. I fully trust buying protection against inflation from the entity causing the inflation. That just makes good sense. Why you people insist on holding a lump of metal with no IRR is beyond me. Haven't you read Buffett's paper?

Anyway, the past 40 years on Portfolio Visualizer shows that hyper-inflation hasn't happened in America. That's good enough logic for me to extrapolate indefinitely into the future that it's never going to happen.

Anyway, back to the Boglheads forum for me. See ya.

pp4me wrote: ↑Thu Apr 01, 2021 1:47 pm R U morphing into another tomfoolery?

Smith1776 wrote: ↑Thu Apr 01, 2021 12:35 pm Hey folks. I am leaving this forum and returning to the Bogleheads forum. I no longer subscribe to Harry Browne's piddling investment theories.
<snip>
Anyway, back to the Boglheads forum for me. See ya.

Hal wrote: ↑Thu Apr 01, 2021 4:28 pm

Smith1776 wrote: ↑Thu Apr 01, 2021 12:35 pm Hey folks. I am leaving this forum and returning to the Bogleheads forum. I no longer subscribe to Harry Browne's piddling investment theories.
<snip>
Anyway, back to the Boglheads forum for me. See ya.

There are still vacancies at the Easter BogleHeads Re-education Camps Looks like Smithy really enjoyed his visit.
They do calisthenics in the mornings so you get really fit.

buddtholomew wrote: ↑Thu Apr 01, 2021 4:33 pm I have a video of me pressing 455 if that qualifies?
I did use a slingshot which accounted for 5-6% increase in weight.
True max is 435, belt only.

GT wrote: ↑Thu Apr 01, 2021 2:38 pm No thanks - past performance is not guarantee of future returns so Golds ability to retain its value of the last 10,000 years might have just been a fluke. On second thought, if I send you a DM of a video that looks to be highly edited would that still qualify

Smith1776 wrote: ↑Thu Apr 01, 2021 7:07 pm

buddtholomew wrote: ↑Thu Apr 01, 2021 4:33 pm I have a video of me pressing 455 if that qualifies?
I did use a slingshot which accounted for 5-6% increase in weight.
True max is 435, belt only.

If no one beats your 435 lbs. by 11:59pm PST tonight you are the winner.

Kriegsspiel wrote: ↑Thu Apr 01, 2021 8:00 pm

Smith1776 wrote: ↑Thu Apr 01, 2021 7:07 pm

buddtholomew wrote: ↑Thu Apr 01, 2021 4:33 pm I have a video of me pressing 455 if that qualifies?
I did use a slingshot which accounted for 5-6% increase in weight.
True max is 435, belt only.

If no one beats your 435 lbs. by 11:59pm PST tonight you are the winner.

budd's got me by a good bit, the most I've benched recently is 315 for a double. I guess he gets all the gold

I'll have to settle for all of your silver unless another forumite is more swole.

Smith1776 wrote: ↑Thu Apr 01, 2021 7:23 pm

GT wrote: ↑Thu Apr 01, 2021 2:38 pm No thanks - past performance is not guarantee of future returns so Golds ability to retain its value of the last 10,000 years might have just been a fluke. On second thought, if I send you a DM of a video that looks to be highly edited would that still qualify

Yes.

Smith1776 wrote: ↑Thu Apr 01, 2021 12:35 pm
Hey folks. I am leaving this forum and returning to the Bogleheads forum. I no longer subscribe to Harry Browne's piddling investment theories. As such, I shall be giving away my gold to a worthy forum member.

This shall be a sword of King Arthur type of contest. The first person to DM me a video of themselves bench pressing at least 500 pounds will get all of my gold (weight belts are allowed). All you need to do is one rep.

Seriously, holding gold makes no sense. In a hyper-inflationary episode I fully expect TIPS to protect my wealth. The government always keeps its promises, and I don't expect this time to be any different. I fully trust buying protection against inflation from the entity causing the inflation. That just makes good sense. Why you people insist on holding a lump of metal with no IRR is beyond me. Haven't you read Buffett's paper?

Anyway, the past 40 years on Portfolio Visualizer shows that hyper-inflation hasn't happened in America. That's good enough logic for me to extrapolate indefinitely into the future that it's never going to happen.

Anyway, back to the Boglheads forum for me. See ya.

Smith1776 wrote: ↑Fri Apr 02, 2021 12:35 pm Alright! The results are in! Winners of the contest are:

1. Budd @ 435 lbs - gets all of my gold
2. Kriegs @ 315 lbs - gets all of my silver
3. GT with video / WiseOne @ 30 lbs tied for third place - get all of my bitcoin split half-half

Thank you everyone for participating in this year's April Fool's Bench Press Day!

WiseOne wrote: ↑Fri Apr 02, 2021 4:45 pm Awesome! How much bitcoin did I win?

Quick before it's no longer April 1.....oops dang it isn't!! Oh well. Smith, welcome back to the forum :-).

buddtholomew wrote: ↑Fri Apr 02, 2021 2:39 pm Does the gold transfer at current price or am I required to pay capital gains based on your cost basis? Maybe 25% for the next 4 years if it’s a taxable event to me