The price of gold has hit all time highs. Since 2000 the people who invested in gold have done very well.
I am one of those investors. I own physical gold…. No paper gold ETFs.
Unfortunately higher gold prices generally means investors are becoming pessimistic. Many investors shift out of stocks and start buy defensive assets.
So higher gold prices are not necessarily a good sign.
If a major stock market crash occurs…. Which I am expecting…. Because the stock market has been high for too many years…. This is not good news for people who do NOT own gold, silver, and Bitcoin.
History has shown us…even non-investors and poor people are happier in a bull market…although not getting richer.
When this very high stock market crashes… non-investors and the poor will suffer….possibly become depressed….while the rich smart investors who sell at a market top…. Which they are doing now….and sit on piles of cash…ready to pick up assets at bargain prices….after the crash.
If I was one of those who did not invest in one of the biggest and longest bull markets in history….I would learn from my non-action.
When this market crashes…and you have nothing because you did nothing…I would do what smart investors will be doing….Which is to take my time… study…join an investment club….watch for bargains….and start buying assets at low prices…carefully.
Then in a few years…. When another bull market rises…you will be one of the richer smarter investors.
The lesson is: “smart investors get rich….regardless if markets are going up or down.”
If you missed this last bull market…don’t worry….anothe one is coming your way.
This is the time….even if the economy goes into a depression….to be patient…join an investment club….get smarter…don’t get greedy….identify Ibargains….get richer….and take care.
Remember this Kenyan runner Abel Mutai who was just a few feet from the finish line, but became confused with the signage and stopped, thinking he had completed the race. A Spanish runner, Ivan Fernandez, was right behind him and, realizing what was happening, started shouting at the Kenyan to continue running. Mutai didn't know Spanish and didn't understand. Realizing what was taking place, Fernandez pushed Mutai to victory.
A journalist asked Ivan, "Why did you do that?" Ivan replied, "My dream is that someday we can have a kind of community life where we push and help each other to win."
The journalist insisted, "But why did you let the Kenyan win?" Ivan replied, "I didn't let him win, he was going to win. The race was his." The journalist insisted again, "But you could have won!" Ivan looked at him and replied, "But what would be the merit of my victory? What would be the honor in that medal? What would my mother think of that?"
Values are passed on from generation to generation. What values are we teaching our children? Let us not teach our kids the wrong ways and means to win. Instead, let us pass on the beauty and humanity of a helping hand. Because honesty and ethics are winning!"
@ianmiles Is anyone gonna talk about the bystander student who was watching closely like he about to jump in on him and when he sees the kid get KO HE BACKS UP LMFAO! 🤣