June 29, 2011
I Am Long Silver And If It Goes Down, I Hope I Am Smart Enough To Buy More
Well, I’m long silver, and if it goes down more, I hope I’m smart enough to buy more. I didn’t particularly like seeing it spike, because anything that turns into a parabolic move has to be sold. And I don’t want to sell my silver. I want to own it 10 years from now. Fortunately, that spike did break, and I find that encouraging and bullish. - in IndexUniverse
I know there are a lot of people who think it’s holy or mystical, but my reading is that everything is a commodity, ultimately, whether it’s IBM computers or Ford motor cars.
So, I consider gold a material, a substance, a commodity, a natural resource, a raw material — call it what you will. And it is affected by supply and demand, as it has been for several thousand years.
The mystics don’t like that, but unfortunately, I’m not a mystic. There have been many times when gold has been a terrible investment, no matter what’s been going on in the rest of the world.
Gold Is Just A Commodity
So, I consider gold a material, a substance, a commodity, a natural resource, a raw material — call it what you will. And it is affected by supply and demand, as it has been for several thousand years.
The mystics don’t like that, but unfortunately, I’m not a mystic. There have been many times when gold has been a terrible investment, no matter what’s been going on in the rest of the world.
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