Posted on 11/29/2006 8:46:56 AM PST by GodGunsGuts
Is he "right" about WHAT...that gold will "soon" hit $1650 an ounce, that our economy or stock market or whatever he next decides he originally meant, will fall 40% in '07, that he's made a LOT of money in gold?
By professional, I meant people who not only work in the market, but also those who have a long history in investing and knowledge of it.
Claiming that you have made 10%-20% a year, in trading, doesn't prove anything much, when nobody knows what that 10% to 20% is on. If it is on $10,000, say, that amounts to peanuts.
In part of the 1990s, a monkey throwing darts at a paper with DOW listed companies on it, could have made a lot of money, for anyone who followed those recommendations.
You want to know WHY nobody besides GiGi wants to enter your "game"? Well, I can't speak for everyone, but I've already said why, on this thread, that I won't. Besides the fact that such a thing is NOT what FR is for, that it is patently ridiculous, could lead to a law suit, and that it would "prove" NOTHING, I suggest that there is no way to prove that anyone wasn't just posting someone else's ( any of the financial "gurus" ) list. And the later would NOT "prove",in any way, shape, manner, or form, how "good" the poster is.
And BTW, you have hijacked this thread with your silly "game" and personal reveries. Either stick to the thread's topic, or get off the thread. We've already wasted far too much time and bandwidth on this garbage!
Spot on!
Your tinfoil had is on too tightly.
Yes those are the questions. I happen to think he is wrong and I am willing to demonstrate it :)
By professional, I meant people who not only work in the market, but also those who have a long history in investing and knowledge of it.
I guess by those standards I am a pro too.
Claiming that you have made 10%-20% a year, in trading, doesn't prove anything much, when nobody knows what that 10% to 20% is on. If it is on $10,000, say, that amounts to peanuts.
You are right, past claims mean nothing unless they can be verified, that is the purpose of the challenge. Let everyone stake their positions and see who wins.
In part of the 1990s, a monkey throwing darts at a paper with DOW listed companies on it, could have made a lot of money, for anyone who followed those recommendations.
You are only partially correct, the DOW was crappy during the nineties in comparison to the tech stocks. Are you very old? Yes at one point simply putting a DotCom on a stocks name guaranteed a 100% pop.
You want to know WHY nobody besides GiGi wants to enter your "game"? Well, I can't speak for everyone, but I've already said why, on this thread, that I won't. Besides the fact that such a thing is NOT what FR is for, that it is patently ridiculous, could lead to a law suit, and that it would "prove" NOTHING, I suggest that there is no way to prove that anyone wasn't just posting someone else's ( any of the financial "gurus" ) list. And the later would NOT "prove",in any way, shape, manner, or form, how "good" the poster is.
Obviously you don't have much investing experience. There are no Financial Gurus out there who can accurately predict the market.
Let me repeat that one more time. There are no Financial Gurus out there who can accurately predict the market. They are all idiots, myself included. Never forget that! You might be an exception though, nopardons :) but you aren't even willing to hazard a guess so we will never know.
I happen to believe that there are ways to increase my return while lowering my risk at the same time. Yes it is boring, hard work, but it gradually pays off. I usually only invest in growing, profitable companies.
Now some people like HeadsOnSpikes, put their money in speculative penny stocks (is that redundant?) and will generally lose most of their investments, but occasionally they can hit it big. Just like playing Roulette. I personally prefer the house odds myself.
I never said the economy would fall by 20-40%. I was talking about housing (and I said it would fall by that much at a very minimum). I believe the economy will shrink too, but by how much, I don't know. Our situation closely matches the 1970s, but it will probably be much worse (as our triple deficits are huge, our entitlement spending is going through the roof, global instability almost guarantees an oil crisis, and we have no comparative advantage over, and therefore can't compete with, Red China's slave labor economy).
PS I would imagine that one good indicator of how much our economy will utlimately shrink would be to calculate what would happen if a significant amount of our debt was shaken out (and the effect that our massive federal entitlements will have once the dems start taxing our economy to pay for them).
PSS I am of the firm belief that Gold will be going to $1650 in three to five years. I have a couple hundred grand riding on gold's continual (albeit volatile) appreciation...so you better believe I believe it!
Yes, by the standards set up, YOU are a pro; he isn't.
My point is that there is NO way to verify what ANYONE says on line. You can post ANYTHING, but nobody knows if that is true or false. Oh, some things can eventually be smoked out.....someone's military status ( DIHF ), their sex ( CGEG ), their visage and age ( SB ), but many get away with with the outrageous lies they tell.
I was alluding to the dotcom BUBBLE and just used the DOW as a handy dandy shortcut.
It all depends on what "OLD" means and no, I'm NOT being Clintonian. I'm probably a bit older than you are, but no, I'm not "OLD"! OTOH, I've probably lived "off" the market far longer than anyone else on this forum; let alone this thread.
I used the term "financial gurus", because ALL of FR's goldbugs use, as sources, financial letters and web sites, for their crazy posts; CCPing vast blocks of the tripe. I call them SHILLS, because they are, in fact, just "advice" givers from people/companies who want to sell gold, in almost all its permutations. Rather than true "advice", they are just ads.
I NEVER give "advice", nor do I share with anyone what my investments have been/are. I don't NEED to be thought of as some kind of investment/financial whiz. OTOH, I will continue to shoot down all of the crazy doom&gloom junk and goldbuggery garbage that gets posted. If I and others don't do that, then the gullible might fall for the specious junk that gets posted here.
Believe it or not, you and I really ARE on the same page, when it comes to the market/investing. :-)
Your original post did NOT explicitly say that the supposed 20-40% was re housing. You just stated that that was going to be the drop. Then, when called on this, by MANY, you stuck in that you meant HOUSING. And, sweetums, a drop, across the board, nation wide, of housing prices falling 40% is an impossibility, unless there is a world wide depression and a world wide nuclear war.
Our "situation" is NOTHING whatsoever like the 1970s.
You really are delusional. LOL
You're a bit behind the curve; dear. Just the other day, I saw a full page ad, claiming that gold was going to "soon" go to $2,000 an ounce. Of course, it was an ad for selling NEW gold coinage; not bars or stocks. hehehehehehehe
$1650 is my minimum target. And if you go back and look at the post I was responding to, you will know that my 20-40% comment was SPECIFICALLY refering to the housing market. And I will give you the same advice I gave Pedro...if you want to challenge my point of view, please do so with facts, figures and analysis...SOMETHING I CAN RESPOND TO...as opposed to petty jibes that lead nowhere.
Keep right on prevaricating; nobody expects anything else from you. ;^)
Facts? Facts have been dumped all over you for months on end. You either ignore them or CCP junk from goldbuggery letters/sites.
Oh, so now $1650 an ounce gold is your minimum? Since when? LOL
Oh sure, riiiiiiiiiiiiiiiiiiiiiiight, okay, $1650 an ounce gold in 3 to 5 years is what you keep claiming and that's based on a gauzy chimera.
Stock certicates debt instruments?
They're EQUITY instruments. Kind of like all the stocks Japan used to own.
Gigi only gets what he gives.
Sort of.......what he deserves is constant derision and worse.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.