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Re: Forum gossip thread by Frood

That Gold I bought keeps going up in price

Started by JOE, March 04, 2024, 05:55:53 PM

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JOE

...I knew I shoulda bought more.

It went up $40 US an ounce on Friday.
$30 today.

Now the gold seller raised their prices and it's goin outta sight.

Had my chance. I knew I should have pressed the buy button.

Oh well, at least I got the other 15 ounces I'd bought last year.

Lokmar

Quote from: JOE on March 04, 2024, 05:55:53 PM...I knew I shoulda bought more.

It went up $40 US an ounce on Friday.
$30 today.

Now the gold seller raised their prices and it's goin outta sight.

Had my chance. I knew I should have pressed the buy button.

Oh well, at least I got the other 15 ounces I'd bought last year.

Meanwhile, silver went up MORE!

TheProwler

How does that compare to my 10,000 shares of Wajax Corporation Senile J?
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DKG

Quote from: TheProwler on March 05, 2024, 04:50:45 AMHow does that compare to my 10,000 shares of Wajax Corporation Senile J?
Even if Joe was telling the truth, he thinks short term when it comes to investing. Only fools do that. In his late years, playing the long game is not an option.

JOE

#4
Quote from: DKG on March 05, 2024, 06:22:17 AMEven if Joe was telling the truth, he thinks short term when it comes to investing. Only fools do that. In his late years, playing the long game is not an option.

I'd be interested in jumping into the market but I don't think it's the time Prowler. And the stock market seems overpriced at the moment.

2024 will be an extremely volatile time.

But 2025/26 could be a very rocky period for the stock market....no matter who is US President.

It's all about market cycles, eh. And the top analysts think we will have a trough.

There was actually somebody who lived in 1880 who published some kind of farmers almanac who predicted a market dip by 2026.

More recently, someone named Mark Markowski. Go look him up. He has a website called alphatack (?). Market dip in 2025.

In part I think the recent rise in gold has a lot to do with fear in the markets and the possibility of a correction. So of course they wanna cover their behinds in case the SHTF.

Also, banks are buying up a lotta gold to shore up their reserves due to the fragility of the US banking system and commercial real estate. China too is in a severe recession.

I was buying gold last year cuz I was reading about all these things that were gonna unfold.

If Trump gets elected there'll likely be more volatility than if Biden wins. That could be on the upside but a Trump victory points to greater instability.

TheProwler

Quote from: JOE on March 05, 2024, 09:27:11 AMAnd the stock market seems overpriced at the moment.

Oh?

The TSX?

Why would you say that?

JOE

#6
Quote from: DKG on March 05, 2024, 06:22:17 AMEven if Joe was telling the truth, he thinks short term when it comes to investing. Only fools do that. In his late years, playing the long game is not an option.

I was interested in jumping into the market DKG.

However, the markets seem too high and the economy is in a fragile state. As you're aware, much of the global economy is already in recession.

I think even you admitted that the economic conditions these days are somewhat unstable.

I've been reading things from now going into 2025 and even 2026 could be quite rocky. So I'd rather take a wait and see approach before throwing any significant amount in.

Now of course, if I'm off, then I miss out on the gains.

But I'm playing it cautious at the moment.

Just to let you know, I based my decision to buy gold on YouTube videos and articles last year which forecast a choppy outlook for 2024.

The coming US presidential election distorts economic data. I think a lot of economic activity is being powered by hype, prime pumping by the US Fed & stimulus by the Biden administration to make things appear more rosy than they really are.

But that's just my opinion. Feel free to disagree & offer your own opinion, DKG.

Lokmar

josephine bought collector coins. josephine is a dipshit.

TheProwler

Quote from: Lokmar on March 05, 2024, 09:47:08 PMjosephine bought collector coins. josephine is a dipshit.

Senile J is dealing with relatively small amounts of money because he did not learn to save and invest when he should have.
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JOE

#9
One example of 'collector' gold that I previous bought:



I PAID: 45 grams of .999 Gold $4200 Canadian or $3100 US.
No Tax.

Price of Gold Today: $2123 US per ounce
Price of 45 grams of gold: $3,072.39 (spot)
Price of 45 grams of gold: $3,226.01 (Ask Price-Dealer)

So Lokmeer...I paid close to today's SPOT price.

But rarely do dealers sell at that price, except wholesale(?)

The typical price of that gold set if purchased retail would be around $3200 US and up.

So...I didn't do badly on these 'collector' coins.
Basically I bought them close to today's SPOT price.
And below what the dealer would typically sell that set at these days.

When I buy 'collector' that's what I mean.
I always try to buy close to the actual value of the gold .

Or close to its MELT value.
Other words, if it was melted down, how much gold would it yield.

