“My general rule of thumb is that, when my barber starts talking investing in something, it is time to get out... from baseball cards to dot coms to investment banking. He was starting to invest in real estate in 2007 and it busted in 2008. About 3 months ago, he started talking about his gold investments. I give it 9 months before the bottom falls out.”
So the moral of your tale is that your barber was late to real estate and early to gold?
There was a financier during the depression, I don’t
remember his name but well known who said that
when his shoeshine boy started giving him stock tips
he knew it was time to get out of the market,
he did and didn’t lose it all.