My Unfortunate Knowledge

[katharina]

If I feel that I can speak with some kind of authority on any of these threads, it's gold. And my advice would be don't be freaked out when the market seems like it will never go up again and sell gold without totally researching it.

We sold pretty much of it a few years ago during a market slump. I think it was like $369 when we sold, maybe a little less. Well, if anyone knows the price of it these days, you'll understand why it was a HUGE mistake. And NOW if we'd want to buy again, we'd pay a whole lot more than we did the first time. It's maddening, but taught me a lot about the market. I was much too jittery back then, I sure hope I'm over that now. :nod:

 

[Mirage]

Yep, it's the same way with any market. I've jumped the gun early on some stocks I owned and missed out on thousands of dollars in money I would have made if I would have just waited for a few more days. (Daytrading)

I don't own any gold myself, but it really seems to be a very good investment. What type of return did you make when you sold? Did you make money or lose money?

 

[katharina]

I don't own any gold myself, but it really seems to be a very good investment. What type of return did you make when you sold? Did you make money or lose money?

This is the painful part... but not as bad as it may have been. We (ugh!) just about broke even, maybe lost a little bit. It had been higher, we were thinking "oh look, gold's going up and we have a lot of it, wow!" and then it started going down. When it kept the downward trend, the thought was that we'd better get rid of it before we lose all that money because it didn't seem like it would go up again. Well NOW it's very high. I'm not sure I'll ever remove my dunce cap over that one. :shake:

If, to speculate, we'd be selling it NOW, it would have been quite a killing... but I try not to think about that.

 

[mamab]

I would say that if you're going to sell gold, you don't want to sell it all. It goes in cycles. Up for several years, then dips. But, I don't think I'd EVER completely sell. There's too much of a chance for it to recoup.

 

[katharina]

I would say that if you're going to sell gold, you don't want to sell it all. It goes in cycles. Up for several years, then dips. But, I don't think I'd EVER completely sell. There's too much of a chance for it to recoup.

Yes, I know this now :nod: and you're right. I guess a lot of it depends on how long you want to wait for it to be high again... but you never know when the low years will come until it starts dropping. Like all investments, it can be stressful.

 

[mamab]

Sometimes I think they should call it the "Stress Market" instead of the "Stock Market." The name fits better, don't you think? I find investing too stressful, that's why we have our investments with someone that knows what they're doing. We actually made almost $50 this last month )

 

[katharina]

Sometimes I think they should call it the "Stress Market" instead of the "Stock Market." The name fits better, don't you think? I find investing too stressful, that's why we have our investments with someone that knows what they're doing. We actually made almost $50 this last month )

Spend an hour... no, 10 minutes... heck, FIVE minutes on the trading floor at Wall Street if you want to know what stress is. :-o