Saturday, June 22, 2013

And As If That Wasn't Enough

I took a $4,000 hit in the market last week! Almost all of it in my gold (precious metals) fund. I mean, how much lower can gold go! It is gold for god's sake, the standard! These funds are still worth almost three times what I paid for them a few years ago ($9 vs, $27) but they have been in a downward spiral for several months. They used to be worth eight times what I paid (peaked out at $78)! I keep waiting for them to rebound, thinking it would be silly to sell when everyone else is buying and yes, someone on here advised me to sell back then. As I do with most advice, I ignored it. I did take my advisor's advice a few months ago and moved about 25% of my gold into something more stable. I just wish I had of moved more. But then if I had, gold would have gone up and I would have been kicking myself in the butt with the other foot!
Joe Btfsplk, the world's unluckiest man (from Li'l Abner cartoons).

I talked to a friend in Alberta yesterday who had the same feeling, saying gold has to recover and when it does it could go to $2,000 per ounce. Oh Happy Days!


  1. I guess I'll hang on to my gold retirement watch for a few more years now since its value is dropping like a rock! Other than that, I'm totally 'goldless'!

  2. Gold is often seen as a hedge to other investments. If one sells it, it's not much of a hedge.

  3. Meh, if it goes down, just buy more! That's usually my motto.

    1. And that of course, is why the 1% keep getting richer. Us 99%'ers do not have the unlimited resources required to do that! At least on a large enough basis to make a huge difference.

  4. You just have to let it go and what it ends up at when you really need it, so be it. Not worth wasting your energy worrying about it.