Hello Croesus, I have been and am happy with my paper silver accumulation program.
I recognize my own limitations with trading, as in "in & out" - frankly I am not brilliant at it. I find it easier to gradually build a position large enough to matter, and let time do its necessary work.
The trouble with trading when a large enough position needs to be constructed is well known:
(a) miss the interim top
(b) miss the interim bottom
(c) get the frighteners at the actual interim bottom and sell out cheap
(d) get another brilliant idea on some other plaything and lose money in a new way
(e) get the fever at the interim top, and buy in expensive
(f) etc
Do the above on enough shares, and the game ceases to be fun.
I post all my trades in real time, as in so (search on "Pezz Chugs" via Public Msgs), siliconinvestor.com
... silver is a 100/oz play for me and a relatively easy play at that, involving no risks from management, shareholders, customers, suppliers, R&D, marketing, distribution, or after-sales service.
My physical gold/platinum (average costs 330-ish/414-ish, respectively) is at 7% of gross asset and 11% of NAV. I do not have a physical silver scheme, and so the ETF will have to do.
I started my paper silver accumulation program at exactly this point and have been happy with the result so far
Message 22301719 (March 28th, 2006)
<<... established the necessary facility to trade and hold silver-backed certificate at a Bank of China subsidiary retail bank here in Hong Kong.
To start, I purchased a wallop of the stuff, at least in equivalent physical terms. Transaction price was 11.06/oz.
... Another interesting point ... the bank metal dealer was enthusiastic for 15/oz silver. I see that number within imagination.
I think, at a defining moment, Mr. Ben BurnAndKaput will find out in a hurry about where surplus savings and excess surplus can go.
Chugs, J
P.S. here are four very early posts on my platinum and gold physical accumulation programs
Message 15152323 gold
Message 15774373 platinum
Message 15827492 why gold
Message 17510608 why gold |
