Invest in Gold?

….. “what this economy is going through?”

Like most other seniors in the U.S., my portfolio is going through the roof.  Now, this guy is Canadian, a country with different economical conditions than our own.  If I were advising  a client called “U.S. Money Reserve,” I would suggest choosing a quote from an American, rather that a Canadian, a Brazilian, a Korean, or a Spaniard.

But in any case, gold?

A few years ago, I heard a wealthy friend tell someone, “I’ve never known anyone who made money in precious metals.”  He then immediately corrected himself as follows:  “I’ve never known any smart person who made any real money in precious metals.”  He made that correction because, there are always a few lucky idiots who buy gold at a certain price and sell it a few months later at a higher price.

There are also a few people every month who go from poverty to extreme wealth by “investing” in lottery tickets.  They didn’t make a smart move, but a small fraction of them do make it happen.  Walk into any liquor store, and you’ll meet people who believe that they are the one who’s going to beat the odds today. Very few of them do, but they doesn’t deter them in their thinking.