Buying gold for investment

[dennisr]

Seems like there is a whole army of talking heads hell bent on ruining a perfectly good day.

 

[DJP]

I think it was JP Morgan

 

[Canick]

as i mentioned on a previous thread, i have been told not to buy more gold because it is in a bubble for over a decade. at $400, $650 and when it hit $1000, GOLD BUBBLE was screamed from the roof tops! so today at OVER $1500, you are right. Gold is in a bubble.
and you know what, i like my bubbles. they make money.
So to each his or her own. personally if my shoe shine boy told me to buy gold today, i would think he was a very smart kid....
this bubble is far from being popped.

 

[MorganF]

Ever hear the story about Joe Kennedy that one day he got a stock tip from his shoe shine boy. He decided if shoe shine boys are giving out tips the end was near. That very day he sold all his stocks and missed the crash of 29.

Funny, I always heard that anecdote attributed to J.P. Morgan.

Truly have no idea of the true provenance.

 

[gouchobob]

Funny, I always heard that anecdote attributed to J.P. Morgan.

Truly have no idea of the true provenance.

It's been attributed mostly to Kennedy. Since J.P. died in 1913 I don't think he was too worried about the 29 crash.

 

[Rad]

Gold is up 500% in USD terms since it bottomed about a decade ago. So the risk is pretty high now.
There was also an article on ferfal's blog about selling gold during and for a few years after the Argentine crisis of 2001 - the dealers were paying for bullion as if it was only 14k scap jewelry. Something to consider...

 

[LostinBA]

When glenn beck and annoying internet pop-up ads are "advising" you to do something, best course of action is to generally avoid it like the plague.

If only Glenn Beck had the plague.

 

[French jurist]

DISCLAIMER : I didn't dig really the subject, but it is important enough to be mentionned :

http://goldsilver.com/news/trading-...nd-silver-to-be-prohibited-beginning-july-15/

If true, this will affect the market for physical gold too.