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Mark Uttley

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Everything posted by Mark Uttley

  1. But when other banks merged were there mass withdrawals from people who had accounts in both banks? Why do you suppose Lloyds TSB have taken HBOS on board?
  2. Actually they're both up. Does anyone know if any other banks have ever merged? (Apart from Halifax Bank of Scotland and Lloyds TSB?)
  3. Wait a minute. I thought we agreed earlier in the thread that the gold price was being suppressed by the Fed in order to give an impression of economic stability. Ben Bernanke must have nipped to the loo, or something. Expect the price to come tumbling back down before the days out.
  4. Gordon Brown, the sub-prime minister. Lol, nice one Jeff!!
  5. So why isn't gold moving upwards on the Lehman news? It's barely up on Friday's close.
  6. That's a lot of YouGov surveys!
  7. Again, thanks for replying, but there are a few things in your post that I am unclear about. What do you mean by "management issues" and "sector problems"? Also, what tax advantage does gold have over shares or bonds? I understand that there are some gold coins that are exempt from CGT, but when I have looked at these the trading costs on purchasing and selling seem prohibitive. At least with CGT you only have to pay when you have made a profit! Only if you ignore yields. Bonds are a way of preserving wealth too. For every Lehman or even Enron, there is a Microsoft or WalMart. You can avoid picking dogs by picking Indices. I've no doubt that Jim Rogers is a very skilled investor with a great insight into trading gold, but there are many dangers in trying to follow his trading techniques if you don't understand them as well as he does. The same goes for trading stocks or anything else for that matter.
  8. Thanks for replying. Actually, I don't think that either of the above sounds crazy at all. A properly diversified combination of stocks and bonds is a recognised strategy, as advocated by investment guru Benjamin Graham. It nearly always outperforms a single asset class, such as gold, over the medium to long term.
  9. This seems a strange policy to me. I suppose you could liken it to the "Buy and hold" strategy favoured by the likes of Benjamin Graham and Warren Buffet with regards to shares, but it has a major disadvantage. It's disadvantage is that shares have a yield and gold does not. In fact, I would argue that gold has a negative yield, as it incurs costs in storing it, (often conveniently ignored by goldbugs, along with excessive trading costs.) Another time I heard this "Never sell, ever." was from a NZ property developer called Dolf De Roos. He argued that property cycles didn't affect his decision to buy property as he never intended to sell. Once again though, property has a yield and provides him with an income. There are other examples of assets which produce no yield. Works of art, and classic cars for instance. However, there is an aesthetic pleasure to be had from owning a Picasso or a Bugati. Do people really derive the same pleasure from owning gold? I can understand "Art for art's sake", but "Gold for gold's sake" doesn't make sense. This Jim Rogers sounds like a modern day miser to me.
  10. This seems a strange policy to me. I suppose you could liken it to the "Buy and hold" strategy favoured by the likes of Benjamin Graham and Warren Buffet with regards to shares, but it has a major disadvantage. It's disadvantage is that shares have a yield and gold does not. In fact, I would argue that gold has a negative yield, as it incurs costs in storing it, (often conveniently ignored by goldbugs, along with excessive trading costs.) Another time I heard this "Never sell, ever." was from a NZ property developer called Dolf De Roos. He argued that property cycles didn't affect his decision to buy property as he never intended to sell. Once again though, property has a yield and provides him with an income. There are other examples of assets which produce no yield. Works of art, and classic cars for instance. However, there is an aesthetic pleasure to be had from owning a Picasso or a Bugati. Do people really derive the same pleasure from owning gold? I can understand "Art for art's sake", but "Gold for gold's sake" doesn't make sense. This Jim Rogers sounds like a modern day miser to me.
  11. So that's their fiendish plan! And yet they laughed at us when we said that threads about the price of bread should be allowed on the main forum.
  12. I'm holding fire until the average house price is equal to 100 togas, or 35,000 loaves of bread. I haven't decided whose bread yet.
  13. So gold is an asset, and as such goes up in an inflationary period (just like houses). And it also goes up during a deflationaty period, because gold is money. Isn't gold BRILLIANT!!!!!!
  14. Gee, I wish gold would hurry up and get to $850 so I could buy some.
  15. We're gonna need a new spokesperson. Does anyone have a nice pair of tits?
  16. Are you sure about that? Haven't the US government demonstrated that they will use any means available to support their economy? I thought that that was what the SM bounce was about.
  17. So. What do we all think will happen to house prices?
  18. How come it's never the other way around? Maybe ETFs are what caused gold to go so high in the first place.
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