Skip to comments.2010 Repeat-07 Glenn Beck hoodwinks investors to buy gold at $800
Posted on 05/11/2010 1:20:44 PM PDT by steve0
(Where are all the liberal media articles about how Glenn is overhyping gold? Glenn's Goldgate?)I will never support Glenn Beck again!!! On his advice and the advice of people on his show, I bought gold at less than $800.00 an ounce. He began hyping Gold in 11/20/2007 and earlier. Now gold is dropping like a rock and I can only sell my Gold for $1,200.80 a percentage increase of only 43.5%.
(# Glenn Beck's flawed gold standard - Los Angeles Times Dec 9, 2009 ... Radio and TV host Glenn Beck likes to talk about the potential collapse of the American economy. He also likes to talk about buying gold as ... articles.latimes.com/2009/dec/.../la-et-onthemedia9-2009dec09 - Cached - Similar # Glenn Beck's gold-gate problem - Yahoo! News)
This is a repeat from http://www.freerepublic.com/focus/f-news/2404125/posts
I’ll never forget what a good family friend told me what he did on 9/11.
He called his wife and college age son to make sure they were ok.
Then he put as much money as he could into gold.
Those poor people are only up 50% the poor things.
When instead they could be down at least 20% in the stock market.
I invested in stocks after the last crash and my portfolio is up about 40% since then, plus dividends.
Good thing liberals read the media and didn’t buy any Gold.
Gold company stocks? :-)
What financial crisis? The US has plenty of dollars and can always print more.
“Now gold is dropping like a rock and I can only sell my Gold for $1,200.80 a percentage increase of only 43.5%.”
...don’t sell...you’ll be paid in dollars and their weakness is the reason to buy gold in the first place.
Those have been on fire lately. Even went up when the market did its 1000 point gyration day last Thursday.
I’ve got an oil company, an agribiz, nat gas, consumer health care, consumer brands, and a payroll company.
43.5% return, that is so sad.
“The Jerk Store called, and they are all sold out of you!”
“Really, I heard you were their all-time best seller!”
Woops my return was approximately: 65% and counting.
I bought gold at less than $800.00 an ounce. He began hyping Gold in 11/20/2007 and earlier. Now gold is “dropping” like a rock and I can only sell my Gold for $1,223.70 a percentage increase of only 65%.
Imagine if they’d started listening to Savage when he was touting gold in 2003...when it was less than $400/ounce.
G. Gordon Liddy told me the same thing. I should have listened.
The Jerk Store called, and they are all sold out of you!
Really, I heard you were their all-time best seller!
Gold has historically (over past 200 years) been a very poorly performing asset in comparison with financial assets like stocks and bonds. It is also quite volatile. Generally with any commodity investment one should only expect a long-run return equal to the rate of inflation, or about 3% give or take.
Yup Neo. My precious metal mutual fund is up about 45% in the past year.
I am sure the NYT and other loser lib papers will wring their hands about Savage et al. after gold peaks again soon. Do you have a link to document Savages sales pitch back in 2003? I hope all the liberals heeded the liberal medial warning about the gold hucksters and dumped their entire gold holdings, ha ha. Thanks.
Yeah, but the fascist government will just confiscate it all just like FDR did, so NAH! At reasonable price of course.
I think people have given up investing, where Beck and Limbaugh have pretty much proved that Obama wants to break the knees of capitalism at in-debt our children for the foreseeable future, no?
“Gold company stocks? :-)”
I bought Ford last March, (2009), sold it in January, 2010. I only made about 275% on that.
Actually just started buying stocks outside of my 401k in March 2009. My small portfolio is only up an anemic, (compared to F), 100%. I currently hold BAC, MYL, MTW and CSCO.
me too - and he even made me double up with junk silver and roos.
And even get the IMF to bail us out????
The pathetic hacks at MSNBC hammered Beck relentlessly on this last year. Crickets since.
Fidelity Gold fund has done quite well.
I demand financial reforms and an investigation of all the right wing talk show hosts that are hyping gold, they are hurting stocks by their actions. Also maybe we need switches to even out the highs and lows such as those proposed by homo Barney Frank and dufus Dodd.
We bought a jewelry store in 1997 and stocked up on bullion....we’re good. :)
That darn Capitalism.
800? Late to the party!
