Friday, November 5, 2010

Metal Is Precious!

Two years ago almost to the day I was discussing a fund that was not performing well with my financial manager. It was just over $23,000, not a terribly large amount and Cecil said he had his eye on a Precious Metals Fund that he thought showed promise and thought that I might like to take a bit of a chance on. He knew the fund manager personally and trusted him. We moved the money into it and watched. After just two years it is now worth $77,000. Not bad! If this is how capitalists live, maybe I should give it a try. According to my statement I am up 233% to date on that fund. Don't worry, I am well diversified.

I was in to see Cecil last week and he suggested I might want to pull out the profits and let the original investment ride. I thought I should pull out the original investment and let the profits ride. As a compromise we did nothing and agreed to look at it again in the spring. This week the fund rose another $3,700 in value. Life is Good!

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