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On February 11 2021 04:35 LegalLord wrote:
So, what do people think of gold? Thinking of investing in some because I'm sitting on more cash than I'd like in the wake of an obvious war on cash but don't really want to increase my stock position more than I'm already doing. An inflation-adjusted equivalent of cash, as gold portends to be, seems appealing for that purpose.
One trouble I've found is that physical bullion seems logistically problematic, and none of the gold ETFs seem to do a particularly good job of tracking the spot price of gold. Anyone have any insight on what the best way to invest in gold is?
Local dealers will generally be your best bet at finding something close to spot price. Premiums all-around are pretty high no matter where you look, but shopping around the area could find something a lot lower than what is offered anywhere online.
I personally like physical precious metal, but that's likely because I enjoy stacking shiny rocks and daydreaming about economic collapse.
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Sundial Growers keeps going up :D
If it hits $4.20 I'm sure the meme's alone will be worth it.
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Bought SNDL at 1.7
It went to 2.9 today 😎😎
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One of my other weed stocks (CBDL) went to 0.014 today. Made a killing since I bought at 0.0012. Buying into penny stocks and watching them grow is one of the best feelings.
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United States24701 Posts
I read an article today advising people with security clearances not to directly invest in weed stocks haha.
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I just put the remnants of my Gamestop losses into $YOLO because I believe in the underlying product
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On February 11 2021 04:35 LegalLord wrote:
So, what do people think of gold? Thinking of investing in some because I'm sitting on more cash than I'd like in the wake of an obvious war on cash but don't really want to increase my stock position more than I'm already doing. An inflation-adjusted equivalent of cash, as gold portends to be, seems appealing for that purpose.
One trouble I've found is that physical bullion seems logistically problematic, and none of the gold ETFs seem to do a particularly good job of tracking the spot price of gold. Anyone have any insight on what the best way to invest in gold is?
If you don't want to buy physical you can buy Perth Mint held (1:1) electronic gold which is backed by the Western Australian Government (Perth Mint Gold Token).
https://pmgt.perthmint.com/
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On February 11 2021 04:35 LegalLord wrote:
So, what do people think of gold? Thinking of investing in some because I'm sitting on more cash than I'd like in the wake of an obvious war on cash but don't really want to increase my stock position more than I'm already doing. An inflation-adjusted equivalent of cash, as gold portends to be, seems appealing for that purpose.
One trouble I've found is that physical bullion seems logistically problematic, and none of the gold ETFs seem to do a particularly good job of tracking the spot price of gold. Anyone have any insight on what the best way to invest in gold is?
I doubt you're the only one thinking like that in a time where a global pandemic is ruining a lot of businesses and the usual safe havens don't really pay anymore.
If I look at the gold price it was fairly steady between 2014 and 2019, but went up by over 50% between then and midst 2020. It has seen a steady decline after that, but still sits on ~140% compared to two years ago though, so I'd assume that the price is currently inflated and will continue to fall. Which fits with what I heard from my local expert who strongly advised against it somewhat recently when I was looking for a safe way to invest my money.
Tbf many govs have pushed money into the market to combat Corona's effect on the economies, so real inflation was probably higher in 2020, but not to that extend.
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United Kingdom13775 Posts
On February 12 2021 01:33 Archeon wrote:Show nested quote +On February 11 2021 04:35 LegalLord wrote:
So, what do people think of gold? Thinking of investing in some because I'm sitting on more cash than I'd like in the wake of an obvious war on cash but don't really want to increase my stock position more than I'm already doing. An inflation-adjusted equivalent of cash, as gold portends to be, seems appealing for that purpose.
