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Dave Ramsey - Advice on investing on Gold & Silver


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I'm always curious to hear different views and decided to watch Dave Ramsey views on PM. 

I don't really follow him, but this video came up on my YouTube recommend to watch list. I always thought he had the exact opposite view on things and this video confirms it. 

Here he crushes a hunch of a potential stacker, poor lad. 

I shouldn't really promote his work but it's interesting to hear other point of views. I don't mind...More PM for us. Lol.

 

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Well, if he's going to not recommend it based upon it's past performance he should at least get his numbers straight. He reckon's gold has returned 2%pa over the last 50 years. If that were correct he may have a point, but the actual true figure is some like 7.5%pa. 

But hey, mainstream investors shunning gold is just what we need. Precious metals are the most hated investment class in existence at the moment. By the time this guy is on the bandwagon gold and silver will be many multiples higher than they are today. 

 

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46 years ago gold was  £14.80......today  it is £871.50..im not a mathematician but that seems more than 2%

 

 

 

 

 

 

 

 

 

 

 

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314.80

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Terrible advice. Does he not know that past performance is no indication of future returns!? :P

A couple of points;

He says gold is way down again after an all time high - then tells him not a good idea to buy (when is a good time to buy then at the all time high?)

Makes up a 2% annual return figure out of thin air. 

Has no idea of the about the history of gold post the Roman empire. There are several recent examples of where gold has protected people in a currency crisis - Russian Ruble 2014, Argentinian Peso 2015, Venezuela today, the list goes on and will be larger by 2017.

It appears he subconsciously realises the flaw in his thinking about the nature of money when he says the dollar is not really worth anything, pauses, then quickly moves on lol.

I agree that investing in real production is preferable to an asset that has no yield. He is right that gold produces nothing. He is wrong not to hold any. 

I do appreciate an alternative view though, too much confirmation bias is unhealthy ;)

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13 hours ago, gkoogk said:

46 years ago gold was  £14.80......today  it is £871.50..im not a mathematician but that seems more than 2%

Getting the compound interest calculator out, that works out to just over 11% pa. Although if the same thing happens over the next 46 years, gold will be £106,000 per ounce ;)  

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Is the desire for an annual return the reason we hold gold anyway?

There are better investments for that. Gold is the insurance policy/moat/firewall, whatever you want to call it.

Currently stacking 1/4 oz (22ct) and Sovs.

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