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3 comments on Chart of the Day - Wednesday 23rd January 2008
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This Bear Market will seem like the good old days once fuel rationing comes in and investors no longer have confidence that they system will provide them with the security they crave.
Peak oil in 05 and Peak coal in 25 provides little in the way of evidence that our lifestyle is secure - IMHO once that information settles within the consciousness of the investing public then we are in for free fall - and those who accessed their super prior to 2010 and invested it in something really sustainable will continue to thank their lucky stars!!!
I agree completley. I had a heated argument with my "financial adviser" in early December about rejigging my super account get it all into a cash account pending us working out how to get it into gold. The FA told me I was panicking and that the market had never looked so good. "Chindia was going to make the boom go on forever" he said. I stuck to my guns and insisted that all managed funds be cashed out. Which he did. Lucky.
I have never really taken much interest in my superannuation, probabaly like a lot of people who are not nearing retirement anytime soon. But my education here at TOD got me thinking a while back about where it was invested. My profile was aggressive investing which means my little stash was highly exposed to a crash. It was great while it went up. As I said i wasn't much but it had grown quite a bit in the last couple of years adn I didn't relish the idea of losing it. Is till don't and see gold as the only form of currency that will maintain its buying power, regardless of its nominal value.
The trouble with most retail super funds is that they can't get an ongoing fee for investing in gold. There is no income for them to siphon off the fees so they just don't do it. They spin this rubbish that gold is not a good investment, and I do agree, gold is not an investment, it is the ultimate cold hard cash, while dollars are decideldy less hard and warmer.
Despite the big rallys of Wednesday and today, I think that there is more losses to come. They will probabaly not be as dramatic, 20 points here, 30 points there, up 5, down 15 etc. The way Ben and George are splashing round the cash, there is only one way for the USD to go and that is down.