One trouble I've found is that physical bullion seems logistically problematic, and none of the gold ETFs seem to do a particularly good job of tracking the spot price of gold. Anyone have any insight on what the best way to invest in gold is? I doubt you're the only one thinking like that in a time where a global pandemic is ruining a lot of businesses and the usual safe havens don't really pay anymore. If I look at the gold price it was fairly steady between 2014 and 2019, but went up by over 50% between then and midst 2020. It has seen a steady decline after that, but still sits on ~140% compared to two years ago though, so I'd assume that the price is currently inflated and will continue to fall. Which fits with what I heard from my local expert who strongly advised against it somewhat recently when I was looking for a safe way to invest my money. Tbf many govs have pushed money into the market to combat Corona's effect on the economies, so real inflation was probably higher in 2020, but not to that extend.
$1550 in January 2020, $1850 today. I would believe a 20% inflation over a year's time if we incorporate assets rather than use an "inflation but only on things that don't show inflation" metric. And closer to 35% if you measure the peak-to-trough variance; a lot more stable than assets to be sure.
I'm not entirely enamored by gold. It certainly seems like a bad idea in the long term. But stocks are far, far worse in terms of price not matching fair value over the larger market right now. That might persist for a while so I'm not exactly withdrawing from stocks, but it feels downright foolish to be all-in on them as well. Holding cash is so-so, but I have too much of it in the wake of QE infinity. The options seem to be to hold and eat the cost of inflation, throw money at overpriced stocks, or pick some better safe haven. Towards that latter approach, gold doesn't seem like a bad option - maybe it's more reliable than the dollar.
What seems to be tough to come by is a way to invest in gold that meaningfully tracks its price. In terms of stocks, GLD seems close but clearly trails the spot price, IAU is worse, and FSAGX generally tracks it well or above the growth rate but its business is gold production rather than bullion. Dunno what else people look into as ways to buy gold.
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On February 12 2021 06:44 LegalLord wrote:Show nested quote +On February 12 2021 01:33 Archeon wrote:On February 11 2021 04:35 LegalLord wrote:
So, what do people think of gold? Thinking of investing in some because I'm sitting on more cash than I'd like in the wake of an obvious war on cash but don't really want to increase my stock position more than I'm already doing. An inflation-adjusted equivalent of cash, as gold portends to be, seems appealing for that purpose.
One trouble I've found is that physical bullion seems logistically problematic, and none of the gold ETFs seem to do a particularly good job of tracking the spot price of gold. Anyone have any insight on what the best way to invest in gold is? I doubt you're the only one thinking like that in a time where a global pandemic is ruining a lot of businesses and the usual safe havens don't really pay anymore. If I look at the gold price it was fairly steady between 2014 and 2019, but went up by over 50% between then and midst 2020. It has seen a steady decline after that, but still sits on ~140% compared to two years ago though, so I'd assume that the price is currently inflated and will continue to fall. Which fits with what I heard from my local expert who strongly advised against it somewhat recently when I was looking for a safe way to invest my money. Tbf many govs have pushed money into the market to combat Corona's effect on the economies, so real inflation was probably higher in 2020, but not to that extend. $1550 in January 2020, $1850 today. I would believe a 20% inflation over a year's time if we incorporate assets rather than use an "inflation but only on things that don't show inflation" metric. And closer to 35% if you measure the peak-to-trough variance; a lot more stable than assets to be sure. I'm not entirely enamored by gold. It certainly seems like a bad idea in the long term. But stocks are far, far worse in terms of price not matching fair value over the larger market right now. That might persist for a while so I'm not exactly withdrawing from stocks, but it feels downright foolish to be all-in on them as well. Holding cash is so-so, but I have too much of it in the wake of QE infinity. The options seem to be to hold and eat the cost of inflation, throw money at overpriced stocks, or pick some better safe haven. Towards that latter approach, gold doesn't seem like a bad option - maybe it's more reliable than the dollar. What seems to be tough to come by is a way to invest in gold that meaningfully tracks its price. In terms of stocks, GLD seems close but clearly trails the spot price, IAU is worse, and FSAGX generally tracks it well or above the growth rate but its business is gold production rather than bullion. Dunno what else people look into as ways to buy gold.
