I think a lot of other people had gained on this one but I dumped almost my entire portfolio on two different brokerages into BP at around $59 and shorted it straight to high 20's. Gotta love that soil spill.
Just cut my position in half for GLD after buying a truck load in early 2005. Take some money off the table when many suckers are becoming gold bugs.![]()
LOL, that's the same "rationale" your adviser and portfolio managers say repeatedly, like talking heads at CNBC in order to convince no offense sheeple to put their money on Bullion Funds of the world. Better yet, some are even aggressive enough to persuade the sheeple to get greedy and buy on leverage/margin.Not sure if GLD is 100% backed by physical bullion. CEF.A,
GTU.UN and SBT.UN are better investment vehicles for
exposure to gold and silver price IMO.
Sure but it's always prudent to take some profit off the table by cashing in a portion of the gold position.I won't be surprised to see a major pullback in gold price
to as low as $1000 within the rest of 2010. A core holding of
gold bullion kept to within 15% of your total assets should
do fine on a 1--5 years time frame. I am expecting gold to
break $1400 in one year given its positive underlying
fundamentals--the ongoing debasement of the USD which
sees no end in sight.
Not so sure for corporate bond, at least not yet.If there is any major bubble in global finance to watch
out of it is the government and corporate bond in general rather than precious metals that investors should underweight IMO.