Posted on 08/27/2005 11:08:50 PM PDT by Roberts
Now you're talking about timing.
A person has ro know when to cash in his chips and walk away.
On the other hand, Ty became a multi-millionaire.
I think it has. And the 'gold' bandwagon was right behind it.
Real estate values have been skyrocketing around here for at least five years. I was unaware that gold has been a good investment as well. Anyways, the beauty of real estate investment is that it is always done (at least by smart people) with OPM.
Perhaps not as well as real estate, but not too shabby.
I've been hearing a ton of ads recently touting both real estate and gold as great investment opportunities -- buy now! That's why I say it's a good time to sell.
But what do I know -- I rode the stocks all the way down.
I know nothing about precious metals except the very rule-of-thumby rule of thumb that they go up when world stability goes down and vice versa. One thing I have seen that is very interesting is that vacation area housing (mainly the seashore) has gone crazier than California. The thing about that is that when economic recession hits (and it always does, sooner or later) the first thing people will try to sell off is their second home. THAT's when I'll buy one.
I think your instincts are correct - - sell when everybody's buying and buy when everybody's selling.
Yeah, timing is the basis for all Ponzi schemes. The first payouts go to the first investors from later investors. That becomes the basis for the pyramid until it ultimately collapses when a growing pool of foolish investors can no longer be recruited to grow the scam.
Yes, Ty made a fortune from Beanie Babies but there are no gated communites full of others who did likewise.
Now you're talking about Social Security.
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