A few years ago, many folks game me the smartass oneliners when I disagreed with their new economic theory that gold was a dead investment. Now, my gold fund shows a 1,000 percent return. I wonder what they are getting.
Many on FR have been dismissing gold all way up from $275. Gold was frequently discussed on the Market Wrapup threads back in the day. After a while people got sick of the constant bashing and moved over to Freedom4um.
The 'smart' money is getting hammered.
http://www.freerepublic.com/focus/f-bloggers/1900897/posts 9 /23/07
I have been stockpiling Silver and buying some Gold too on my modest income for the last year or so. Everyone made fun of me. They're not laughing now, and a few of them have even come to me for advice on where to buy.
Let me see than, when my roommate was telling me to buy gold in 1980 because it was going over 800 oz, I should have bought it at about $400 - $600 an ounce. In todays dollars (inflation adjusted) I would break even at $1000 - $1502 without any profit. I will just keep on buying hard goods with my fiat currency thank you very much.