Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (72894)	5/22/2010 3:00:36 AM
From: Maurice Winn	2 Recommendations of 74559

TJ, I used the $10,000 figure in relation to gold before you. Long before. You started drooling when I mentioned it. Even the $2000 I mentioned got you going pretty good. That was back in the day when I took the trouble to go to a gold supplier in Grafton Road with a view to loading up a Tonka Truckload of the stuff and they quoted me $323 per ounce [but in NZ$ and with a transaction cost which was excessive, so it seemed, at about 10%]. For 33 years, I have been acutely aware of how rapidly governments destroy money I have diligently worked for and saved so it's not as though things like gold are new to me. I was accused in 1984 of being a "bring back the gold standard" retard when I argued with BP Oil colleagues at lunchtime that money should be based on something more robust than a politician's promise. There were various reasons I didn't buy gold back then [at $323]. I would not want to have committed my spare cash and already, alternative investments have proven to be more successful... Zenbu for example. Because of our tax laws, it didn't seem like a good idea to sell QCOM at the peak and pay a capital gain tax of large proportions. But it has not been a good time over the last few years. They seem to have a propensity to gush money down the drain and royalty rates have dwindled and they have managed to lose ridiculous lawsuits costing $billions. QCOM is in the midst of a fantastically phenomenal mobile cyberspace revolution which they enabled and yet their share of the profits is derisory. They gave too much away. But smartphones and Smartbooks are just getting going and mirasol is unknown still. Gold would have been fun in my childhood thinking, as was silver [my stash of which was stolen by some envious person]. But I have moved on and can see much bigger and more glorious opportunities than prancing naked around a bonfire chanting imprecations to Aztec Gods, wailing cult incantations and moaning mystical mantras. I prefer to dabble in financial relativity theory and have now got a company established to do just that, with my JPM and WFC shorts in positive territory. Iron is the end state of cosmic processes. Gold is the end state of financial shenanigans. But getting there is half the fun. I don't want to go straight to either gold or iron. I'm happy to be made largely of hydrocarbons, some of which atoms are still radioactive. Mqurice

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