Phys. gold is awful if you look for yield but the best insurance against a financial or other crisis. It's rudimentary, tangible and can be bartered. I don't think that buying a tracking asset with a counterparty like GLD or a future is ideal for the same purpose, you're just buying an obligation to yourself and have to take them on their word that they have the gold in a vault that isn't leased or gets leased out.
It's stuffing money under the mattress while insuring against rampant money devaluation or unexpected crisis events.
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United States42971 Posts
On February 12 2021 08:41 Vivax wrote:Show nested quote +On February 12 2021 06:44 LegalLord wrote:On February 12 2021 01:33 Archeon wrote:On February 11 2021 04:35 LegalLord wrote:
So, what do people think of gold? Thinking of investing in some because I'm sitting on more cash than I'd like in the wake of an obvious war on cash but don't really want to increase my stock position more than I'm already doing. An inflation-adjusted equivalent of cash, as gold portends to be, seems appealing for that purpose.
One trouble I've found is that physical bullion seems logistically problematic, and none of the gold ETFs seem to do a particularly good job of tracking the spot price of gold. Anyone have any insight on what the best way to invest in gold is? I doubt you're the only one thinking like that in a time where a global pandemic is ruining a lot of businesses and the usual safe havens don't really pay anymore. If I look at the gold price it was fairly steady between 2014 and 2019, but went up by over 50% between then and midst 2020. It has seen a steady decline after that, but still sits on ~140% compared to two years ago though, so I'd assume that the price is currently inflated and will continue to fall. Which fits with what I heard from my local expert who strongly advised against it somewhat recently when I was looking for a safe way to invest my money. Tbf many govs have pushed money into the market to combat Corona's effect on the economies, so real inflation was probably higher in 2020, but not to that extend. $1550 in January 2020, $1850 today. I would believe a 20% inflation over a year's time if we incorporate assets rather than use an "inflation but only on things that don't show inflation" metric. And closer to 35% if you measure the peak-to-trough variance; a lot more stable than assets to be sure. I'm not entirely enamored by gold. It certainly seems like a bad idea in the long term. But stocks are far, far worse in terms of price not matching fair value over the larger market right now. That might persist for a while so I'm not exactly withdrawing from stocks, but it feels downright foolish to be all-in on them as well. Holding cash is so-so, but I have too much of it in the wake of QE infinity. The options seem to be to hold and eat the cost of inflation, throw money at overpriced stocks, or pick some better safe haven. Towards that latter approach, gold doesn't seem like a bad option - maybe it's more reliable than the dollar. What seems to be tough to come by is a way to invest in gold that meaningfully tracks its price. In terms of stocks, GLD seems close but clearly trails the spot price, IAU is worse, and FSAGX generally tracks it well or above the growth rate but its business is gold production rather than bullion. Dunno what else people look into as ways to buy gold. Phys. gold is awful if you look for yield but the best insurance against a financial or other crisis. It's rudimentary, tangible and can be bartered. I don't think that buying a tracking asset with a counterparty like GLD or a future is ideal for the same purpose, you're just buying an obligation to yourself and have to take them on their word that they have the gold in a vault that isn't leased or gets leased out. It's stuffing money under the mattress while insuring against rampant money devaluation or unexpected crisis events.
You’re taking their auditors at their word, not them. They get audited.
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United Kingdom13775 Posts
In case anyone is curious, ended up going with GLD. Good tracking to the spot price and provides protection against inflationary pressures. Less worried about the "immediate total collapse of the monetary system" scenario so bullion and its overhead cost seems quite unappealing.
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On February 05 2021 14:52 evilfatsh1t wrote:did he provide any reasoning as to why he is/was still holding? some of the comments speculate that if he sold at the top he would potentially be in trouble with the sec but im not sure why that would be, especially since some people dont consider the whole saga to be manipulation on wsb's part Show nested quote +On February 05 2021 14:45 KwarK wrote:
He was “only” holding 50k shares and options on 50k more by the end. He started on closer to options on 450k shares but liquidated a lot of them for $13m cash. when did he liquidate the majority? so he did in fact cash out a large portion near the top? good for him
He liquidated way before people started to notice him. If you look at some of his earlier postings, he didnt have the 13mill, then at some point, before getting super popular he had the 13mill, then a week later hes getting heavily noticed.
