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Finance
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24 Essential Lessons for Investment Success |
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24 Of the Most Important Investment Techniques |
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Australian Property Investor |
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Planning to buy a home or investment property? Find out where's hot and where's not with Australia's monthly magazine for home buyers and property investors. Contents include hot suburbs, market commentary, median house price and rental statistics, tips, |
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SMSF |
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The first dedicated publication for professionals advising on self managed superannuation funds, whether they are accountants, lawyers or advisers. The magazine aims to cover the realm of issues confronting the industry with news, features and regular con |
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Investor Weekly |
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Launched in 1994, and with its coverage broadened recently to include retail as well as institutional news, Investor Weekly provides coverage across superannuation, funds management, masterfunds, dealer groups, administration, custody and investment manag |
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100 Years of Wall Street |
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Easy Way to Get Started |
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It's Good Enough For Warren Buffet
By: Scott Bianchi
I have written an article or two about precious metals with very weak reception.
I did not think it would be a huge reception but I thought there would be more
interest. Precious metals are not understood by many people. I got into precious
metals, more specifically silver, about 3 years ago. I have moved some of my
investments in my IRA from more traditional investments to silver. My financial
advisor was hesitant when I first discussed it with him. I know he did not agree
with my move. I also know he makes no money from the move so it does not benefit
him at all. This is probably a large part of the reason why he didn’t agree.
I have recently left my job and I will be transferring my money from that 401K
program to my IRA. I will be spreading it out over the precious metals with the
majority going to silver. Many people do not realize the silver supply is not
what it once was. I have read articles in the past discussing the silver supply.
Some experts feel there are more “shares” of silver sold and owned by investors
that there is actually silver left on the planet.
Hopefully most people reading this article know who Warren Buffet is. I am
assuming you do because you are reading articles relating to investing. For
those that don’t know who he is, he is the second richest man in the world. He
is only a couple billion behind Bill Gates with an estimated value of roughly
$42 billion. He made his fortune strictly through investing whereas Bill Gates
did it with his company. Back in the late 90’s Mr. Buffet bought 130 million
ounces of silver. If you read the article I have attached: http://www.gold-eagle.com/editorials_05/dross022806.html
You will see he clearly knew what he was doing. The silver ETF was approved
since the above article was written and since its approval the price of silver
is going up. It has only been a few days but it is on the rise. If a man that is
worth $42 billion, who has made his money in investing, is buying silver I am
thinking there is good reason for it. The article indicates he may be supplying
the company responsible for the ETF with the amount of silver they need to open
for business but even if that is the case he still knew silver would be
exploding in price at some point and has worked himself a deal to make a few
more billion.
There is no way to know how much silver will be worth in the near future. But,
there is no way to know what your GE stock will be worth, or whatever the
company may be. But, at a current price of roughly $11 an ounce it is a safe bet
that you will be making some money. Certainly the risk of losing money on silver
is minimal at that price. When it is at $11 an ounce there is not much room to
fall.
One other difference between silver, or any precious metal for that matter, and
a regular stock is the precious metals have value. The stock is a piece of
paper. If you have 1000 ounces of silver in your possession, whether at home or
in a deposit box at your local bank, you know your investment has value. It can
always be sold for some money. Precious metals have been around for centuries.
They were used as currency in many countries and they are still used in some
countries to this day. Our United States currency was once backed by silver and
gold.
China has previously not allowed its citizens to buy silver and gold but
recently began allowing them to buy. They have been using some of their savings
to acquire as much of the precious metals as they can.
People are afraid to do something different. I have been pushing the benefits of
precious metals and Forex trading. Many people know very little about either of
them and they keep away from them. I say that people need to stop being
dependant on their financial advisors who make money on the sales they
recommend. They are in it for themselves first. Your goal is to protect you, not
them. If the second richest person in the world can spend $1.3 billion of his
own money for silver then why shouldn’t you spend a few hundred to get yourself
started?
About the Author:
Scott Bianchi operates http://www.best-internet-bargains.com. He writes on a variety of topics. If you would like to be added to his distribution list for
his new articles when they are published just send an email to articles@bestinternetbargains.com. |
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