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Author | Topic: Why There Are Gold Bugs & Silver Stackers | |||||||||||||||||||||||||||||||||||||||||||
Percy Member Posts: 22947 From: New Hampshire Joined: Member Rating: 6.9
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I've probably told this story before, but anyway, I used to manage my own stock portfolio. I did all my own research and made all the decisions about when to buy and sell. After about 10 years I was totally disgusted with how badly I'd done and completely abandoned the effort. Whatever stocks I owned when I quit just sat there, untouched. I didn't check broker statements or notices of shareholder meetings or annual reports or anything. I just dropped the whole business.
About 20 years later as retirement was getting closer and it was time to start managing our money better I finally took a look at my old stock account. It had done fantastic! Ignoring it and doing nothing was the best strategy. --Percy
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dwise1 Member Posts: 6076 Joined: Member Rating: 7.2
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Reminds me of the conventional wisdom imparted to us in one of our company's HR presentations for its retirement fund programs.
The stock market fluctuates, going up and down every day, even every hour and several times an hour. However, overall the market goes up. If you react to every single fluctuation, you'll be buying and selling constantly (and each transaction costs a fee, if I recall correctly). But if you just sit on it and ride out those fluctuations, then it will increase, as a general rule. Similarly, when it was finally offered, I bought into 401(k) contributions, increasing them as my pay increased until I was finally making the maximum percentage contribution. Then I just ignored it for the next 22 years. I didn't look at it until I was nearing retirement and I was surprised to see that it had increased forty-fold, leaving me much more than comfortable.
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Theodoric Member Posts: 9489 From: Northwest, WI, USA Joined: Member Rating: 6.1
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mine is up about 12%. But my argument stands. Impossible to tell what is attributable to inflation.
What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens Facts don't lie or have an agenda. Facts are just facts "God did it" is not an argument. It is an excuse for intellectual laziness. If your viewpoint has merits and facts to back it up, why would you have to lie?
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Theodoric Member Posts: 9489 From: Northwest, WI, USA Joined: Member Rating: 6.1
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I stopped working 20 years ago. I rolled my 401k over into an IRA and never touched it. I am surprised by its value. My wife has contributed to her 403b's for 20 years. As she had a high income she has a lot put away. We also have a set amount taken out of our checking account every month. She turns 55 in 8 years. We need to have enough for her to retire then. I don't want to be dead or old and decrepit when she retires.
What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens Facts don't lie or have an agenda. Facts are just facts "God did it" is not an argument. It is an excuse for intellectual laziness. If your viewpoint has merits and facts to back it up, why would you have to lie?
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Tanypteryx Member Posts: 4597 From: Oregon, USA Joined: Member Rating: 9.7
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We just put our IRAs in certificate accounts that pay over 5.5%. Funny, high interest rates don't matter to me anymore since we don't borrow money anymore.
Stop Tzar Vladimir the Condemned! What if Eleanor Roosevelt had wings? -- Monty Python One important characteristic of a theory is that it has survived repeated attempts to falsify it. Contrary to your understanding, all available evidence confirms it. --Subbie If evolution is shown to be false, it will be at the hands of things that are true, not made up. --Percy The reason that we have the scientific method is because common sense isn't reliable. -- Taq Why should anyone debate someone who doesn't know the subject? -- AZPaul3
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Theodoric Member Posts: 9489 From: Northwest, WI, USA Joined: Member Rating: 6.1 |
Also we all know Phat has no actual facts and figures. He pulled the 25% figure out of his ass.
What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens Facts don't lie or have an agenda. Facts are just facts "God did it" is not an argument. It is an excuse for intellectual laziness. If your viewpoint has merits and facts to back it up, why would you have to lie?
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Phat Member Posts: 18649 From: Denver,Colorado USA Joined: Member Rating: 4.3 |
Theo writes:
Several questions.
Bullshit. Provide facts and figures. Anecdotes are not evidence. Comparing grocery bills year to year to come up with some sort of inflation rate is stupid. People's tastes change, they change diets. There are regional issues.As for the rest of the crap you spout. Look up deflation. YOu are wrong about gold. The same could be said about any other metal commodity. None of them are bedrocks. You are the mark every scammer is looking for. This may or may not be helpful.
quote:Now as to your request that I understand deflation, note that I am well aware that the Great Depression was a deflationary depression. Many well-schooled people * not affiliated* with either the government dept. of the treasury or the Federal Reserve expect any future recessions or depressions in this era to be inflationary or even briefly hyperinflationary rather than deflationary. Silver Prices: XAG/USD Showcases Strength Amid Inflation Fears The U.S. Military uses a lot of silver! While the exact amounts needed are classified, the point is that silver is an industrial metal with lots of uses as well as a historic store of "value". In conclusion, I respect Taqs argument that precious metals should be a part of a balanced portfolio. Experts recommend 5-10%.
