jw7

Unbelievable.

I had stop losses on all my GLD to protect my profits and they all executed today.

I kind of love and hate E*trade b/c they double charged me twice on the stop loss. Once for the protection and again for the execution. My fault. I should read fine print better.

Well now I have a bunch of cash and no idea where to go from here. Stock market sucks, fixed income sucks, real estate sucks.

Gonna have a fun time with my 1040 this year, but all my GLD was over 1 year so I get the low long-term capital gains tax only.

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Dback Jon

You could use some of that to sponsor my softball team

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R.I.P Tim Minnick

The KING of Cards

jw7

LOL! I don't think so. Is this for a charity or something?

AZHS got another donation today, though.

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thirty-two

You could pay off my credit card debt and I would pay you back a fixed monthly payment with 0% interest.

Or just donate to the AZHS, that sounds like a better option

I have no other advice, sorry!

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Rest in peace, Skkorp. We'll never forget you.

jw7

Well that will happen about 10 mins after I get done putting super-unleadied in a rental car.

What happened to the Dave Ramsey thing? I thought you were on the right track?

I did and got a nice reply from them. They take in 44K animals per year, perform 22K free spay/neuters and take zero public money. All just done from donations. My favorite charity. I'll probably donate more soon. 1 pet per year re-homed is my small contribution.

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LVG

Not just Gold, all PM's tanked.

Gold from 1780.50 to 1657.20
Sliver from 39.62 to 30.93
Platinum from 1761.00 to 1608.00
Palladium from 693 to 634

Personally, I think there's a buying opportunity and plan to jump in quickly. I think prices will rebound.

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RISE UP DARK SIDE

"The problem with quotes on the Internet is that it is often difficult to verify their authenticity." - Abraham Lincoln

conraddobler

Eventually maybe but there is an all out assault on Gold right now.

They have steadily increased the margin requirements to near stupid proportions now.

That and no QE3 means gold is stuck for a while.

QE whatever was driving it, absent that, it's way over valued IMO.

You are at the mercy of those who control the currency, when they pause on printing money you can get left out on an island and have to be able to either sell or hold out until they start again.

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When written in Chinese, the word "crisis" is composed of two characters. One represents danger and the other represents opportunity. John F. Kennedy

thirty-two

Oh, I definitely am back on the right track. Still have debt, just not as much as I did 3 years ago Slow process.

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Rest in peace, Skkorp. We'll never forget you.

Brian in Mesa

"Gold is the new Snuggie. You buy it off late-night cable and end up looking stupid. Everyone is talking about it, and everyone wants to get involved. But think about it. If you were going to invest in gold at all, would you really want to buy it at its 176-year high?" - Dave Ramsey

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HONEY BADGER DON'T CARE

jw7

Well Dave Ramsey kind of looks like an idiot on investment-picking.

The article you quoted is from Oct 2009.

Linky

Here is the chart of GLD since 2009:

Attached Images

 

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LVG

It depends on what you think the market will do.

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RISE UP DARK SIDE

"The problem with quotes on the Internet is that it is often difficult to verify their authenticity." - Abraham Lincoln

Brian in Mesa

Ah, I was bouncing between two. One from 2009 and one from 2011.

http://www.daveramsey.com/article/sh...oney_investing

"Why would you buy something at its all-time high? From 1833 to 2001, the compound growth rate of gold was 1.54%. Since September 11, gold has made record returns, averaging close to 16% a year. The gains that gold has made in the last 10 years can't make up for nearly two centuries of poor performance. There's nowhere to go but down—and history supports that." - Dave Ramsey

So historically, as a long-term investment it has trailed behind the mutual funds that Dave suggests. Again, he is not for "playing what's hot" in the stock market. He gives advice for people who want the best long-term gains and security.

If you disagree with Dave - keep your GLD investments for the long-term and prove him wrong.

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HONEY BADGER DON'T CARE

conraddobler

Dave's good at telling people how to get out of debt and that's awesome but that dosen't mean he knows anything about investing or the stock market.

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When written in Chinese, the word "crisis" is composed of two characters. One represents danger and the other represents opportunity. John F. Kennedy

Brian in Mesa

He does mostly, but he also fields questions from people once they are out of debt and want to invest. He's up front about telling people that they can do what they want, but since they have asked him...here is his opinion. He's not saying "This is how it is. It is written in stone."

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HONEY BADGER DON'T CARE

Pariah

"Gold is Tanking Down." Where else would it tank?

BIM, I would have thought you'd have been all over this.