2026 TeoTwawKi ... 2032 Darkest Interregnum Message Board

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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 389.75

+0.5%

Dec 1 4:00 PM EST

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To: carranza2 who wrote (76398)	7/16/2011 9:58:48 AM
From: Maurice Winn	1 Recommendation Read Replies (4) of 218131

Just seen in somebody's profile: < Quote: 'The first principle is that you must not fool yourself and you're the easiest person to fool.' Richard Feynman via Charlie Munger of Berkshire Hathaway.> Excellent point. Fooling ourselves and signing up to a cult is easier than getting up in the morning and follows soon after. Gold is a very popular cult now. Production cost is about $300 an ounce. Retail price $2000 an ounce. That is a big gap. A booming gold culture is like the booming moai culture of Easter Island. It seems like a good idea at the time. There will no doubt be charlatans touting "Get your shares in this new gold mining venture now. IPO closes tomorrow. Don't miss out. Selling like hot cakes." They will get while the getting is good because when the fashion changes again and gold becomes just another cost plus 10% metal, the share price will tumble. Mqurice

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