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Phat Member Posts: 18649 From: Denver,Colorado USA Joined: Member Rating: 4.3 |
Theo writes:
Also we all know Phat has no actual facts and figures. He pulled the 25% figure out of his ass.
So what? CNBC has a good article you might take notice of.
Gold prices could keep climbing — but analysts expect silver to steal the show before long You fancy yourself a wise and prudent investor and I have no qualms with that. You have done well in the past when I was a fool who gambled. Don't think for a minute that I only listen to rubes and shysters. I may have been born at night but *not* last night!
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Theodoric Member Posts: 9489 From: Northwest, WI, USA Joined: Member Rating: 6.1 |
This whole post does not address anything I stated. Modern monetary theory is irrelevant. This is just another strawman and gish gallop from you. If you want to discuss the actual subject fine. If you want to troll I am done
What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens Facts don't lie or have an agenda. Facts are just facts "God did it" is not an argument. It is an excuse for intellectual laziness. If your viewpoint has merits and facts to back it up, why would you have to lie?
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Theodoric Member Posts: 9489 From: Northwest, WI, USA Joined: Member Rating: 6.1 |
Irrelevant. So you admit the 25% claim is bullshit.
What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens Facts don't lie or have an agenda. Facts are just facts "God did it" is not an argument. It is an excuse for intellectual laziness. If your viewpoint has merits and facts to back it up, why would you have to lie?
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Phat Member Posts: 18649 From: Denver,Colorado USA Joined: Member Rating: 4.3 |
No.
You can give 5 forcasts for inflation numbers...all of them by relevant degree bearing individuals and still not arrive at a precise and correct number. Numbers are elusive and can be manipulative. I'm not saying that our current government gives out false or misleading information. Im saying that nobody knows the actual number.| As another example: I have heard that the dollar has lost 97% of its purchasing power, but I am unclear what the numbers mean and if they are accurate. (since 1888) If that number is true, Golds value in 1888 should be at the very least 97% higher and in fact is much more than that. Gold does not ever decline in value. It only declines in value relative to fiat currencies. The question is which train is actually moving and which train is standing still?
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Theodoric Member Posts: 9489 From: Northwest, WI, USA Joined: Member Rating: 6.1 |
Again. Irrelevant. I was calling Bullshit on your 25% claim.
What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens Facts don't lie or have an agenda. Facts are just facts "God did it" is not an argument. It is an excuse for intellectual laziness. If your viewpoint has merits and facts to back it up, why would you have to lie?
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Phat Member Posts: 18649 From: Denver,Colorado USA Joined: Member Rating: 4.3 |
Quit trying to frame the issue(s). In my opinion, you are not yet done. You are roughly medium rare.
Theo writes:
Remind me what the actual subject is again? Oh that's right...I started the topic! Lets see...
If you want to discuss the actual subject fine.quote: Taq writes: I would look into the idea that the stock market is propped up and that some companies buy their own stock. I also have heard that the FED itself plays around with money and numbers. I can see Theo looking at me now demanding hard data...so I best get busy finding some.!
I would fully agree that stocks do come with risk, but the fact they are bought and sold in dollars is not why they are risky.Theo writes: Does everyone believe that? What is it precisely that we have "faith" in? The faith and credit of the United States of America is the best backing any currency could have. I have heard that if faith in the treasury and credit markets was ever shaken and that mass of money found no safe haven except Gold, the value of Gold would momentarily reach $60,000.00+ per ounce.What would Biden do then? Confiscate it all like FDR did? Theo writes: OK. I challenge you to verify the official government numbers! How do you propose to do that?
So your "personal observation" is more valid than verifiable facts and data points? Theo writes: If I did, would you only trust the figures if they made your anxiety less? If the source had a "relevant degree"? Whatever the frack that means! Bullshit. Provide facts and figures. Anecdotes are not evidence.Answer my question.
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Theodoric Member Posts: 9489 From: Northwest, WI, USA Joined: Member Rating: 6.1 |
Done feeding the troll. Just a Gish gallop with no responses to actual arguments made.
What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens Facts don't lie or have an agenda. Facts are just facts "God did it" is not an argument. It is an excuse for intellectual laziness. If your viewpoint has merits and facts to back it up, why would you have to lie?
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Percy Member Posts: 22947 From: New Hampshire Joined: Member Rating: 6.9
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Theodoric in Message 29 writes: Just a Gish gallop with no responses to actual arguments made. More like the mystifying musings of a man in the midst of a mania that makes him manufacture a morass of misapprehensions from YouTube. --Percy
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