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Gold And The Sinking Dollar Ship
Gold. It's -- umm -- shiny. I'll say that for it.
Whenever I run out of material or when it's, say,
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Around 2000, I invested $12,000 and bought 40 ounces of gold for right around $300 an ounce. It has made money, and I still own about half of it. Around that same time Apple stock was under a buck a share. If I had bought the stock instead, it would be worth millions today. (There is no such thing as a forward stock-split in gold either.) Keep that in mind.
Conversely you might have bought two of the hot dot stocks back then = Presstec & Iomega. Or the stalwarts GE & GM.
Or, I suppose you could have bought 20 stocks, one of which was Apple and all the rest went out of business and still beat gold. It’s that diversification thing I am hoping for.
Keep in mind this is Apple pre iPhone and even pre iPod… their market was classroom computers…
I was actually a teacher at the time and used Apple computers in my classroom. iTunes was maybe our first clue that Jobs was headed in the right direction.
I used to have an Iomega Zip Drive. It was a great product!
Rejoinder rejoinder
H-Man, while gold may not save a sinking ship it is a good asset to have when you limp into port after a bad storm.
But gold is about the last thing you want on a sinking ship (after lead). But you might be able to fashion some sort of crude flotation device out of Trump meme trading cards and oversized MAGA banners. Make some room in your portfolios before it’s too late!
“If more of us valued food and cheer and song above hoarded gold, it would be a merrier world.”
~Thorin’s goodbye