Precious Metals - Invest now?

[KB]

I agree with Warren Buffet on gold:
http://www.nasdaq.com/article/why-warren-buffett-hates-gold-cm267928

I avoid it because it isn't productive (doesn't do anything but sit there, pays no dividends, doesnt increase capital), it has limited industrial value (some electronics are plated with it, but not much) and it is inconvienent to sell (unless its paper gold). Even in SHTF situations it isn't very useful since its heavy and hard to break-up. I would rather have food, water, bullets and booze over gold. IF we ever had a SHTF people will be trading cans of tunafish before they exchange gold.

 

[DaveSimmons]

Even in SHTF situations it isn't very useful since its heavy and hard to break-up. I would rather have food, water, bullets and booze over gold. IF we ever had a SHTF people will be trading cans of tunafish before they exchange gold.

Exactly. Guns, ammo, food, stimpacks, . . . . and bottle caps

 

[Jeff7]

Repeat after me:

Previous metals are fiat currency, no different than paper money. They have value only because someone says they have value.

This.

"No, but gold matters! It does real things!"

Just like aluminum. It was incredibly valuable and expensive, something that extremely wealthy people used for their "special-occasion" dishes. Until some jerk figured out how to cheaply separate it from its ore, and it turned into something so cheap that people will throw away an aluminum can without a second thought.

Gold is still scarce, at least with what we know about physics now.
"Oh cool, we use a Higgs-neutrino field on these atoms, and we can then accelerate them to 0.999999c with about 0.0005% of the energy needed before. Watch as I create gold atoms from carbon, a full pound per hour!"

or

"This room-temperature superconductor material is a little bit cheaper than copper, can be drawn into wires or used on electrical contacts, and it is sufficiently inert that it easily resists oxidation."


Not likely. But then, a fits-in-your-pocket laser was also science fiction nonsense just several decades ago.

 

[edro]

The fund I show in the OP is actually a fund of 41 Mining Companies.
Their profits increase when precious metal value increases, so it tracks decently.

 

[DaveSimmons]

The fund I show in the OP is actually a fund of 41 Mining Companies.
Their profits increase when precious metal value increases, so it tracks decently.

That's still a dangerous bet in a single sector, vs. an S&P 500 or total stock market fund that covers everything from gold to iPads. If you don't time the market properly you could lose big.

It's easier, safer and lower-stress to put your retirement money into broad market index funds and ignore them. No worries about picking the right time to buy or sell, just take a decades-long view of them.

 

[Oyeve]

I had about 30 ounces of gold. I sold it in 2009 or 2010 for something like 1800 an ounce. I had gotten the gold in the 80s when it was like 300 or so an ounce.

 

[ultimatebob]

I remember that, the sucker was like 18 inches long and had 4 fans on it IIRC.

It had four fans because it had four friggin processors on it! It also needed it's own external power supply

 

[ultimatebob]

is there a vanguard fund for bitcoin?

I believe that someone is doing a Bitcoin hedge fund, although you might be better off taking your retirement money to the casino and betting in all on black

 

[dr150]

You are crazy

...Also invest in Bitcoins to properly complete the circle of stupidity. :thumbsup:

 

[Noirish]

The fund I show in the OP is actually a fund of 41 Mining Companies.
Their profits increase when precious metal value increases, so it tracks decently.

I bought this fund recently near its low point so I am still up. I am not going to hold it long term, but I think it has some potential. Its components are not very diversified. There is a lot of daily price fluctuation. It's just a small investment for me.

You are responsible for your own money. Invest at your own risk.

 

[feralkid]

Screw metals. I'm going to invest in services for seniors. When all the boomers retire, it's going to be a booming industry.

You're already late.