Well, I'm older and wiser now. As a youth, I was impressed by a high-flying broker who put me in Oil and Gas options. Here was a "sure bet". She had "inside information" that this oil well being completed was going to be a gusher and make huge returns.
I lost everything, all my savings at the time, on that one transaction.
But I had time to recover from that loss. I dropped that broker, and went with six other brokers
in turn, who fared a little better. Disappointed, I finally decided to do all my own research and go with something called "no load" mutual funds. (note: This was all long before Morningstar and before the Internet. )
But in February last year, I was absolutely horrified to get an email out of the blue from an old college friend, who wrote this ...
Now that I am retired, I've had more time to read, surf the net, and dabble in the stock market (the latter with mixed results, until I discovered why, below). (The next paragraph cites several "gold bug" books and web sites on hyperinflation, supercycles, etc. )
Right now, I'm taking every dollar of my savings and investing in silver (90%) and gold (10%), because I believe with the coming US dollar collapse my savings will become worthless if left in US dollars. To ensure my precious metals are safe, I have done extra due diligence on potential gold/silver institutions... (investing 1/3 in each of these three)
1) silver coins (American Eagle one ounce), bought from Goldsilver.com, and stored in a Brinks vault in another state.
2) Sprott Physical Silver (PSLV), bought through my brokerage account.
3) digital silver and gold, purchased from and stored by GoldMoney.com located in Jersey, The British Channel Islands,
I desperately tried to talk them out of it, but only found deaf ears. Since February last year, PSLV is down 47% or so, sunk in parallel with the precious metal index. None of these "investments" pay any dividends. There are management fees and storage costs. Now, I'd call that one of the worst investments, considering the age of the investor and all the nest egg being in one unfortunate place.