Gold (for diversification and balance)

Prism

coachman12 said:

Prism said:

So again why don't you think we could buy gold bars if we wanted to?

I feel sure from all your posts that you could not afford the particular gold bar I made reference to in my post above, nor the 100 krugs. Tell me I'm wrong !

See, thats a bit mean. I could probably scrape together enough to buy a few of those krugs if I wanted some gold. I would probably just buy an ETF though for simplicity.

Another_Saver

coachman12 said:

Prism said:

So again why don't you think we could buy gold bars if we wanted to?

I feel sure from all your posts that you could not afford the particular gold bar I made reference to in my post above, nor the 100 krugs. Tell me I'm wrong !

I was hoping not to make it personal but is exceptionally childish and petty.

Linton

coachman12 said:

Prism said:

So again why don't you think we could buy gold bars if we wanted to?

I feel sure from all your posts that you could not afford the particular gold bar I made reference to in my post above, nor the 100 krugs. Tell me I'm wrong !

100 krugerrands at £133000?  In pension terms that is fairly small - it would give you an income of of about £4.6K/year at retirement. Yes, useful but even with State Pension you are talking about a very frugal lifestyle.

DiggerUK

In my  apprentice days we used to go out on a Friday night to sink a few bevvies and find a punch up.
These days I buy some special brews and start a gold thread..._

Prism

DiggerUK said:

In my  apprentice days we used to go out on a Friday night to sink a few bevvies and find a punch up.
These days I buy some special brews and start a gold thread..._

Ahah, the puppet master reveals himself at last..

bowlhead99

coachman12 said:

Gold is a commodity which everyone on this forum would like to have-----they know it and I know it.
But they don't have it ----and their grapes runneth over with sourness.
Why does no-one ever say "hey coachman", congrats on your gold bars, wafers and coins "?.
It's because of a very nasty 24/7 clique of people who should be pitied 

If you think people should congratulate you for your purchases you may need to get some perspective.  You had given us some personal backstory in the past, about how you had the good fortune to acquire more wealth than the average person and why you don't worry too much about whether your portfolio of assets is UK tax efficient. It is nice and refreshing that people are candid about their personal circumstances, and well done for acquiring your fortune, though IIRC the majority of it was acquired without great personal difficulty.  

But having obtained a substantial personal fortune, you can't expect that people would specifically congratulate you on your gold bars, wafers and coins (including your favourite big bar or your 100 Krugerrand collector's platter). They were just something you liked and were easily able to afford to buy with money that you had, no?

If I go out this evening and buy some toilet roll or some takeaway food from my local Thai restaurant, I can't expect someone to congratulate me on buying those supplies or sustenance. They are just some things I bought with money that I had, so unless someone is an Andrex hobbyist or "anglicised thai food" aficianado they probably won't stop to congratulate my good taste or fortune in acquiring them. It is not because everyone in my neighbourhood is part of a nasty 24/7 clique of people who should be be pitied for chips weighing heavily on their shoulders.  The acquisitions are simply things they don't feel the need to come and fawn over.

coachman12 said:
Point Two above-----The usual sarcasm. I merely make the point that no-one seems happy about anyone else's good fortune. And THAT is the really sad thing.

You could call it the politics of envy, perhaps people do not want to take too much time out of their mundane lives to reflect on how someone else has a financial ledger of extraordinary magnitude, when they themselves do not have two springboks to rub together on a cold evening. However, perhaps it is because of posts like:

coachman12 said:

Prism said:

So again why don't you think we could buy gold bars if we wanted to?

I feel sure from all your posts that you could not afford the particular gold bar I made reference to in my post above, nor the 100 krugs. Tell me I'm wrong !

"I have great wealth and store it in beautiful coins and hold them in a foreign bank vault in the form of shiny metal, which I gleefully visit from time to time.  Why do you not congratulate me? Surely you could not afford my Best Gold Bar (tm) or a fat presentation pack of krugs! Tell me I am wrong ! Why don't you want to be my friend !"

Perhaps in skipping straight from a normal day job to having more wealth than you are likely to be able to squander in a lifetime, without the intermediate steps that others go through to 'make it big', you have neglected to develop your EQ or even pick up a dusty 80-year-old copy of 'How to Win Friends and Influence People'.

As it says: “You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you and your gold”

I may be paraphrasing.

Prism

bowlhead99 said:

 They are just some things I bought with money that I had, so unless someone is an Andrex hobbyist 

What! I'm not alone? PM me!!

DiggerUK

Prism said:

bowlhead99 said:

 They are just some things I bought with money that I had, so unless someone is an Andrex hobbyist 

What! I'm not alone? PM me!!

PM?  how much storage space do you have free in your message box..._

EdGasketTheSecond

Look it doesn't matter whether someone owns a 1oz coin or a 1kg bar or nothing; that doesn't make a person great or better than the next. What matters is how you think about things and analyse information and based on that conduct yourself accordingly.

EdGasketTheSecond

Prism said:

EdGasketTheSecond said:

Good luck to you Coachman12; I believe you are far better off in gold than currency or bonds going forward.

That is very likely true. However it is probably the case, as it has been for a very long time that the very best place to be over the long run is stocks.

I don't believe that will be the case later in 2021. It hasn't been the case in Japan since 1989 and it won't be the case in the western economies after the first half of 2021.