[lbo-talk] 12%, plus

John S Costello joxn.costello at gmail.com
Mon Jan 7 16:41:49 PST 2008


This sounds like a scam to me. Why would you want untraceable gold? If you want physical gold you can just buy Krugerrands (or your local mint's version of the same -- Canada will sell you a 100kg gold coin if you like --http://www.cbc.ca/money/story/2007/05/03/goldcoin.html ).

I don't understand why gold should be valuable, but I do understand that other people think it is, and who am I to argue with them? So I put my (small) IRA into a Precious Metals & Minerals fund (USAGX -- http://finance.google.com/finance?client=ob&q=USAGX ), just for kicks.

It doesn't buy gold, but it buys mining and mineral companies in the precious metals segment. It did pretty well last year, but I wouldn't put a ton of money into it; it's really, really volatile, and like I said, I don't understand the underlying value proposition, which seems like pure superstitious psychology to me.

On Jan 7, 2008 4:23 PM, Marta Russell <ap888 at lafn.org> wrote:
> Thanks for the valuable caution. How does one find the genuine
> product? He was talking about pre-1933 gold that is "untraceable."
> He is Jonathan Rose.
> Marta
>
>
> On Jan 7, 2008, at 3:27 PM, Jordan Hayes wrote:
>
> >> What about gold investing?
> >
> > All precious metals have been doing well lately for a variety of
> > reasons; gold has gone from $350/oz to $850/oz in the last 5 years.
> > Past performance is no guarantee of future results.
> >
> >> I was told by someone who is trying to get me to buy gold bricks ...
> >
> > I have seen that movie, and you won't like the end :-)
> >
> > Buying actual gold, like buying cash currencies, is tricky business
> > for
> > a small investor. I'd urge anyone to do a lot of homework before
> > investing in something unconventional like physical gold.
> >
> > /jordan
> >
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> >
>
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