Goldbug Guru,
On the day that IBM becomes history, as you predict, what will your gold holdings be worth? Remember, this is a substance with no intrinsic value at all. If you really expect Armageddon, don't stockpile gold. Build a bombshelter and stockpile food and ammunition.
Yes, I think much of the market is overvalued - with numerous exceptions. I expect there will be a substantial tumble. I'm moving some high-priced holdings into cash, and when the tumble comes, I'll buy. The US market has never lost money over a 20-year period. It will come back up, barring total collapse - and in that event nothing, including gold and money in the bank, will be worth a thing.
Steve |
