Geniuses who sold Silver at $30 an Oz -How is that working out for you?

[Daamien]

Let's get the terminology right, you aren't profiting by saving in gold and silver. You are simply preserving your purchasing power through an asset transfer.

If you want to profit in silver and gold, then you need to invest in a leveraged ETF, such as going double-long with a gold or silver 2x ETF, or invest in gold and silver mining operations which pay out earnings.

For example:

• ProShares Ultra Silver ETF (AGQ)
• ProShares Ultra Gold ETF (UGL)

Meanwhile, if you want to save in silver and gold, then buy bullion coins and bars. Silver and gold bullion is not an investment, it is a form of savings. Just like how holding cash is not an investment.

 

[Jordan]

Is Warren Buffett sad he sold his silver at $7 after buying it at $5? http://seekingalpha.com/instablog/3...tor/4920-warren-buffett-s-mistake-with-silver

I don't know about you all--actually I do--but I would much rather be in the camp that misses one and hits many than the camp that hits one and misses many. Eighty home runs in one year in Major League Baseball will make you a powerhitter, but the guy who hits .400 with twice as many RBIs is still a better baseball player.

P.S. Glad to see that Melissa is still the most logical thinker here.

 

[EndDaFed]

This is retarded. Anyone can look at the past and say what should have occured. Anyone who says they know the future price of silver with certainty is full of shit. It could drop like a rock next week for all you know. If we have another wave of a million people getting layed off every month a lot of people will be selling those silver and gold bars to pay the rent. Given that there are mines that are in operation now in Mexico and China that can produce silver at 4-6 dollars an ounce I wouldn't be so cock sure. Timing the market is hard. If you've already made a 100% or 200% return you could sell off half or a third, keep the principle invested and still have exposure to silver.

 

[hugolp]

This is retarded. Anyone can look at the past and say what should have occured. Anyone who says they know the future price of silver with certainty is full of shit. It could drop like a rock next week for all you know.

Well, there have been developments in the area called economics that allow you to make some predictions. Its not a empirical science like chemistry for example, but still. Its not like "anything could happen".

In this moment of the cycle its quite obvious that silver still has a long way to go and anyone selling now its making a mistake (except if its trading), but it is also true that in some years it will be time to sell.

If we have another wave of a million people getting layed off every month a lot of people will be selling those silver and gold bars to pay the rent. Given that there are mines that are in operation now in Mexico and China that can produce silver at 4-6 dollars an ounce I wouldn't be so cock sure. Timing the market is hard. If you've already made a 100% or 200% return you could sell off half or a third, keep the principle invested and still have exposure to silver.

 

[devil21]

I don't think people were stupid for selling. I just think those that sold aren't in the metals for the same reason I am.

 

[cubical]

I didn't sell all of my silver until $35.00. I am still remorseful and too frightened to buy silver again.

This is the reason silver won't keep going up every day, even if it will get to $100 eventually. people who bought between 5 and 20 won't pay $40 when the chart is making new highs, especially if they sold earlier. Buyers will eventually dry out and the price will fall. The people who originally bought between 5 and 20 will buy back in at $30 if it fell from $40.

 

[cubical]

Is Warren Buffett sad he sold his silver at $7 after buying it at $5? http://seekingalpha.com/instablog/3...tor/4920-warren-buffett-s-mistake-with-silver

I don't know about you all--actually I do--but I would much rather be in the camp that misses one and hits many than the camp that hits one and misses many. Eighty home runs in one year in Major League Baseball will make you a powerhitter, but the guy who hits .400 with twice as many RBIs is still a better baseball player.

P.S. Glad to see that Melissa is still the most logical thinker here.

What is everyone on here so much on? This board has been behind PMs ever since I have joined. I have not seen them missing on or even attempting any other trades. I would say this board own Warren Buffet on PMs.

 

[LibertyRevolution]

This is the reason silver won't keep going up every day, even if it will get to $100 eventually. people who bought between 5 and 20 won't pay $40 when the chart is making new highs, especially if they sold earlier. Buyers will eventually dry out and the price will fall. The people who originally bought between 5 and 20 will buy back in at $30 if it fell from $40.

Cubical is right.... I got in at $8, I will not buy at $40.

 

[hazek]

For me there will never come a time to sell the PMs I own unless I'm after the fiat money. I see PMs as hard money and will always try to get rid of all of my fiat before I get rid of PMs. The only thing that could change my perspective on this issue is if a drastic change in government and central banking policies happened. Only then I could ever see a time where it would make sense to sell PMs and to hold something else.

BTW silver is making record highs in overnight trading as I type this. $41.13 atm.

 

[devil21]

What is everyone on here so much on? This board has been behind PMs ever since I have joined. I have not seen them missing on or even attempting any other trades. I would say this board own Warren Buffet on PMs.

