Search found 1464 matches

by Stonebr
Mon Apr 25, 2011 11:01 am
Forum: Personal Consumer Issues
Topic: Mexico Dangers
Replies: 126
Views: 66832

Yes, you are over-blowing the risk. They are probably in far greater danger on U.S. highways.

You can't go through life hiding under a bed. I've been to those countries and loved every minute. The police won't shake them down.
by Stonebr
Thu Apr 21, 2011 9:20 am
Forum: Personal Investments
Topic: Bank CD Pegged to Equity Prices
Replies: 14
Views: 2116

Gimmicky product. I don't like gimmicky financial products because it's too easy to hide the expenses and gotchas.
by Stonebr
Thu Apr 21, 2011 8:45 am
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting may be a long term wash or even a loss..
Replies: 52
Views: 7692

Tax loss carry can also be used to offset gains on collectibles/precious metals that would otherwise be subject to minimum 28% tax bracket.
by Stonebr
Tue Apr 19, 2011 3:40 pm
Forum: Personal Consumer Issues
Topic: Are film type SLR cameras a thing of the past?
Replies: 41
Views: 5239

walnut wrote:For the sake of an argument -

Working with film is a visceral experience that forces you to think about
each and every frame you shoot. The electronic (digital) experience is a
black box event that just can’t compare. An apt analogy is the modern calculator.
Another way to put this is that digital lets you take 500 pictures that suck and then delete them all for free. I think I see things better when I'm shooting film because every picture has to count. It's a hobby with me -- an old Nikon, a few fixed lenses and Fujichrome. A friend calls it my Flintstone camera.

But for snaps of the family, digital works fine. I let my wife deal with the digital stuff. Messing with all those computer files is too much like work.
by Stonebr
Tue Apr 19, 2011 1:36 pm
Forum: Personal Consumer Issues
Topic: Oil Change Irritation - UPDATE 4/25 7:29 AM
Replies: 84
Views: 13565

Just avoid these clowns.

Lots of places will be happy to change your oil for a reasonable price.
by Stonebr
Tue Apr 19, 2011 11:50 am
Forum: Personal Consumer Issues
Topic: 12v tire inflator
Replies: 18
Views: 6961

I've been using a "Slime" brand inflator for a couple of years -- also bought at Wal-Mart. Works fine. My tires are always perfectly inflated. These things don't last forever, but they are handy. I had one years ago that was a freebie with a new set of Michelins. It worked for 5-ish years before burnout.
by Stonebr
Tue Apr 19, 2011 10:17 am
Forum: Personal Consumer Issues
Topic: Are film type SLR cameras a thing of the past?
Replies: 41
Views: 5239

tibbitts wrote:I find it very disappointing that students are being taught film. I'm not saying that there shouldn't be some electives in film/platinum/whatever-historical-processes available at the end of an undergrad, or certainly in a graduate program. But starting out with film would be like having computer students start out learning to use a card punch, and read cards by holding them up to a light.

Paul
Art students are also taught oil painting. Do you find that disappointing?
by Stonebr
Mon Apr 18, 2011 2:19 pm
Forum: Personal Consumer Issues
Topic: Are film type SLR cameras a thing of the past?
Replies: 41
Views: 5239

Re: Are film type SLR cameras a thing of the past?

coffeehubcap wrote:Digital cameras are great but is anybody buying the old film type SLR cameras? Who would be interested in buying quality lenses and camera bodies that aren't digital?
Yes there is still a very active market for film SLRs. Art and photography students are among the buyers, as well as pros and serious hobbyists. Check ebay for current prices on film camera bodies. The Nikon FM10 -- a fully manual 35mm SLR -- is still produced by Cosina. Older Nikons, Canons, Olympus, Contax, Leica, are still pretty hot items in good used condition.

For ideas check out Ken Rockwell's excellent website: www.kenrockwell.com
by Stonebr
Fri Apr 15, 2011 1:23 pm
Forum: Investing - Theory, News & General
Topic: Tax Lot within TIRA and or Roth
Replies: 4
Views: 647

Jay69 wrote:So for me, I have no plans to make non-deductible contributions so no need to file form 8606 and no need to keep track of tax lots. Makes sense to me.

I never thought about creating a tax lot to track performance or lack of. Is this something some of you do?

