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Thread: On the downhill slope.

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  1. #1
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    Mr. FreedomUIC to you!

    Jan 2010
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    On the downhill slope.

    Seems everything is taking a hit this morning. Silver has been steadily declining this past week and it seems it is gaining some momentum.

    I have giving up trying to predict and resorted to just buying as much as I can when I can.....
    [R.I.P. Rich Hartford - Champion CRH of All Time]

  2. #2
    LM
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    I like finding stuff

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    Quote Originally Posted by FreedomUIC View Post
    I have giving up trying to predict and resorted to just buying as much as I can when I can.....
    Permabull thinking.

    When it's going down, it's opportunity to buy more.
    When it's going up, it's proof of concept and you'd better buy more before it goes even higher!

    While all sorts of guys spent their time hording little metal discs that have since lost about 40% of their value, some of the most mind-blowing opportunities in equities and real estate have passed them by. I realize metals investing is dead simple and 'pleasingly tangible' but relative to the other opportunities out there in this world, its one of the dumber places to be putting your money.
    lastleg likes this.
    "There comes a time in every rightly-constructed boy's life when he has a raging desire to go somewhere and dig for hidden treasure..." - Twain

  3. #3
    us
    Jan 2012
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    Quote Originally Posted by LM View Post
    Permabull thinking.

    When it's going down, it's opportunity to buy more.
    When it's going up, it's proof of concept and you'd better buy more before it goes even higher!

    While all sorts of guys spent their time hording little metal discs that have since lost about 40% of their value, some of the most mind-blowing opportunities in equities and real estate have passed them by. I realize metals investing is dead simple and 'pleasingly tangible' but relative to the other opportunities out there in this world, its one of the dumber places to be putting your money.
    It goes in cycles. You could say the same thing about real estate. For years my father in law (who was a real estate agent) told me to buy as much house as I could get a loan for because housing prices were going up by 7% a year. The good news is that I ignored him and bought a house that I could afford. That house has been paid off for quite a while now. It's simply not possible for all housing prices to continue to go up by 7% a year every single year over a long period of time without there eventually being a massive correction. As you can plainly see, there were LOTS of "permabulls" out there in the real estate market who lost 40% when the housing market crashed. Some of them continued buying real estate all the way down and lost their shirts. Others waited for the bottom and have now picked up some decent deals that COULD make them money in the future IF they bought the right properties. Wait..... does this sound familiar at all?
    Last edited by TreasurePirate69; Aug 02, 2013 at 07:27 AM.

  4. #4

    Apr 2008
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    Quote Originally Posted by LM View Post
    Permabull thinking.

    When it's going down, it's opportunity to buy more.
    When it's going up, it's proof of concept and you'd better buy more before it goes even higher!

    While all sorts of guys spent their time hording little metal discs that have since lost about 40% of their value, some of the most mind-blowing opportunities in equities and real estate have passed them by. I realize metals investing is dead simple and 'pleasingly tangible' but relative to the other opportunities out there in this world, its one of the dumber places to be putting your money.
    Sounds like something someone would say who decided to buy PMs in 2008 at the peak. If someone had foresight and bought PMs in 2001-2006 or so, they would be way ahead today, even after the downtrend. I bought my first gold Krug at 600 and silver eagle at 12 in 2006 or so.

    If you bought stocks in 2006-2007 you would be breaking even or so now after the great crash in 2007, depending on what your specific holdings are. If you bought real estate in 2006 (I almost did), you'd still be underwater, at least where I live.

    Jim
    R.I.P. Rich Hartford

  5. #5
    us
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    Looks like the July jobs report has caused a huge spike in prices anyway so it appears to be a moot point.

  6. #6
    us
    Mar 2009
    A Place In Heaven
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    PM's going up next week, trust me. Lol

  7. #7

    Apr 2008
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    Quote Originally Posted by LM View Post
    No, I never paid attention to precious metals.
    I bought real estate in 2010, 2011 and 2012 when it was being given away. It's turning out to have been a once in a lifetime opportunity.
    Likewise, when the world was crashing in 08 and 09, I was buying equities with every dollar I could lay my hand on. I started scaling out this year.

