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Old 12-01-2005, 11:53 AM   #3 (permalink)
BigBen
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Quote:
Originally Posted by Rodney
...I'm not buying gold to get rich; as an investment, long term, it isn't all that great. But I'm buying it as insurance against a fall in the dollar, to be held for no more than five years. If the economy straightens out and all is well and I lose a little on the gold -- well, I expect insurance to cost money. But if the dollar doesn't straighten out, I've got a hedge. And as somebody who's a lot closer to retirement age than to legal drinking age, capital preservation is something you gotta think about. I just never thought the economy would get to the point where I'd have so little faith in the dollar.

What are your thoughts on gold, or the dollar?
Well said, sir. Very well said.

I think that everyone should keep SOME gold or precious metal/stones in their portfolio. Having said that, I have to say that the investment is worthless unless you are HOLDING THE PHYSICAL GOOD.

I see people with stocks of gold (or stones) in their folios, but don't have posession of the gold. They are fooling themselves, ans more often than not the folks are in a hedge fund or a futures market without knowing it.

When you are putting down money for a rock-solid insurance like this, make sure that the gold is in YOUR HOUSE, and that it is insured against theft/fire/et cetera.

If you need gold because something bad happened and you are using it as a bargaining tool, remember to have it with you, not in a safe-deposit box down the street.

You said you aren't one of those survival guys, so it sounds like you don't take it that far, but please take a second look at your investment and look to make sure that the date of delivery is IMMEDIATE. Anything other than that, and you are playing the market like the rest of us suckers, and the investment isn't that great as far as a rock-solid insurance thing goes.

If you are scared of the US dollar, might I suggest that you look at an EXPORT HEAVY portfolio. As the dollar weakens, US export goods become cheaper relative to the world market, and exporters do very well. A simple advisor will be able to tell you what funds are export heavy. That way, you can also feel good about having your money in your native land and providing jobs locally. I swear, people are concerned about stuff like this, and they feel guilty in just buying Euros and the like.

To each his own. I keep a very limited quantity of gold on hand, and I make sure the denominations are workable and small. (1/16 troy oz, up to 1oz.). If I have to barter for something, I will give the small gold wafer over in its pretty little package, instead of risking getting screwed on a deal. Gold holds intrinsic value, and will outlast any country, currency or market.
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