Subject:
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April 2004 Advice
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Newsgroups:
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lugnet.off-topic.debate
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Date:
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Mon, 3 May 2004 07:39:17 GMT
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Viewed:
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202 times
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About three years ago I advised my family and friends to get out of the stock
market (especially mutual funds) and into Gold (and Silver) - mining stocks if
they wanted to be more aggressive. In a couple of months the S&P had recovered
from about where it is now to 1300 or so, and I figured the timing was good to
get out if you hadn't gotten out already. Gold was about $300 then - as I write
this, at the end of April 2004, it's $385, but a mere three weeks ago it was
over $425. Silver's correction was even more dramatic - from $5.00 late last
year to near $8.50 to below $6.00. Meanwhile the S&P has been in a bear market
rally from below 800 a year ago. Many analysts say that was the start of a new
bull market and we're going higher from here - I disagree. In my opinion this
is your last best chance to get out of stocks and into Gold. Wednesday provided
a prime example as Nortel dropped 1/3 - a loss of $9 Billion! It's easy in
hind-sight to say you predicted something, so I'm putting this paragraph here
for anyone to see until 2010 (my favorite movie). I'm also restating my two
main predictions from over three years ago; that we're going to see "four figure
Gold" (ie. over $1000) and the Dow and Gold will be "equal" (both at 3000 for
example). I've also said for years that real estate is a bubble that's going
to do what all bubbles do. I stand by that and add that interest rates are
going up. Don't buy bonds!
The above paragraph is on my non-LEGO page. http://SRC.northcomp.com/sgi.htm
This seems the best place to record it and prove it was posted now.
If you follow my advice, please forward a portion of the profit to my
favorite charity - Samaritan's Purse http://SamaritansPurse.org
SRC #765
StRuCtures(tm)
Guild of Bricksmiths(tm)
http://SRC.NorthComp.com
"Only a life lived for others is a life worth while ."
Albert Einstein
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Message has 1 Reply:
 | | Re: April 2004 Advice
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| Steve, if we all invested in gold, rather than the stock market, the stock market would fail. In fact, capitalism would fail! Good luck! Scott A (...) (20 years ago, 3-May-04, to lugnet.off-topic.debate)
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