Would anyone be interested in this? (Siccness mini-hedge fund)
- Thread starter WHITE DEVIL
- Start date
Sometime, yes.
Soon, no.
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Richard Russell, Founder, Dow Theory Letters, Inc.:
$500 is a big number for gold but more in terms of symbolism. It has more of a psychological significance, similar to when the Dow reached 10,000. So this is just the beginning. It is just a matter of time before gold really goes through the roof. All you have to know is that a bull market is in session and you can see where that psychology is going to lead us.
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Andrew Gause, Founder, SDL Numismatic Properties, author, "The Secret World Of Money":
You haven’t even seen real pressure on gold yet. At $500 we are only at about three-fourths of the equilibrium price. We still have $125 dollars more to go, upward. It will be interesting to see how monetary policy changes when Ben Bernanke takes over for Alan Greenspan next year. I think that Bernanke is actually going to lower interest rates to re-stimulate the economy. He is going to move away from Greenspan’s idea of ‘asset inflation,’ and he is going to be more concerned about ‘core inflation.’ By lowering interest rates he keeps the housing boom going for a while. They would like to continue to keep the printing press going, increasing the money supply as long as the core rate of inflation does not go above 3%, which has been the formula for years. That is why we have seen the money supply get to its current level of $10 trillion, doubling quickly from $5 trillion. By the way the Federal Reserve announced they are going to discontinue publishing monetary aggregates. I think I turned too many people on to watching those statistics closely to see how much money the Fed is really printing
I know this is directed at WD, but you can teach yourself. If you have cable, MSNBC is a great channel to watch, Bloomberg television may also me something you'd like to subscribe to.
The Wall Street Journal.
If you open a Vanguard 401k acct, you have access to a majority of financial resources.
You can also sign up for a class to get your series 6 & 63 (a lot of it is insurance based, as well as securities, but it's a nice crash course). Also, try a class that trains for a series 7. You don't necessarily need to take the test & get liscensed, it is a lot of info, but could be helpful.
Also, consider a Finance class at your C.C. or university or whatever.
Or, purchase a dictionary of Accounting and Finacnial Terms, and just start reading the financial section in your local newspaper, and advance from there...
WD--- Are the details still being ironed out?
Jomodo - I couldn't find an easy way to do it without doing 1 of 3 things:
1. Getting everyone's address, SSN, etc (for tax purposes)
2. Signing everyone up at some sort of discount or full-service broker (which requires all the same info and even more time)
3. Taking on all income tax liability myself (Not worth it.)
I was looking at going with option 3 and charging around 10 percent in fees. Even if I beat the market by 15%, this negates gains for the rest of you.
1. Getting everyone's address, SSN, etc (for tax purposes)
2. Signing everyone up at some sort of discount or full-service broker (which requires all the same info and even more time)
3. Taking on all income tax liability myself (Not worth it.)
I was looking at going with option 3 and charging around 10 percent in fees. Even if I beat the market by 15%, this negates gains for the rest of you.