    Believe it or not, some people approach this process intelligently and with little regard to 'what everyone else is doing'.
    Probably the lowest caliber 'investor' there is is the person who spastically hordes coins for their 'metal value' hoping that market gyrations will get them double in a year or two. Hell, you could've done that with facebook shares in a couple days time, last week.

    Anyway, I've learned that there's no point trying to 'reason' with people who engage in such behaviors but I will say this. If your 'precious metals investing' doesn't have a fully defined exit plan, then you're not 'investing'. You're just hording and all this pain you've endured over the past year will be regularly repeated. Surrounding yourself with a bunch of like-minded 'believers' shouting hallelujah-gold doesn't get you an inch closer to actionable insight.

    LM,

    Since you seem to be so good at finding the right investments at the exact bottom, please tell us what the smart bet is for the next 1-3 years. The reason I ask is that, about every month or so someone like you drops in, and tells us PM bugs how foolish we are, yet they never tell us what the next smart investment will be.

    Such persons like you were nowhere to be found when gold and silver were posting yearly gains for over 10 years in a row (unlike the stock market and real estate). But when we have a couple of down years, a bunch of "I told you so" folks come out of the woodwork, much like you did.

    I am sure an "intelligent investor" like you can help all of us imbeciles make something out of our sorry, pitiful lives. Thank you in advance for helping me make better investments and for saving me from myself.

    Sincerely,

    Jim
    R.I.P. Rich Hartford

  8. #8
    us
    Eminem AKA Marshall Mathers AKA Slim Shady AKA B-Rabbit AKA Rap God AKA the G.O.A.T

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    Quote Originally Posted by jim4silver View Post

    LM,

    Since you seem to be so good at finding the right investments at the exact bottom, please tell us what the smart bet is for the next 1-3 years. The reason I ask is that, about every month or so someone like you drops in, and tells us PM bugs how foolish we are, yet they never tell us what the next smart investment will be.

    Such persons like you were nowhere to be found when gold and silver were posting yearly gains for over 10 years in a row (unlike the stock market and real estate). But when we have a couple of down years, a bunch of "I told you so" folks come out of the woodwork, much like you did.

    I am sure an "intelligent investor" like you can help all of us imbeciles make something out of our sorry, pitiful lives. Thank you in advance for helping me make better investments and for saving me from myself.

    Sincerely,

    Jim
    Ever consider putting it under your mattress?? Seems pretty cozy down there
    lastleg likes this.

  9. #9
    us
    Jan 2012
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    Quote Originally Posted by LM View Post
    Right now, the market is pretty overvalued. I am not deploying much capital at this time, save for a few momentum trades.
    I have no interest whatsoever in giving 'coin horders' investing advice since it's pretty damn unlikely 1 in 50 of you even have a brokerage account or know how to place a call order. I'd bet the average number of coin horders who have something like a 'debit card' is a good bit lower than the population at large.

    I sure wish I had bought my stuff at the 'exact bottom'. Would be making a lot more than I am right now, but yeah... When banks started flinging off REO homes for 1/5th their pre bubble value at insanely tasty CURRENT rent multiples, I got in. When F was at $2 a share? In like Flynn. Rode it back up to 12. I think it's at 17'ish right now.

    Understanding the 'value' concept is critical to winning. Buying metals when they're low, middle and high, tehn buying them back down, then buying them back up, doesn't punch your ticket to that dance. No offense, but trying to explain sound investing principles and how to spot bargains to a bunch of metals hording jug tooters would be like trying to teach a monkey to play the piano, so I won't bother.

    I will, however, note that even a musical monkey should be able to see that when your strategy is "BUY, ALWAYS!", it's a pretty stupid strategy.
    There are many of us that have equity accounts, 401k's, bonds, AND precious metals. Many of us have done well on our precious metals AND have done well on the stock market. I just actually got done making an easy $15K on my 3000 shares of Sprint stock. Sold it around the high at $7.20 and bought it last year at $2.60.

    It's easy to sit around and claim that you are a genius because you made a couple of good trades/investments. But I'm NOT a genius despite the fact that I've done well over the years in a wide variety of investments. And yes, I hoard coins. Why? Because diversification is very important. I also just like looking at gold, silver, copper, and even nickels.