If I end up up doing on average 2-3 trades/month that could turn into a pile paper and or files over the next 40 years!
IRA is an ideal place for a 'fun money' trading account. Tracking the overal account might make sense. I did for a while and realized I was trailing the market with my "fun money" IRA. So I threw in the towel and went VTSAX.
by Stonebr
Fri Apr 15, 2011 12:44 pm
Forum: Investing - Theory, News & General
Topic: Tax Lot within TIRA and or Roth
Replies: 4
Views: 647

File Form 8606. Done.

You might want to track this for your own amusement to measure performance, but the IRS is going to tax it the same (or not, in the case of Roth) regardless of whether you traded Cocoa Futures or bought CDs and a bank.
by Stonebr
Wed Apr 13, 2011 7:26 am
Forum: Personal Consumer Issues
Topic: Murder Mystery Authors
Replies: 117
Views: 16779

I like 'em with an international flavor:

Maj Sjowall and Per Wahloo co-author the Martin Beck detective series based in Sweden.

Georges Simenon's Inspector Maigret in the grittier streets of Paris can't be beat.

Here in the U.S. nothing's better than Raymond Chandler.
by Stonebr
Fri Apr 08, 2011 9:32 am
Forum: Personal Finance (Not Investing)
Topic: SSA will no longer mail annual statements of earnings
Replies: 43
Views: 5192

Annual statements beginning in the year one turns 59.5 seem reasonable.
by Stonebr
Fri Apr 08, 2011 8:54 am
Forum: Investing - Theory, News & General
Topic: Average amount saved for retirement by age
Replies: 148
Views: 40666

rrosenkoetter wrote:
market timer wrote:25: good education
35: good career, paid off student loan debt
45: $300K
55: $800K
65: $1.5 million

Per person, in today's dollars, including home equity in primary residence.

This would be for someone hoping to support a ~$50K/year lifestyle per person. It wouldn't even require a taxable account.
And remember that $50k a year with another $20k SS, and no mortgage payment and no need to save anymore is easily equivalent to a $100k lifestyle.
Per person? Sheesh! You guys spend a lot more than my wife and I do.
by Stonebr
Wed Apr 06, 2011 2:59 pm
Forum: Personal Investments
Topic: Help!
Replies: 5
Views: 1336

Re: Help!

bamiller wrote: Half tempted to roll over the current IRA and ESOP in the future to something like Vanguard's Balanced Index Fund and poo on the advisors. Any advice would be greatly appreciated.
This would be a superb interim plan while you read up on Boglehead style investing.
by Stonebr
Mon Apr 04, 2011 5:11 pm
Forum: Personal Investments
Topic: Help for 65 y/o with cash disbursement
Replies: 5
Views: 1080

I suggest 100% CDs. This will work best if she can get comfortable with online banking. Or buy a fixed annuity. A single life annuity for a female age 65 would pay $354 a month for life on an investment of $60,000 according to www.immediateannuities.com. However, when she dies there would be nothing to pass on to heirs. Bond funds and Vg Target Retirement could work, but she has to know that they can go down in value. She could set them to pay out quarterly dividends and direct deposit to her bank account. My mother does this, and it has helped her get used to the fluctuation in market value. When her balanced fund (30% stock/70% bond) went down in the 2008 crash, she was pleased as peaches when the dividend check came and it was the same a...
by Stonebr
Mon Apr 04, 2011 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: limited partnerships: getting out of same
Replies: 7
Views: 3237

If there's a secondary market for these, I'd suggest you sell. You'll get pennies on the dollar, however. The buyers are looking for bargains.

I was in one of these bloodsuckers in the late 80s to early 1990s during the previous RE crash. It took years to unwind. Fortunately I held it in an IRA so I didn't have the tax issues you have, but the custodian charged an arm and a leg. A friend had units of the same LP in taxable and did have tax reporting issues. I held to final liquidation; my friend sold to a vulture investor. I got only slightly more by waiting.
by Stonebr
Mon Apr 04, 2011 10:35 am
Forum: Personal Investments
Topic: How can I profit from rising oil prices?
Replies: 45
Views: 5440

Rather than play amateur tycoon, the best hedge might be to switch from car to bicycle. Or walk more.
by Stonebr
Mon Mar 28, 2011 12:38 pm
Forum: Personal Consumer Issues
Topic: Fish Oil: Any Downside?
Replies: 62
Views: 11472

Re: Fish Oil: Any Downside?

