> His advice... even at todays inflated prices... start moving all your financial
> assets into hard assets like precious metals and agricultural commodities. Nothing
> else will retain its value during hyperinflation except things with inherent
> intrinsic value. "You're not trying to grow your portfolio, you need to be trying to
> protect it from devaluation."
The problem I have with this kind of advice is that they always end up talking about investing in gold. There are very few applications where gold is the best or only metal that will work.
The only reason gold is "valuable" is because other people say that it's valuable. Sure, scarcity does have something to do with it, but gold just isn't that useful in the grand scheme of things. Basically, gold is used in jewelry, dentistry, electronics (in very small amounts I might add), and that's about it.
If you're talking metals, there are plenty of metals that are far more useful... aluminum, copper, lead, nickel, tin, zinc, just to name a few.
I've got a decent amount of money invested in lithium (think batteries) by way of my shares in the Chemical & Mining Co. of Chile (SQM).
I also have some money invested in uranium by way of my shares in Cameco Corporation (CCJ). I'm kicking myself because the stock dropped big-time right after the incident in Japan, then bounced right back up a few days later. I was going to buy on the dip but I waited too long and missed it.
GroovyMAME support forum on BYOAC
|
Previous 
Index 
Next 
Flat 
Re: I'm sober now. Gulp.
Reply
