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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Tommaso who wrote (62648)6/3/2006 11:57:28 PM
From: RJA_  Read Replies (1) of 110194
 
>I guess my big lesson was at the end of the last big boom in gold and silver, when you could buy U. S. bonds paying 12%, and someone I know said meditatively, "That's a pretty good return."

>Did I listen? No. I thought precious metals were good to eternity. I was terribly wrong and the guy getting 12% was terribly right. I lost half my net worth holding on and on to gold and silver.

>So there does come a time to rejoin the entrepeneurial human race and buy either stocks or bonds that pay a return or represent ownership in an enterprise.

I think your point is well taken. I was also in the last run up but bailed soon after the peak. I also thought that PM were good to eternity, but the market begain behaving differently, and I try to listen when the market seems to know something which I do not.

Never the less, it seems to me based on the amount of money creation since 1980 that we are a still good ways from peak gold.
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