Gold & Silver: Take the Money and Run!
(Originally published March 3, 2011 at www.TheRightHuff.blogspot.com.)
There are investments, and then there are gambles. You know the difference between the two when every investment magazine and website is touting the same financial asset; in this case, gold and silver. When every Harry, Dick and Jane owns the same asset, it is time to get out. Didn’t we just learn that lesson with real estate? And how many months later did everybody start repeating that mistake with precious metals?
“But it’s different this time!” Only a novice speaks like that, and it is always the novice investor who gets caught holding the bag when the investment du jour finally starts to fall. Mutual fund managers have seen markets rise and fall. They know how to handle frighteningly high markets. So do investment firms, and pension fund managers, and families with generational wealth. They will all sell their gold and silver before novice investors do, and that will drive the price down….way down. And the novice will appear as a deer in the headlights, looking back at the profits which just disappeared, and wondering how on earth they salvage their investment.
I already cashed in my gold and silver gambles. I am not greedy. I am happy that I made money in them. I have never looked back to see what price I sold at and whether the price went even higher. It’s a moot point. People gamble to make quick money. If it works, God bless them. If it doesn’t work, they get spanked, don’t they? And hopefully, they will learn lessens from their forays into the financial markets, so that the next time the investment du jour goes up a ridiculous amount, they are wise enough to take the money and run.
Happy investing!
Crista Huff
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