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Sold all my Gold


Eco

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On 24/07/2020 at 16:10, Eco said:

Heres the thing, its going to be difficult for me to watch any further small rises.

But once it drops, it will shoot down. No one will have time to react. I can literally see 100s being knocked off per day until over 2-3 days, before bottoming.

How can this be possible in the next 1-2 years? With pending job losses furlough ending wages lowering stock market will dip people will flock to gold and silver I think it’s a buy and hold situation. 

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On 22/09/2020 at 20:24, ZigZag said:

Exactly my position, I’ve been diversifying a little from the stock market to other assets, including P.M’s as a physical hedge and “insurance policy” approach.

Made some money in the markets, now I want more of a cushion against purchasing power, part of the reason I’m here not to really increase my wealth; more to protect it.

Diversification has to be good. It makes us all nervous I think, you look at your pension that you’ve sweated over for years to build and watch it rise and fall with the global economies and I still wonder if it was the right vehicle for such a large chunk of my personal wealth.

PM’s, vintage Shotguns and rare watches have provided me some diversification recently the more I have fretted, but there’s still a lot in the various global markets. Just switched some of that to physical metal ETF’s. Got to hope that the various market ups and downs in all those sectors equates to a decent overall annual growth level.

I keep looking at wines too, but that’s a scary market IMO!!

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19 hours ago, ShropshireTom said:

Diversification has to be good. It makes us all nervous I think, you look at your pension that you’ve sweated over for years to build and watch it rise and fall with the global economies and I still wonder if it was the right vehicle for such a large chunk of my personal wealth.

PM’s, vintage Shotguns and rare watches have provided me some diversification recently the more I have fretted, but there’s still a lot in the various global markets. Just switched some of that to physical metal ETF’s. Got to hope that the various market ups and downs in all those sectors equates to a decent overall annual growth level.

I keep looking at wines too, but that’s a scary market IMO!!

Watch out for vintage shotguns - will be impacted by the lead ban that is upcoming.  A few friends on my shoot are pretty worried as they are shooting with Much older Holland’s, Purdy, Army and Navy which probably won’t be able to take steel shot.  Re-barrelling for a good gun costs 5-6k.  

Cheers

Dicker

Not my circus, not my monkeys

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5 minutes ago, dicker said:

Watch out for vintage shotguns - will be impacted by the lead ban that is upcoming.  A few friends on my shoot are pretty worried as they are shooting with Much older Holland’s, Purdy, Army and Navy which probably won’t be able to take steel shot.  Re-barrelling for a good gun costs 5-6k.  

Cheers

Dicker

Absolutely- I’ve moved to modern cartridge capable last year for that very reason, but I think it will cause some difficulties for some people. Nearly killed me too, sold my favourite gun because of it, but at least it turned a profit for me.

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20 minutes ago, ShropshireTom said:

Absolutely- I’ve moved to modern cartridge capable last year for that very reason, but I think it will cause some difficulties for some people. Nearly killed me too, sold my favourite gun because of it, but at least it turned a profit for me.

Indeed, it is resulting in a lot of people retiring their old English guns, despite being in absolutely beautiful condition in many cases.  I don’t buy and sell guns but know quite a few people having to shift to modern guns last season but particularly this season.  Interestingly they are keen to shoot with SxS so are buying from William Powell, Chapuis and Beretta.  Old habits die hard!  
 

Best

Dicker

Not my circus, not my monkeys

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Not being an armourer I am unsure if it would work, but perhaps plating the inside of a lead proofed barrel with something such as Nikasil.
I do realise that I risk being whipped for suggesting such sacrilegious practices.

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10 hours ago, Stuntman said:

Note to self: don't mess with @dicker or @ShropshireTom.  They have guns, and know how to use them 😉

Steady now @Stuntman - nobody said anything about knowing how to use them 😂 sometimes the safest thing to thing to be when I have a gun in my hand is a clay pigeon 🤣🤣

on a serious note about the diversification thing though, it’s hard to know how to split assets sensibly sometimes, I know shotguns and some hold value very well, some appreciate if you but the right ones. Another protector of wealth I hope! Some are even nearly as pretty as PM’s

 

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32 minutes ago, ShropshireTom said:

Another protector of wealth I hope!

Never thought of shotguns as 'protectors' of wealth...more a 'hand it over, you slaaag'  plunderer of wealth 😂

shotgun.jpeg.69b32a31a7e2dd05b769a70b2375ec99.jpeg

Technically, alcohol is a solution..

