DGL and GOLD
DGL and GOLD. Remember when SiriuslyWrong bragged about how much money he was making
on these bets? Remember his bets on penny stocks?
Why is it that those lecturing others about debt and financial responsibility are often the biggest gamblers? Imagine putting them in charge of the govt. lmfao.
Yeah, I'm only up 13.87% now on my remaining shares of DGL. Should have cashed out at 25%. Oh well.
High for the year was 66.80. You watched it go down 20%. so far. You could have made a lot
of money on the upswing of the market investing in other areas.
How much you still up on gold? You really should have followed George Soro's lead. Oh well. :)
P.S. Still gambling on penny stocks?
Gold went from $1.900 to $1,544. almost 25% down.
Poor Mr. Schiff (your favorite "economist"). He bet that gold will rise to $12,000.00 within the next 2 years or the Dow will hit 1,400. Hope your not still following his advice (Austrian economic model) on this or anything else (dollar, inflation etc.).
So you think I should sell now?
The fear of Greece defaulting is driving all commodities down. What would Buffet do?
What would Mr. Schiff do? lol. As i have said repeatedly: Whatever he would do,
do the opposite and you will be in good shape. Remember he was calling for the
rising of commodity prices, the falling of the dollar and the rise of HYPERINFLATION.
I know its painful for you to admit but he has been wildly wrong (i have presented extensive evidence) about the vast majority of his predictions.
What was the price you bought the gold at?
Obviously if you had followed Soros's trail you would have come out quite well.
Buffett would never put a large % of his portfolio in gold and gold related ETF's.
I dont know if he has any gold.
The other day he came out with his latest stock buys and sells. Check it out online.
Maybe you should sell the gold and put it into Liberty. Buffett just bought some. :)
P.S. I should have added: keep a little gold (5% or less of your portfolio) for the distant future.
Yes, Lloydie, Schiff has been wrong on hyperinflation. Thanks for the obvious, and it doesn't "pain me" the least bit. As I have said numerous times (to no avail) I don't hang my hat on everything he says. I can take the hyberbole and separate it from the interesting stuff. Recall the discussion where you finally recognized that ever increasing debt in unsustainable? Remember how you avoided the basis for Schiff's so called "predictions"? Remember how you actually agree with Schiff that ever increasing debt is unsustainable because that is the basis of his predictions? Remember how you then sulked off saying "goodbye" like a little sissy boy because you were upset that you actually agreed with Schiff (a republican) that there could be ramifications for ever increasing debt?
Originally Posted by Havakasha
What price did I buy DGL? Would have to look it up. Suffice to say, if I were up 13.87% (yesterday) and you looked at the price, you could calculate it (if you knew how to).
Liberty might be a good investment. SIRI certainly is taking a hit. Talk about "should have sold."
Mr. Schiff was wrong on WAY more than hyperinflation. Thats the point. No matter how hard you try you somehow cant be completely honest about our discussions about his past predictions.
Ah, just like clock work, the insults come when your economic theories and theorists look fallible.
Just answer basic questions instead of acting so petulant. It demeans you.
EVERYONE has always had an understanding that increasing debt is unsustainable. The point is how and when we tackle the debt. Obviously we disagree when it comes to the timing, quantity and specific policy prescriptions.
You said you should have sold DGL at 25% profit. I was simply stating that DGL is down 20% from its height so in actuality you should have sold at 33.87% profit. That is if you really are up 13.87% as of now. I can figure out any math you want. The silly insults are beneath you.
I understand your frustrated with your investing choices at this point in time.
I dont know what % of your investments you have in gold and or gold related stocks. You only seem to talk about DGL and gold stocks (other than siri) so I assume its quite high, If so i suggest you re-allocate.
Yes. Siri is taking quite a hit. Didnt expect that. Im still holding for the long term though i sold some and put it into Liberty.
Soros, Eton Park Raised Gold ETP Holdings Before Price Drop
Billionaire investor George Soros increased his holdings in the SPDR Gold Trust in the first quarter while John Paulson maintained his stake, the fund’s largest, before bullion prices erased gains for the year.
Soros Fund Management more than tripled its investment in the largest exchange-traded fund (GLD) backed by bullion to 319,550 shares, Securities and Exchange Commission filings reflecting holdings in the three-month period showed yesterday. Eric Mindich’s Eton Park Capital also bought shares, while Paulson & Co. kept its investment at 17.3 million shares.
Gold has tumbled 7.9 percent since March 30, poised for the biggest quarterly loss since 2004, as a political impasse in Greece drove investors to buy the dollar as a haven. Reports signaling improving U.S. economic growth have damped expectations that the Federal Reserve will embark on another round of debt buying, or quantitative easing. Prices climbed 6.7 percent in the first quarter amid speculation that the Fed would take more steps to shore up expansion.
“People were more upbeat about the economy, and because of expectations of QE3, we saw money flow into riskier assets including equities, commodities and precious metals,” said Michael Gayed, the chief investment strategist in New York at Pension Partners LLC, which advises on more than $150 million in assets. “Things, of course, took a completely different turn in the past few weeks.”
Continue on and read about Europe: http://www.businessweek.com/news/201...ore-price-drop
So in other words. Soros bought low and sold high. Now he is buying low again. Sounds like you should have followed his path.
How is that a "marxist" like him is so steady and solid in his investing? lol
You still havent answered what % of gold and gold stocks your portfolio is made up of? You still havent answered what price you bought gold at and DGL at (you really should know that later price by heart in my opinion) What % of his portfolio is made up of gold? It would be interesting to find out. My quess is that its way less than you. My quess is that its below 5%.