    By the way.... if you haven't sold those properties yet and are not renting them you haven't made squat. Many investors count their chickens way too early. Although I agree on many of the points you've made, your demeaning attitude makes it awfully hard for me to want to back you. This is an attitude that I have taken many times out here and have paid for it. If you want to get your message across, perhaps you might try a slightly different tact. Although there are many out here who disagree with us, there are also many out here who are much smarter than we could hope to be.

    For the record, many people who bought those "insanely tasty properties" also chose wrong and lost their shirts. Getting a good deal on a property usually happens for a reason. I personally have no desire to get into real estate. I have relatives that have done VERY well in real estate over the years and others who have lost a lot of money thinking that some distressed property was going to make them rich. To each his own I guess.

    I wish you the best of luck in your investments. You may need it...
    Last edited by TreasurePirate69; Aug 03, 2013 at 06:36 PM.
    Marchas45 likes this.

  10. #10
    us
    Mar 2009
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    LMAO I am in real estate and if you are buying right now and INVESTING I feel sorry for you as I see it heading down shortly. Sure the sales are up but as I've said before $400,000.00 homes are selling for $200,000.00 As for PM's I'm Stacking not Hoarding and I'm not INVESTING in PM's but STACKING for SURVIVAL. O! I forgot I'm also a PREPPER. LMAO

  11. #11

    Sep 2012
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    LM, my only question is, If you hate PMers so much, why are you trolling their page of the board? You must have just wanted to be a troll and try to make yourself feel superior to others. Thanks for sharing what you consider your wisdom. Now get lost again.
    Modest Goals for 2013

    1/1 40% Ikes
    73/100 40%er halves
    10/20 90%er halves
    1/10 quarters
    4/50 dimes
    0/30 war nickels

  12. #12

    Apr 2008
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    You can almost set your watch for when one of these types will show up. Reminds me of my old days posting in the CRHing forum.

    Take one part insults, one part lack of substance, throw in a few calls about price movements that have already happened so you can look smart (like perhaps you actually profited from those past movements) and add a dash of complete lack of future predictions and you have it. I am sure we will have more like this in the future, although when/if the price breaks up they will disappear until the next correction.

    If someone wants to be bearish here that is great, in that it is nice to have balance with all of us PM "perma bulls". But with the exception of our friend TreasurePirate, none of the bearish type posters can make any cogent argument why PMs are a bad investment and/or what would be a good alternative right now.

    Just my opinion.

    Jim
    Last edited by jim4silver; Aug 04, 2013 at 10:01 AM.
    R.I.P. Rich Hartford

  13. #13
    us
    Mar 2009
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    Boy you sure are a nasty person. As a matter of fact I've been in real estate for 22 years and I am a Broker and pretty knowledgeable in my field and well respected. As for discussing anything with you in the future that is not happening. Go find some treasure. O! I forgot, you did. REAL ESTATE hope your ass gets burned. I'm really sorry but you are the first person on this site that has really pissed me off with your arrongancy hence my hateful attitude towards you. Go buy some more investments TROLL.

  14. #14
    us
    Jan 2012
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    LM has multiple problems.

    1) He is a "binary thinker". He believes the world is only black and white. He can't fathom that people could invest in PM's AND invest in equities, real estate, and the like. He thinks that if you aren't a genius then you must be stupid. He thinks that a "prepper" couldn't also be a real estate magnate. He believes in mystical "magic numbers" at which all the planets align. He can't understand that the world is not black and white. Instead, the world is made up of a whole spectrum of colors. This of course is a very sad way to go through life as it clouds your judgement and keeps you from seeing the bigger picture.

    2) He is a troll.

    And he is now on ignore because there is no reason to feed a troll....

  15. #15

    Apr 2008
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    Quote Originally Posted by Marchas45 View Post
    Boy you sure are a nasty person. As a matter of fact I've been in real estate for 22 years and I am a Broker and pretty knowledgeable in my field and well respected. As for discussing anything with you in the future that is not happening. Go find some treasure. O! I forgot, you did. REAL ESTATE hope your ass gets burned. I'm really sorry but you are the first person on this site that has really pissed me off with your arrongancy hence my hateful attitude towards you. Go buy some more investments TROLL.

    Don't let it get you pi$$ed Charlie. I myself have fallen for such antagonistic posts in the past and it is not worth it. You'll be the one laughing someday when your "hoarding" pays off.

    Jim
    R.I.P. Rich Hartford

 

 
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