'It [socialism] poses a growing threat, however unintentional, to the freedom of this country, for there is no freedom where the State totally controls the economy. Personal freedom and economic freedom are indivisible. You can’t have one without the other. You can’t lose one without losing the other.'

"There is no such thing as public money, there is only taxpayers' money"

Let not England forget her precedence of teaching nations how to live.

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Bora BR99 has chrome barrel, so good with steel and slug. Section 1 though. Might upset the country set on a shoot.

Have seen (walked past) 'green cartridges' at shows. Didn't think they were steel. What are they and can't they be used?

I shoot mainly 6.5CR at 600-1000yd. My 12ga doesn't see much daylight, it is a Baikal, you Purdy guys can only dream of such quality. I got it in a bundle of other items, must be worth nearly £100. Keep thinking of buying a half decent 12ga, but I just don't do the discipline often enough.

Back on topic...

When equities, PMs and crypto are all heading lower, what are you supposed to do.

Maybe reloading stuff, seems to be getting more expensive. 

Have been looking at an Omega for ages, just keeps getting more expensive, even from Watches of Mayfair. Hard to know what to get in terms of investment watches, the Omega is going to be a daily.

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4 hours ago, TopHatsTales said:

Bora BR99 has chrome barrel, so good with steel and slug. Section 1 though. Might upset the country set on a shoot.

Have seen (walked past) 'green cartridges' at shows. Didn't think they were steel. What are they and can't they be used?

I shoot mainly 6.5CR at 600-1000yd. My 12ga doesn't see much daylight, it is a Baikal, you Purdy guys can only dream of such quality. I got it in a bundle of other items, must be worth nearly £100. Keep thinking of buying a half decent 12ga, but I just don't do the discipline often enough.

Back on topic...

When equities, PMs and crypto are all heading lower, what are you supposed to do.

Maybe reloading stuff, seems to be getting more expensive. 

Have been looking at an Omega for ages, just keeps getting more expensive, even from Watches of Mayfair. Hard to know what to get in terms of investment watches, the Omega is going to be a daily.

To the best of my knowledge, the shell colours are usually manufacturer based rather than load based - but I only ever buy the same shells from the same shop, so not well versed in shell types.

i wear an Omega Planet Ocean Titanium as a daily, great watch. For investing though, older, desirable calibre and case are the thing to go for IMO. Early sea master in yellow gold cases with a good caliber are a solid performer over the last couple of decades IMO. The ‘pie pan’ dial Omegas also fetch very very strong money - especially the older ones in a gold case. The moon watch - originals and modern versions - are solid choices IMO too - hand wind chronographs in general are a good choice. Patek’s are really about the best investment option IMO but they are very expensive to start with. Also very easy to get stitched with an amazing quality fake - they are that good that even horological experts often need to remove the back and examine the movement to tell.

over the long term, little competes with PM’s & equities - bonds aren’t very appealing at the moment!!

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5 hours ago, ShropshireTom said:

To the best of my knowledge, the shell colours are usually manufacturer based rather than load based - but I only ever buy the same shells from the same shop, so not well versed in shell types.

i wear an Omega Planet Ocean Titanium as a daily, great watch. For investing though, older, desirable calibre and case are the thing to go for IMO. Early sea master in yellow gold cases with a good caliber are a solid performer over the last couple of decades IMO. The ‘pie pan’ dial Omegas also fetch very very strong money - especially the older ones in a gold case. The moon watch - originals and modern versions - are solid choices IMO too - hand wind chronographs in general are a good choice. Patek’s are really about the best investment option IMO but they are very expensive to start with. Also very easy to get stitched with an amazing quality fake - they are that good that even horological experts often need to remove the back and examine the movement to tell.

over the long term, little competes with PM’s & equities - bonds aren’t very appealing at the moment!!

I meant "green" as in 'eco friendly'. 

Well, that was my interpretation of their marketing.

Interesting thoughts on watches, thanks.

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On 28/07/2020 at 21:39, vand said:

I don't have a problem with TA. It's useful and I use it myself, but I have learnt not to allow short term signals to influence my long term strategy, which is to buy and hold for the main duration of the bull market. TA might be useful to tell me that its overbought on a daily or weekly timeframe and so don't be surprised at a short term pullback, but don't let the tail wag to dog, and accept that a short term correction is a necessary and inevitable part of a healthy uptrend. The main trends that develop over many years are the ones that you must not lose sight of, regardless of what indicators over a shorter timeframe indicate might happen.