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On February 11 2021 08:43 micronesia wrote:
I read an article today advising people with security clearances not to directly invest in weed stocks haha.
I would think it's due to the nature of the government. Wouldn't it just blur the line of it being "federally illegal"? There's also a big reason why they have a hard time finding programmers from the valley...
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On February 09 2021 02:49 Blitzkrieg0 wrote:
I don't see the transaction costs of bitcoin ever making it a viable currency personally, but we'll see.
That's because BTC isn't that great as a currency. However, that's not the main argument that is driving BTC. BTC is being driven by the SoV argument. It's better than gold at being gold.
You don't use BTC as a currency. You take your money, and store it in BTC. Once, or maybe a few, times a year you exchange a small fraction of your BTC for local fiat, and use PayPal or any other existing infrastructure for that. BTC, at least for now, is the overwhelming winner in the SoV category, which also happens to be the most valuable and important characteristic of money.
Tesla getting in is big, but if they're the only one the price is going to drop back down significantly.
They don't appear to be the only ones getting in. From the analysis I've seen, a far larger than normal chuck of the drive from 40k to 48k appeared to be driven by large transactions, which most likely are more institutions jumping in the game. Beyond that, Saylor's conference had something like 7000 corporations that participated.
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Dumb question but if BTC is a worldwide currency then how can it be regulated without a worldwide "Bank/Committee" that some detractors say needs to happen to be taken seriously? And if that were to happen then everyone would have a part in it thus preventing it from being traded on a market like other currencies, no?
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On February 13 2021 04:57 LegalLord wrote:
In case anyone is curious, ended up going with GLD. Good tracking to the spot price and provides protection against inflationary pressures. Less worried about the "immediate total collapse of the monetary system" scenario so bullion and its overhead cost seems quite unappealing.
Right on, hope it works as you need it to!
I'll be in the woods with my precious rocks if you need me.
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On February 14 2021 07:29 {CC}StealthBlue wrote:
Dumb question but if BTC is a worldwide currency then how can it be regulated without a worldwide "Bank/Committee" that some detractors say needs to happen to be taken seriously? And if that were to happen then everyone would have a part in it thus preventing it from being traded on a market like other currencies, no?
The BTC appeal is that it doesn't require government regulation, and more important that it's supply is well known and can't be artificially raised like other currencies. To answer your question, the detractors are wrong; people and corporations are free to adopt bitcoin without government meddling.
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On February 14 2021 07:29 {CC}StealthBlue wrote:
Dumb question but if BTC is a worldwide currency then how can it be regulated without a worldwide "Bank/Committee" that some detractors say needs to happen to be taken seriously? And if that were to happen then everyone would have a part in it thus preventing it from being traded on a market like other currencies, no?
Basically what GoTunk said above. BTC itself cannot be regulated. You can try to set up regulations for exchanges and such in a given country....but BTC can be exchanged P2P without any need for exchanges. Also VPNs and you can easily be on a different exchange.
As for needing that to happen to be taken seriously....was there ever a worldwide bank/committee for gold? For diamonds? For silver? That alone tells you that's not a requirement to be "taken seriously".
The only thing required to be taken seriously is that people want the currency/commodity of choice and are willing to trade for it.
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Am I stupid for thinking a set amount of bitcoin is some kind of magic thing? If anything, instead of inflation, it'll just make a single bitcoin over time more and more valuable.
You'll have scenario's where instead of now, where you'd need to pay 10000000 USD to buy a random car due to hyper inflation, you'll need to pay 0.000002 BTC to buy the same car. Or are prices to be stabilized at a certain point due to the fact of a set amount?
The year is 2050, and to be a millionair, all you need is a singular bitcoin...
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EPT
