Didn't see the show due to not having a TV but I would be interested in knowing how Eddie Hobbs advised people to buy into gold - e.g. coins, bullion, etf's ...
You wonder though is this too late in the bull run for many as unless you're in gold and metals for the long haul (like some here) many of these commods may be see a correction in the short term if oil continues its slide or doesn't go back up for a while and stocks keep rising as a result, i.e. why wasn't Eddie advising all this a few years back instead of now when there is a chance the small investor could get burnt in metals in the short to medium term.
Not that I don't think Eddie Hobbs gives crap advice - I've read that he suggests getting your mortgage in US dollars.
Didn't know you can do this. Is it really a practical option? Probably would be a very good option:
a) US dollar likely to depreciate
b) Could get a fixed for a full term of the mortagage at reasonable rates
a) is in the short/medium term
b) is long-term
Seriously, its rubbish advice given in what was the current situation at the time of €1:$1.30 last year.
Possibly suitable for large corporations etc, put just plain daft for your average Irish property owner who can barely withstand a 1% interest rate rise from historically low levels, never mind the volatility of the currency markets over the course of 20+ years!
Agree that it is a significant risk and as such probably not suitable for the average punter, but nevertheless its a risk that could pay off very handsomely.
How long do you think the imbalances are likely to take to unwind? - probably many years with the dollar drifting down all that time. Once the imbalances finally unwind move the mortage back into Euros - You could easily knock 30-40 percent off the mortgage and have the safety of a long term fixed rate to boot
Central banks may have dumped far more gold on the markets over the last three weeks than officially reported, accounting for the sudden plunge in prices that has stunned investors.
[/FONT][FONT=Arial, Verdana, Helvetica, sans-serif]Many empires have come and gone since man first stood on two legs. None, as far as we know, ever went in such an absurd way as this, floundering in a war against nobody, financed with money it doesn't have.
Looking to buy some more physical gold. Gold shares seem attractively priced as well.
The see-saws in the rally are getting narrower and gold has struggled to get over the $600 mark. It could swing either way. I'm not expending all my money on it in case it breaks lower (say sub-$550) but it's hard to resist such an attractive price.
Long term these prices are going to look like daylight robbery. I can't remember the analyst but I do remember the quote:
"The price of gold will end the decade with three trailing zeroes. The big question is - what's the number in front going to be?"
Are we looking at a situation whereby €600 gold today could be worth, say, $5000/€1000 in a few years time because the USD has tanked against gold and the euro together?
So I guess it comes down to the first of the two constants in investment psychology.... fear and greed.
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