60% of net worth invested in silver

[Ghost of Cutten]

Quote from newwurldmn:


"I don't understand," says Mr. Zornetsky, whose silver investment fell about 25%. "Silver is supposed to do very well this year."

Lmao. Ok, which one of you ETers is this guy?

 

[Ghost of Cutten]

Quote from Chicago_CTA:

I believe 20-30% of one's total net worth should be held in precious metals, but not from a trading perspective; from a long-term investing perspective.

It should always be gold rather than silver or other precious metals. Silver is an industrial commodity, it is not a monetary metal or crisis hedge.

 

[newguy05]

Quote from denner:

And then like a true dumbass you moved to Chicago.

har har....

 

[SymTrader]

Quote from Traveler:

Insane lack of diversification.

Like the guy says in Avatar just before he gets on the big red bird--"At some point in your life you've got to do something insane" (or something like that).

I'm still waiting for my "Avatar Trade".

 

[elon]

Quote from Debaser82:

This is correct, yet somehow conventional wisdom these last decades have dictated precious metals are an artifact of the prehistoric ages and exposure should be limited to 5% of ones networth maximum.

So true. When the Spanish looted the Incan gold stockpiles and brought it back to Spain it just became cheaper. Gold is not valuable, its the idea of gold that is valuable and the market will always reflect that.