Here's the lowest asking price on eBay for that set:

$4500 US or Best Offer. So maybe the seller might let it go for around $3750-4000 US? Only he's gonna charge shipping/Insurance + there might be TAX depending on where it's being shipped.

https://www.ebay.com/itm/404168432951?itmmeta=01HR8ZVT6W4A9DQJ6YPC5QBF7M&hash=item5e1a50dd37:g:1YkAAOSwVAVj77FU&itmprp=enc%3AAQAIAAAA8LpwriA0oMLYmMhQmNy9nbNvvfmD7RgO0Q%2FAQ%2Fj3%2BMHKK1%2Bo%2FoY76rVagH8RvCFh8lz%2FEfIWM9jIDnUulOiJgGaAz4BYoCXQbswPucQN%2BncxhI3bNmIipZ4Q1FM1K02yAZ1Jy%2Fk3ZfnUWowMiEe6BqrTfuP%2FgZKVcWnDPcMtVpCFX5%2Fh2Bi475O8e4%2BZWXULZBWS2ZL79Gwb9jHi0%2F72QSAcuBAoa60pE58xrxEJBT6ZZeqbf35FKaHyvtVMyOjvUgKSJ4eqFBfxxzja3E2kKsZNw%2FpEtjve3Di7fDZGdMzfmyfiDFhFk1G0NQN5NeSDTQ%3D%3D%7Ctkp%3ABk9SR8Sj75_CYw

I generally am very careful about what I buy.
And I research them too.
I try to buy for Gold content first unless it's some hyper-rare and ultra desireable item ya can't find anywhere else and could RE-SELL for MORE.

If I can't get a good price on these things and I think they are OVERVALUED, I don't buy them.

In other words, it's not worth to buy these things (or anything for that matter) unless you can get a DEAL.

Is that Clear as Mud to you...Lokmeer?

JOE

#10
Quote from: TheProwler on March 05, 2024, 10:57:08 PMSenile J is dealing with relatively small amounts of money because he did not learn to save and invest when he should have.

IMHO the Stock Market is just like a gambling casino Prowler

It runs on exacty the same principle.

You can enter it any time of the day, place a bet whenever you want & if your timing is right, you can make a profit. But if you place your bet at the wrong time, you lose money.

I'm not gonna plunk down $25,000-50,000 at the wrong time Prowler.

I don't claim to be rich. That's a lot of money to me.

While I could afford to lose that much, I'd rather not.
That's like a down payment on a small property.
Or the price of a decent car.

Anwyays that's what the BIG Guns do.
They buy LOW and SELL HIGH.

What Warren Buffet said:

""Be Fearful When Others Are Greedy and Greedy When Others Are Fearful"


Why would anyone buy when the market is at an all time high but economic conditions are deteriorating?

Or Bitcoin? Same thing. It also registered an all time high recently.

Enter the market now it seems it's too late.
Wait for the next cycle or the right time to enter....'The Casino'.

JOE

#11
Guy describes Stock Investing as it really is...


It's just glorified gambling.

When a person invest their money, it's 'in play'.

In other words, just like throwing chips on a poker table.

While there are certainly potential gains, as the guy explains, the investor has forfeited his claim to that money he's invested or is 'in play'.


so...just like a gambler losing money at the poker table when the croupier takes the chips off the table, likewise the investor loses the money he's invested when the brokerage takes it s cut and the market goes down.

While the market could come back, in the event of a sever crash (which is a possibility these days), it could take a very long time like it has in previous crashes or downturns.

TheProwler

Quote from: JOE on March 05, 2024, 11:19:18 PMHere's the lowest asking price on eBay for that set:

$4500 US or Best Offer. So maybe the seller might let it go for around $3750-4000 US?

You have to look at Sold Items to know what they are going for, Senile J

I already told you this, you dumb cunt.

TheProwler

Quote from: JOE on March 05, 2024, 11:42:26 PMIMHO the Stock Market is just like a gambling casino Prowler

Well that is a stupid opinion.

In a casino, the odds are against you.

In the stock market, the odds are for you.


Quote from: DKG on March 05, 2024, 06:22:17 AMEven if Joe was telling the truth, he thinks short term when it comes to investing. Only fools do that. In his late years, playing the long game is not an option.

Yeah, his latest Rant of Stupidity is a product of his short term thinking.

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JOE

#14
Quote from: TheProwler on March 06, 2024, 12:58:11 AMWell that is a stupid opinion.

In a casino, the odds are against you.

In the stock market, the odds are for you.


Yeah, his latest Rant of Stupidity is a product of his short term thinking.



Well Prowler, I've known people who've lost all of their savings on the Stock Market or similar speculative ventures.

One guy I know lost $100,000 of his own money betting on Nortel Stock (which is no longer around) and he had to sell hot dogs for a living. He was actually in the Vancouver Sun and Province newspapers and his story was displayed for the public to see. So that isn't PI.

Another told me he lost $750,000 betting on currency futures speculation that the US dollar would go down, but it went up and he lost everything. He ended up having to move in with his parents and  resort to being a used car salesman.

Quite a few people told me they lost all or a large part of their savings when the 2008 Financial crisis hit. Some never even lived long enough to see the markets come back 10 years later.

so, whether you like to admit it or not, investing in the stock market is a gamble.

And when someone smarter than yourself, more monied, better educated, polite, more humble and experienced like Ray Dalio, Warren Buffet or Charlie Munger says it is, then there must an element of truth to it.

I think you just talk out of your ass, Prowler.
And Bullshit spews outta yer mouth.

And all those people at BF think you're a joke now.
You think they take you seriously, but they just laugh at you.

You have no credibility because you never/rarely source your claims or back up your statements.

All you are capable of are are these failed attempts at gaslighting. And even that is wearing thin & the folks at BF have seen through you now.