 

On 24/07/2020 at 16:46, KDave said:

@Eco 

If you have made a profit from your metals and are investing in other opportunities, good for you, in this case you think cash is the opportunity? I have heard this recently and it has merit. Yet there is a fine line between investing in an opportunity, and moving into cash out of panic. Panic is not good. Panic is the enemy. After 15 years of gold investment, I am surprised you are not a hardened veteran and immune to panic, and indeed immune to influence from social media including Reddit of all places! Reddit is a Marxist cesspit of censorship, which has nothing to do with this, but it had to be said. 

I have sold some of my gold investments recently to move into what I think is another opportunity (silver and oil). I think this was a good move, its not looking so right now, but time will tell. But I would never sell all of my gold and physical would be the last part of the position to go. It looks like you are taking a 100% position against gold in anticipation of buying back in lower - I would argue this is not investing. You clearly like gold as an investment, but have chosen to trade the gold price using 100% of your core position. As vand says, you may find you can never get back into gold at a lower price, so the real question to ask yourself is, Are you content to be 100% wrong? 

(I don't believe you are wrong, but I could be wrong too, yet I will be less wrong than you if we are both wrong ;))

 

On 24/07/2020 at 17:07, HawkHybrid said:

 

you should keep your emotions away from trading. work out the reasons when you want

to buy/sell and stick to them. if you get it right/wrong make a note of it and use that data

to improve your technique for next time. there is no shame in taking profits.

'sometimes, feeling very wrong in a trade, turns out to be the right trade'

I wouldn't choose to aggressively go all in/out every time I want to reposition myself, but

that is down to personal tolerances for risk.

cash is a position(and a learning curve).

 

HH

I have just caught up with this thread.  These replies make sense to me, though i may not agree with all point they make more sense than the topic starter who like a gambler has gone all in on a hand of cards.  To me it would of been better for him if he had taken/ played a different hand, he should of taken all profits plus a percentage more from the table, leaving a substantial sum at the table.    

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On 28/09/2020 at 07:22, dicker said:

Watch out for vintage shotguns - will be impacted by the lead ban that is upcoming.  

Not just that. vintage guns are usually side by side. Thats going out of fashion, they are up for auction for next to nothing. The best guns are second hand recent over and under ones thats people love & will stay en-vougue for 20 years or more. I would be looking at £5k guns that could easily reach £20-30k within 20 years if kept in perfect condition. It could also be the case that semi auto take hold, but I doubt it??

I own an ATA SP (basically a cheap silver pigeon) so am certainly not an expert on expensive guns, but this is one sector I want to get into. I bought the SP for my wife should I upgrade, due to the light weight, its a fabulous gun for £500. ;)

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40 minutes ago, Stacktastic said:

 

Not just that. vintage guns are usually side by side. Thats going out of fashion, they are up for auction for next to nothing. 
The best guns are second hand recent ones thats people love & will stay en-vougue for 20 years or more. 

I own an ATA SP (basically a silver pigeon) so am certainly not an expert on expensive guns, but this is one sector I want to get into. ;)

Something of a generalisation.  Side by side are still the go to gun for traditional game shooting.  Whilst your AYA Yeomans may go for £100 at Auction quality English guns still command a premium with many people unwilling to shoot with over and under despite the lead ban. I still see SxS going for the many thousands and have just bought a pair of Chapuis SxS for game shooting. 
 

I won’t argue the merits of over and under or SxS, but will bet you a sovereign that in 10 years an English SxS that can handle stainless steel loads will have held its value well and will be just as popular with game shooters. 

My personal opinion is that even kept pristine, modern Over and Under shotguns would not be a sound investment - technology moves on quickly and it is possible to get a way better gun every 10 years.  
 

Semi-auto’s....are very unlikely to hold value.  They are the “bic biro” of the shotgun world.  I own and use them for pigeon and wildfowling but they are just utility items. 
 

Best

Dicker
 

Not my circus, not my monkeys

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Many governments have screwed their citizens over in the past with fiat currency and false promises. 

If a Japan situation were to happen I think I would like to be able to cuddle a little bit of gold to make me feel a little safer during the pandemonium. 

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