Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Moominoid who wrote (14695)	2/9/2002 4:39:12 PM
From: Snowshoe	Read Replies (2) of 74559

You know back in 1980-1 when the gold price was soaring I was very interested in gold A friend of mine pulled all his money out of savings and bought physical gold at $800/ounce in January 1980. Within a few weeks it had crashed to $500/ounce. In the meantime, I was earning around 10% in my money market account. That experience did a pretty good job of vaccinating me against gold, and I still have the residual antibodies. But I admit I'm starting to get interested in gold now. The Japanese systematically overpaid for everything else: stocks, real estate, foreign assets, etc. Perhaps they'll repeat the process with gold.

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