[sitetest]

My father had a friend who put all his money into gold in the late 1970s. I think it cost him something like $800 per ounce.

Great store of value.

[TEEHEE]

Your father's friend might as well have painted a target on the crack of his butt. Look at a chart of that bull market: gold went from a leisurely $200 almost straight up to the $800s, in the course of one year. Anyone who jumped in at those levels was taking a considerable risk.

[Willie Green]

Great store of value.

Yeah... your friend's dad was a johnny-come-lately boob who should've bought in when it was < $40 in '70.

[eyedigress]

If he would have bought in 1972 instead of 1979 he would be rich. What's your point, buy high - sell low?


1972 High 70.00 Low 44.00
1973 126.00 64.00
1974 195.00 117.00
1975 185.00 135.00
1976 142.00 102.00
1977 168.00 177.00
1978 243.65 165.70
1979 524.00 216.55
1980 850.00 474.00
1981 599.25 391.25
1982 488.50 296.75
1983 511.50 374.25
1984 406.85 303.25
1985 340.90 284.25

2000 325.50 264.10
2001 291.45 256.65
2002 342.75 277.75
2003 417.25 319.90
2004 454.20 375.00
2005 524.10 ???.??

[hubbubhubbub]

Pity your father's very dumb friend, who would buy something AFTER is has risen 2300% in 7 years.

[Kozak]

My father had a friend who put all his money into gold in the late 1970s. I think it cost him something like $800 per ounce.

Really? I bought a bunch between 260 and 350. I think it's a pretty good investment. See the idea is to "buy low and sell high". Not vice versa. Lots of people who bought the Nasdaq at 5000 feel the same way about the stock market as your dad does about gold.

[Mulder]

My father had a friend who put all his money into gold in the late 1970s. I think it cost him something like $800 per ounce.

He probably brought tech stocks in 1999 and invested in real estate last summer.

The general public never gets on board until the final stage of a bull market, and then they hold on too long.