Followed by 4
Ignored by 2
In United States
Registered Dec 02, 2009
Your whole life is summarized by the credit card you carry.
You have your debit card,
you have your no benefit credit card,
you have your gold, platinum and black card.
My old boss and father-in-law carries the Amex Black, which inspires me to work on the same. It says a lot about yourself and what you demand of yourself. Some poeple want surf and turf, some wants caviar and Foie Goie yet some just want a full stomach.
What do you want in your wallet?
SFace's most recent comments:
- On 2 Dec 2013
Pledge/Petition to "not buy until",
No, everyone has their own "agenda" so good luck with that one. Plus you are in Fremont, so you know everyone from various background has their own agenda.
Our lawmakers at the county level are old folks who generally love higher price and have parents/friends who benefit and/or indirectly benefit from it (government worker). So you're not going to get the support. Homebuilders collectively have learned "restraint" anyway and they are very well happy with the moderate pace.
- On 2 Dec 2013
Mish Buys a Basket of Miners,
This thread should be re-titled "Mish gets raped on a basket of miners". Chalk up another disaster for the guru.
I would suggest waiting until next year.
Don't really like Mish, but the miners are their own animals. I believe your assertion is, gold won't recover until next year. Miners can easily recover prior to that, much like they did at the end of 2008. Gold miners made huge gains while gold didn't do much at all at the time.
There are basic variables working against gold, long term bonds, and miners in 2013. It is called realized capitals gains(loss)
No doubt, Corporation, partnerships and individuals are sitting on huge capital gains, some of which are likely realized. With new Obamacare tax on investment income, the higher tax bracket on cap gains, you can bet every investor in the US is looking to sell their (realized them) losers to offset the realized gain. That is a huge difference between 2013 and 2008 and every investor in America should know these things going in.
Naturally there's only a few widely held stocks that are true losers that will be a great tax offset, it just happens Mish hold's most of them himself or under Sitka Capital. At this point, I have no idea who would want to invest with Sitka.
If the theory holds correct, everyone who has been holding stocks such as Newmont will sell in 2013 to keep tax money away from the federal and state now, which is not insignificant. A lot of it is probably done in Oct-Nov, but I do expect more tax loss selling in December. There is not a lot of inventory of losers so I expect tax loss selling to be more extreme than in the past because quite frankly, anyone that pulls out their portfolio should see a sea of green with maybe a few red like Newmont. If you need offsets, there is nowhere else to go other than to sell the damn thing.
After everyone who needs to sell, sold, it is riped to be picked up by late December or early January. The RSI indicator is likely hovering in the 20's for the last three months which means nothing but sell on lower bid. After all, the investment basic is buy when everyone who has motivation to sell, sold even if they don't want to. Gold may be a decent bet in 2014 anyway so it is a great rewards/benefit play boosted by various factors such as the one noted above. In my view, this is a very good risk vs. rewards play because it is set up perfecting to succeed.
The only question is how heavy to play it and how? I actually hate miners having the benefit of going to Vancouver to a mining company symposium and generally don't like what I see with the bunch. But it is a strictly short term play. at this point, leaning toward GDX for a simple play that covers every major gold miner in this world.
- On 2 Dec 2013
Black Friday Debate: What are the US' problems and how would you solve them?,
Things rarely stay stagnant, you either trend up or trend down. More people are trending down than up which is what this post is referring.
Which means understanding the factors on who is trending up and the common base factors. In the rest of the world. Asset holders wield all the power especially in a stable country like the US where wealth and land are passed for many generations and many more to come. The people trending up are setting up the lives.for the next generation and so on. If you dont have wealth, the financial barrier will be harder and harder to overcome prospectively. Those who can't keep up will trend down. Theres 400 seats in a plane. It doesn't matter what my mom paid to fly, whether you can travel in a plane is determined by your ability to compete for one of the 400 seats.
When it comes down to it. All government at it's core is to determine how to grow the pie and how to cut it up. The US pie has been growing but the slices are allocated a little differently.
When ultra wealthy like mitt Romney was paying an effective tax rate of something like 15%, you know the romneys are set up for several generations at the expense of the middle class and poor. Investment behaviors are not altered because the tax rate is 15% vs. 35% as there is 65% reason to do so and the US market is too lucrative not to have investment dollar anyway.
The rich will be rich. But some decisions make the problems worst than it needs to be so iwog is generally accurate on these things so I will not elaborate further.