Good Points! Over on the silver thread, someone posted that WB said Fools buy at the end what the wise buy in the beginning, I may have misquoted but that was the general idea. The fact remains that B-H still needs delivery of 42.2 million ounces of .999 fine silver by March 6, 1998. The announcement of the Buffet surprise was only last week, does this look like the beginning or the end? Sure looks like the beginning to me. Also what would happen if Mr. Soros. or even Mr. Gates started seeing the benefit of owning some physical silver. Perhaps buying 100M ounces themselves.
Remember reading an article by Jerome Smith many years ago called precious metals precious little, this article explained what we are now seeing in silver, many not thinking. If anyone cares to look at a ten year chart and sees this huge move in silver then perhaps they would think! When Microsoft was selling at $5 (spilt adjusted) did the investors get out at 7 or 8 just to see it rise to 140?
Based upon the long term chart the silver price is still fairly low especially if we think about the constant dollar, that is what does a 1964 dollar equal today? In 1964 a dollar was approximately .77 fine ounces of silver.
With the concerns in the financial markets, Asia, Y2K, earnings, currencies, Japan, the Fed etc. I will sit on top of a fully paid and delivered position of the precious little owned and watch.
I concur this does look like a wall of worry, my my how silver keeps rising how can that be? Since my survey shows most still do not think this is for real it just might be..
Looking ahead 3-5 years out holding the physical metal might just be the way to joyfully watch the wall of worry ebb and flow. |