Jordan believes in the Holy Fiat Grail. He believes his inflation hedge is stocks. That's his choice but I wish he wouldn't rag on other members because of their PERSONAL investment choices. I don't think any of us on this forum, filled with above average intelligence members, are doing badly in our investments. Stocks = metals when it comes to inflation protection....or at least until the market tanks again.

Btw, Buffett had billions to invest so comparing his $2 per ounce profit to average citizens with limited means is assinine. I agree cubical, we are kicking Buffett's ass in metals and you better believe even Buffett (or his next in line) will eventually shed dollar assets for something else. Buffett is just milking his insider trading contacts for all they are worth, while they are still worth something.

 

[cubical]

Buffett is just milking his insider trading contacts for all they are worth, while they are still worth something.

I would LOL for a very long time if Buffett himself got caught doing insider trading. Market would open down 500 points. He has been in the biz so long and knows so many people I bet he has done some shady moves in his day.

 

[BlackTerrel]

Picking stocks, commodities etc... is like filling out the March Madness bracket. Most of the time it's more luck than skill and brilliant people can make bad decisions and dumb people can luck into great decisions.

If you invested in silver and held on to it then good for you. But no need to gloat about it. Next time you may make the wrong decision.

 

[Blueskies]

I don't know how so many people on here can embrace the ideology, but still not apply it to their personal fortune.

First, let me exclude traders here. People that think they can sell out and move back in and so on.

If you are a medium-to-long term investor and you're selling your PMs because you think they've topped you are saying that the dollar is poised to strengthen. You then have to answer the question: why? Why on Earth should the dollar strengthen?

I bought in at 18, bought more at 25, bought more at 35. I'm going to buy again as soon as I can put more FRNs together no matter what the price is. There may be some pullbacks, maybe 20% even. But the fundamentals say that silver is going much higher. If you reject that, what are you doing on this forum?

 

[axiomata]

This thread is stupid. Maybe they sold silver and bought EEE (up 360% YTD). If they sold silver and held it in dollars they are probably kicking themselves, no need to pile on.

 

[libertybrewcity]

Let's get the terminology right, you aren't profiting by saving in gold and silver. You are simply preserving your purchasing power through an asset transfer.

If you want to profit in silver and gold, then you need to invest in a leveraged ETF, such as going double-long with a gold or silver 2x ETF, or invest in gold and silver mining operations which pay out earnings.

For example:

• ProShares Ultra Silver ETF (AGQ)
• ProShares Ultra Gold ETF (UGL)

Meanwhile, if you want to save in silver and gold, then buy bullion coins and bars. Silver and gold bullion is not an investment, it is a form of savings. Just like how holding cash is not an investment.

i'd stay away from the leveraged etfs. they can lose tons of money in a down market. i think slv actually holds silver, and the price is more stable.

 

[Daamien]

i'd stay away from the leveraged etfs. they can lose tons of money in a down market. i think slv actually holds silver, and the price is more stable.

The only advantage that unleveraged ETFs have to physical holdings is their trading liquidity and generally lower bid-ask spread. That being said, an unleveraged commodity/precious metal ETF is not a true investment. It is still a form of savings unless you are taking a leveraged position or have exposure to mining equities that provide earnings. Investing has its risks, obviously.

 

[brandon]

I bought at $10 and sold at $12. Mostly because I needed the money and realized I didn't want to risk it. I don't regret it. There will always be good investments to make if you look around. I'm just glad I've been holding on to a few oz of gold for a few years now.

 

[Jordan]

The only advantage that unleveraged ETFs have to physical holdings is their trading liquidity and generally lower bid-ask spread. That being said, an unleveraged commodity/precious metal ETF is not a true investment. It is still a form of savings unless you are taking a leveraged position or have exposure to mining equities that provide earnings. Investing has its risks, obviously.

Take 1. Subtract 10%. Now add 10%.

Take 1. Add 10%. No subtract 10%.

Look at the results, then see why leveraged ETFs suck for long-term holds.

 

[Godisnowhere]

What do you think?

I bought at 10, thinking of selling now. Would that be stuuuuuupid?

My initial comment contained some facts. Many here have picked at spelling or informed us how much they made when they sold, but did they consider those facts? Have you considered them? It may make a difference in your decision.

 

[devil21]

I would LOL for a very long time if Buffett himself got caught doing insider trading. Market would open down 500 points. He has been in the biz so long and knows so many people I bet he has done some shady moves in his day.

You must have missed the recent news item on Berkshire. Buffett's next-in-line CEO, David Sokol, was pushing for BH to buy a company he had previously invested in personally. He even pimped the potential of this company to the financial news outlets first. He recently resigned over it. There's definitely some slimey in that company.

http://www.msnbc.msn.com/id/42452395/ns/business-motley_fool/