Leesbro63 wrote:What are the arguments, if any, against taking Fish Oil?
Poor little fish... :cry:
by Stonebr
Thu Mar 24, 2011 10:02 am
Forum: Personal Investments
Topic: Tax question on selling inherited silver coins.
Replies: 22
Views: 7413

To determine cost basis:

1. Locate a copy of Whitman's United States Coins 1987 edition (also known as the Red Book). Public libraries, used bookstores might have such a thing. These are still around. People actually collect the old price guides.
2. Your coins are "Good" condition -- basic circulated coins of no numismatic value. Bottom of the barrel.
3. The guide price will be as good as anything to establish basis. It may even have guidelines for junk silver price averages for the year.

Gains, if any, will be taxed at 28%. You just enter it manually in Schedule D.
by Stonebr
Tue Mar 22, 2011 12:37 pm
Forum: Personal Investments
Topic: Would VMMXX break the buck over the short term during a peri
Replies: 4
Views: 1488

In the early 1980s there were spikes in interest rates much bigger than anything you can imagine today. I don't recall any MMFs breaking the buck back then.
by Stonebr
Fri Mar 18, 2011 8:32 am
Forum: Personal Investments
Topic: Gold..what you guys think
Replies: 33
Views: 5176

letsgobobby wrote:we must be getting very close to the top. very very close. these threads are mushrooming all over the place.
Really? This is the first one I've seen in over a month.

Still, long term gold holders like me are rebalancing out. Not in. I sold a dribble earlier this week.
by Stonebr
Thu Mar 17, 2011 12:49 pm
Forum: Investing - Theory, News & General
Topic: How much allocation to Emerging Markets is too much?
Replies: 80
Views: 13842

A few observations:

1. In the early years of investing, the savings rate is a bigger factor in accumulating wealth than the rate of return.
2. Tolerating a 90% drop is easier said than done.
3. EM has been driven by a once-in-a-lifetime emergence of a handful of giants -- Brazil, Russia, India, and China. This may not repeat or continue when Uganda, Bolivia, Vietnam, and Bangladesh are the key drivers.
4. In the words of soul singer Barry White, "Too much of anything is not good for you, baby."
by Stonebr
Thu Mar 17, 2011 10:45 am
Forum: Investing - Theory, News & General
Topic: Trust Gene Simmons with your assets?
Replies: 106
Views: 14351

KISS once graced the cover of Forbes Magazine. They were doing a revival tour, and the Forbes' lead was something like, "Four middle-aged guys fund their retirement."
by Stonebr
Thu Mar 17, 2011 9:41 am
Forum: Investing - Theory, News & General
Topic: When a bubble pops is the money really lost (wiped out)?
Replies: 34
Views: 4870

In the late '90s there was a bubble in Beanie Babies. There were people who put thousands into these cute cuddly little stuffies. The collector craze valued them so high that some people (admittedly not many) thought they could fund their kids' college education with them. There were articles in WSJ and elsewhere with interviews of happy Beanie Baby investors. I'm not sure what the valuation of the Beanie Baby market was at its peak, but it's near zero today. In the end it's only the most recently sold Beanie Baby that gives the valuation of the whole population. If you can't give them away, then "poof," all that so-called wealth is gone.
by Stonebr
Wed Mar 16, 2011 12:31 pm
Forum: Personal Consumer Issues
Topic: Tips for locating a vacation rental in OBX
Replies: 13
Views: 2300

somanaut wrote:I live in NC, and I'd highly recommend the Duck area. Nags Head and Kitty Hawk are crowded with strip malls and souvenir shops, whereas Duck maintains some charm, has better restaurants, etc. If you really want to get away, try Rodanthe, Hattaras, or even better, Okracoke. There are fewer amenities in these towns, however, and are much more difficult to get to. You really can't go wrong with Duck.
+1 This is excellent advice. Take it.
by Stonebr
Tue Mar 15, 2011 1:18 pm
Forum: Personal Investments
Topic: Thoughts on Vanguard Energy Fund Investor Shares (VGENX)?
Replies: 7
Views: 4601