Get a chart of that compared to the broad stock market since the 1850s.
Man, you got so screwed. (congrats! :)
I think part of the new financial overhaul should include oversight of Glenn Beck since he’s acting as an “investment advisor”. I’m surprised Clod Dodd isn’t trying to incoporate that into the bill.
Where do I get in line for Glenn’s investment advice again?
“I am sure the NYT and other loser lib papers will wring their hands about Savage et al. after gold peaks again soon. Do you have a link to document Savages sales pitch back in 2003? I hope all the liberals heeded the liberal medial warning about the gold hucksters and dumped their entire gold holdings, ha ha. Thanks.”
I wish i had a link. When i moved to the states back in ‘03, i listened to Savage for the first time in my life. Had commercials where he pushed “ buy gold now “...i don’t remember if it was Buygoldnow.com or whatever it was. I do remember it was less than $400 an ounce then, because i thought he was retarded since i could grow weed and make as much as investing. I was retarded.
Yeah their attacks are certainly old.
I hyped gold in 1999. Gold was under $300.
That depends upon the when they brought and sold. If they brought gold in 1981 as a long-term investment, the investment would have would have grown about 50% over 29 years or about 1.72% per year, which means that gold lost money after factoring in inflation. For example, a $10,000 investment in gold in 1981 would be worth about $15,000 today before the effects of inflation.
The S & P 500 index, in contrast, had an average annual return during that time period of approximately 12.5%, and a $10,000 investment in the Vanguard S & P 500 Index Fund in 1981, would be worth about $190,000 today before the effects of inflation. Since March 2009, many stock mutual funds, including the Vanguard S & P 500 Index are up over 40% and many funds are up 60% or more, but unlike gold, these funds can be brought and sold with a few clicks of the keyboard without paying a commission of any kind.
I really hate to disappoint you, but just because Rush, Mark, and Glen hawk gold on their shows, doesn't make gold a good long-term investment.
Your time line is irrelevant to the present. Gold is rising vs the US$ because it is becoming less and less valuable when measured against a gold standard
Perhaps, but the question is the investor’s time horizon. If the time horizon is a 30 year old waiting for retirement, gold allocation should be small. If you’re making a trading play on an inflation scenario, then gold certainly looks more appetizing.
I got mine when it was around $250. I'm NEVER going to get caught up at this rate!!
But you are supposed to be BUYING gold now, not selling it.
In fact, you are NEVER EVER supposed to sell gold. Have you EVER heard someone in the gold business tell you to sell your gold? No, because you aren’t supposed to sell it.
Boy are you on the wrong thread. This thread is a text book example why some people buy some gold during times of crisis.
Who can dispute your comments over very long spans of time. I don’t see anyone on this thread advocating putting all of your money in gold and leaving it there forever, but those people who saw risk, flights to safety, dollar depreciation and fear were very observant and shrewd to buy gold going into this crisis. They have saved a great bounty of wealth others have lost or risked losing.
You did say you make a nice profit from the last year’s stock market rally. You did not offer how much you lost in the prior crash. Full disclosure would be appreciated.
Huh? I wasn’t trading stocks last year.
I was using the time frame mentioned in the article. Since 2007.
Yes. Past performance is not necessarily indicative of future performance.
Believe it or not, I’m neither stupid nor gullible nor financially illiterate. If you had invested in the Neikkei in 1989 you’d still be down 75%. The US market (in dollars) has been flat for a decade and more than a decade if you used foreign currency to buy it.
If the last decade taught us anything is not to trust the guys on Tout TV talking their book and preaching buy and hold.
We had a generation bull market, that was from 1982 to 2000. Maybe a decade from now, but probably two, the S&P might be ready for a replay but right now the market is expensive based on any historical metric (P/E, dividend yield, etc.)
In fact, after the "scandal" broke, he made an overly theatrical disclaimer every time he did a Goldline ad, with everybody in the room helping out. "And now, an advertisement from Goldline, who is a SPONSOR! Who PAYS ME! To do an ADVERTISEMENT for them! About GOLD! Which I will now do!" Etc. It was pretty hilarious as it got more and more involved every day.
And I wasn’t trading stocks in 1850.
Well there is the cash4gold bunch.
I’m keeping an eye on them — as long as we see them advertising, IMO we’re not nearly at a top.