If you want to overweight energy or health, the Vanguard sector funds are a fine choice -- inexpensive, but not so tax efficient. They also offer ETFs that are based on indexes. Best used in 401k or IRA. The question is whether you should. I did back in early 2000s and was bragging for several years, and then not bragging for a few. Sector funds run hot and cold. Overall, I'm more content with market weight. Like VT says, there's little that's not already known about energy -- it's probably the most heavily analyzed industry of them all. Health care may be number two. I can offer a couple of reasons to overweight energy however. First one goes like this: because only a fraction of the oil/gas industry is in publicly traded companies, and so...
by Stonebr
Tue Mar 15, 2011 12:39 pm
Forum: Personal Consumer Issues
Topic: Help me find a fuel efficient car?
Replies: 45
Views: 5987

Cherokee8215 wrote: Unless you're a tree hugger or drive a huge amount of miles per year, I don't think the payback is there.
Au contraire, mon ami. The 10 years I drove a 40-50mpg Civic were my best years for wealth accumulation. My living costs were low, my monthly investments high. I sometimes wonder if I got where I am by driving a Civic for ten years. Retiring in 5 months. 8)
by Stonebr
Mon Mar 14, 2011 12:11 pm
Forum: Investing - Theory, News & General
Topic: Classic Books about great depression financial experience?
Replies: 23
Views: 3886

Frederick Lewis Allen wrote two classics on the period. Only Yesterday was a cultural history of the twenties. Since Yesterday was the sequel on the thirties.

I would second the suggestions about Studs Terkel's Hard Times and Galbraith's The Great Crash.
by Stonebr
Fri Mar 11, 2011 1:58 pm
Forum: Investing - Theory, News & General
Topic: "Everyone" used to have a pension?
Replies: 16
Views: 2029

Having a pension managed through the same corporation you're working for, is quite possibly the worst idea I've heard of in my life. Even respectable experienced corporations who need to keep an eye on this sort of thing have Chinese wall leak issues. Do you know how many corporations last for 30 or 40 years? We're talking 1 in a 100 territory here! Obviously pension benefits/source should be detached from the job you work at, it's really not rocket science. I agree. I've been in the workforce for 10 years and have had four employers. Because of the portability of 401k's my retirement savings plan is on track. A pension plan with a five year vesting requirement isn't worth a lot to me. I disagree. I've been in the work force for 40 years. ...
by Stonebr
Fri Mar 11, 2011 12:26 pm
Forum: Investing - Theory, News & General
Topic: "Everyone" used to have a pension?
Replies: 16
Views: 2029

I worked for a company for 13 years, leaving them voluntarily in 1972. I lost the pension money earned to that time. The company plan was that pensions were not vested until after 15 years of employment. I think it was 1974 that ERISA was enacted where it became law for vesting must occur after 5 years of employment. (Before ERISA, some defined benefit pension plans required decades of service before an employee's benefit became vested. It was not unusual for a plan to provide no benefit at all to an employee who left employment before retirement (age 65 or perhaps age 55), regardless of the length of the employee's service.) So, pensions would later be virtually eliminated by private employers Jim There was an episode of All in the Family...
by Stonebr
Fri Mar 11, 2011 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Paying-Off Home - Any Tips?
Replies: 68
Views: 11582

Easy, free, and foolproof method:

If your mortgage allows extra payments of principal each month, write them a check for an amount that's about two months shy of paying off the total. Their computers will readjust the outstanding principal for the next two payments, and two months from now your final payment will be due. Done. No messing with wire transfers, fees, special calculations, or dealing with morons.

I did it this way twice -- first with my own home in 1999, and then after I got married with my wife's mortgage in 2007. Two different banks -- Wells Fargo and BofA. Works like a charm, and it was absolutely free and foolproof both times.
by Stonebr
Thu Mar 10, 2011 11:44 am
Forum: Personal Investments
Topic: Gross selling Treasuries..... Worries????
Replies: 7
Views: 1829

Manbaerpig wrote:in other words... yawn. But I agree that with the triple-witching deficit picture (accounts receivable, trade, federal running), that at some point the balloon is going to have to pop.
Gross was interviewed on NBR last night and those were not his reasons for selling. He expects QE2 to end this summer without a QE3 to replace it. In his view the Fed's buying is keeping 10yr Treasury yields down by about 1.5%. He suggested the following alternatives: corporate bonds, mortgage backed, and foreign. This is just a timing move that he expects to play out through the summer. He's holding cash because he expects to buy back into Treasurys at a lower price.
by Stonebr
Wed Mar 09, 2011 9:05 am
Forum: Personal Investments
Topic: Wellesley
Replies: 17
Views: 4035

Re: Wellesley

Roy wrote: Since 1972, if one used 40% Large Value indexes plus, say 40% Intermediate and 20% Long Treasuries (a reasonable approximation of Wellesley but without the call risk in the bonds, or the style drift ), the returns are similar to Wellesley with smaller max drawdowns (compare 2008, for example, where this combo lost just 4.56%, and almost no loss at all in 2001-2002). And that's just 3 funds. One could have improved things with a small allocation to International, as Wellesley also has some exposure there. And this passive approach is less expensive—perhaps the best reason when performance is comparable.
Can you put some numbers on this?
by Stonebr
Wed Mar 09, 2011 8:56 am
Forum: Personal Consumer Issues
Topic: The Best Way To Find A Good Handyman
Replies: 13
Views: 3045

Why not get a referral?

If you have a local hardware store -- one that isn't in a big box with an orange sign -- ask if they know of anyone. Maybe they have a bulletin board. Chances are they do a lot of business with local handymen and actually know them.
by Stonebr
Mon Mar 07, 2011 3:30 pm
Forum: Investing - Theory, News & General
Topic: VTSAX
Replies: 2
Views: 842

The fund is open, but it may not be available in this class of shares to Newport Group.
by Stonebr
Mon Mar 07, 2011 3:15 pm
Forum: Personal Investments
Topic: Need help with Mother's Portfolio
Replies: 8
Views: 1986

Move the entire portfolio to a Vanguard Brokerage Account without selling anything and then start trimming over time. You don't have to do everything all at once, and the bonds can be kept as long as you wish. The mutual funds can all be killed off pretty easily. Reallocate to the account she already has in Wellesley or maybe a mix of index funds or Target Retirement Income. To keep things simple Wellesley or Target Retirement Income might be all she needs. These have a little more stock than you are thinking (30% or so), but much less volatile than her current AA. My own mother uses a Vanguard balanced fund with about 30/70 allocation. She takes the dividend distributions in cash and uses for non-necessities that make her life a little hap...
by Stonebr
Mon Mar 07, 2011 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Emergency cash (physical currency)
Replies: 80
Views: 9568

englishgirl wrote: As for as the situation where ATMs were out for years in some neighborhoods, I assume the actual bank was still functioning somewhat. In which case, you can still go in and withdraw cash from your account like they used to do in the bad old days before ATMs existed.
...except that the government imposed limits... and there were lines several blocks long at the banks. The world is not always a friendly place.

I keep some gin on hand for real emergencies.
by Stonebr
Mon Mar 07, 2011 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Emergency cash (physical currency)
Replies: 80
Views: 9568

goggles wrote:I find it astonishing that people who keep six months, a year, some even 18 months of expenses in an "emergency fund" have zero cash available in case of a real emergency.
Me too. This seems like a no-brainer. Katrina, earthquakes, 2008-like financial meltdowns, ice storms -- nasty things can happen. And that's without even talking about financial collapses like Argentina where ATMs were down for years in many neighborhoods.
by Stonebr
Fri Mar 04, 2011 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: My mother's Adams Express-keep?? or not??
Replies: 11
Views: 2361

Morningstar.com will have more info on this closed end fund with a long, average history. ER is about .58%

http://cef.morningstar.com/quote?t=ADX
by Stonebr
Fri Mar 04, 2011 11:06 am
Forum: Personal Consumer Issues
Topic: Irobot Roomba anyone?
Replies: 29
Views: 4937

I've had two. The first one I really liked, but it had to be cleaned every X time and the cleaning wasn't a snap. When it stopped working I let it go, still I liked the idea of it so much a few years I decided to buy another committing to the "extra work" of cleaning it. It was simply far easier to vacuum (and much less expensive) and better use of my time. So, if they had a model that required less cleaning (and if you don't the unit's life is shortened) and I would definitely read up on the use and care instructions prior - I "might" purchase one again. I'm not one for purchasing items of this sort -- I loved the idea, I was disappointed with the reality. E +1 We used an early model of Roomba for a couple of years. It...
by Stonebr
Thu Mar 03, 2011 10:25 am
Forum: Investing - Theory, News & General
Topic: investing trap: Multinational not the same as international
Replies: 23
Views: 2406

Jacobkg wrote:I recently changed my allocation from 80/20 to 70/30 us-international. I'm a little concerned about performance chasing but this article at least makes me feel a little better. (I was chasing diversification, doggonit!)
I did the same thing in 1990 and had the same concerns back then. Go ahead and chase diversification.
by Stonebr
Wed Feb 23, 2011 3:36 pm
Forum: Personal Investments
Topic: Helping my sister, I don't see a way out
Replies: 9
Views: 2434

I think your sister's "plan" is perfectly sensible. She's now about 45.5% stock and 54.5% fixed. She's 54 years old -- age in bonds. What's not to like about this strategy?

1. Maybe stocks belong in taxable for tax reasons, but the CDs double as an emergency fund. Her Tax rate is low enough that this isn't going to kill her, especially with low rates on CDs these days.
2. Maybe she could get higher returns with rebalancing, but then maybe not. Remember that Jack Bogle doesn't bother to rebalance.
by Stonebr
Thu Feb 17, 2011 2:42 pm
Forum: Investing - Theory, News & General
Topic: Do you have a written Investment Policy Statement?
Replies: 61
Views: 7333

Yes, and it would fit on a 3x5 card.
by Stonebr
Thu Feb 17, 2011 2:21 pm
Forum: Personal Investments
Topic: Cost Basis for DRIP
Replies: 13
Views: 3567

livesoft wrote:The IRS will not argue with you if you report your cost basis as $0.
That's what I had to do with a portion of shares in my wife's old GE DRIP that we sold in 2009.

Most of the DRIPs have a website with long history. GE went back 10 years as I recall.
by Stonebr
Thu Feb 17, 2011 8:59 am
Forum: Personal Finance (Not Investing)
Topic: 'Best' mid-sized car recommendation?
Replies: 28
Views: 4749

Corolla seats are terrible. Just about anything will be more comfortable. My wife's Corolla is a torture rack after a few hours.
by Stonebr
Thu Feb 17, 2011 8:57 am
Forum: Investing - Theory, News & General
Topic: Why not pay off house?
Replies: 57
Views: 8686

LH wrote:[Paying off the house versus investing in the stock market. Investing in the stock market has greater expected value. You are exhibiting recency bias, and responding to the past, specifically 2008 events. Your house equity is always "in" the market. Your house value will fluctuate, whether or not you have a mortgage on it.
LH: Here's a question for you: I paid off my mortgage in 1999 after selling off stock in my taxable accounts. Was I exhibiting recency bias?

My reasons and results (peace of mind, huge amounts of cash flow from a new source (savings), and utter simplicity) are identical to the ones claimed here in this thread by others.
by Stonebr
Wed Feb 16, 2011 2:33 pm
Forum: Investing - Theory, News & General
Topic: Walter L. Morgan?
Replies: 7
Views: 2030

I assume you are aware of the Wellington 75th birthday piece from the Bogle speech archives:

http://www.vanguard.com/bogle_site/sp20 ... onbth.html
by Stonebr
Wed Feb 16, 2011 1:58 pm
Forum: Investing - Theory, News & General
Topic: Poll: What is your investment philosophy?
Replies: 74
Views: 10449

Other.

Efficient market - I'm an agnostic on this. It's simply not a necessary condition to be an indexer and a Boglehead. Low costs and getting my fair share of market returns are enough. Also, nobody around here ever defines what they mean by "efficient"

Do they mean strong, semi-strong, or weak?
by Stonebr
Wed Feb 16, 2011 9:31 am
Forum: Investing - Theory, News & General
Topic: Valentine Message From Jack Bogle
Replies: 13
Views: 2656

abuss368 wrote:Gold has no intrinsic value. Basically Gold by itself is not a "business". It does not generate earnings, profits, etc.

Pure speculation. One invests in it hoping to find a fool that will he will be able to sell it at a higher price.
But it has intrinsic value the same way any commodity does. It's used for dental fillings, electronic circuits, and jewelry. It has also been used as currency for 5,000 years.

Would you argue that crude oil has no intrinsic value?
by Stonebr
Wed Feb 16, 2011 9:24 am
Forum: Investing - Theory, News & General
Topic: Is anything cheap?
Replies: 59
Views: 8600

Talk is cheap.