Jump to content
Sign in to follow this  
Exploring

What will you do with your money?

Recommended Posts

Oh ya, gold has been pretty much climbing steadliy to $1900, then crashed down to $1700 a couple days ago, and now back up to $1830. The ride isnt for the timid. Silver has been all over the place too. If you can figure it all out, let me know!! Just when I think I am going to make a great move, the game and indicators change. Glad to see your playing the game, Exploring. Good luck!! BTW, there are many sites that you can monitor the ups and downs of the market, commodities, dollar exchange. I check my site hourly so hopefully I dont get bit to hard on a downward slide. I dont have any stops in place, dont like to use them at this point.

Share this post


Link to post
Share on other sites

The fact that several people I know that know absolutely, positively, nothing whatsoever about gold, economics, or investing have told me that they're buying gold because they heard that it was going to keep going up and up and up tells me that the smart move is to be very, very careful before investing in gold :-)

Better yet, they want to invest by buying Thai gold in the shops. When I reminded one person that they're already taking a 10% haircut buying and a 10% haircut selling meaning that you have to cover that 20% margin just to break even, the person didn't seem to care.

Share this post


Link to post
Share on other sites

Hopefully they will like their jewelry!! Its late to get into to gold, but still possible to make some good moves in the bull market. This last $200 per ozs flucuation was perfect to day trade it. I spent all day today kickin myself in the a$$ for not pulling the trigger on Monday. Coulda picked up several more ozs. Problem now (at least for me) is all the indicators are not behaving as they have in the past. Maybe should just follow Warren Buffett and go all in for B of A. Not.

Share this post


Link to post
Share on other sites
At this point;2 AM bkk time, it is the time of almost closing bell of stock markets in the US. All of the exchanges are negative while gold price is climbing up.I just can't sleep and want to think about how Thai stock market will perform tomorrow. What would your ideas on how to manage your money ; given this financial situation? Which market or assets would you put your money in? How much yield will you require in return per annual?

Spending it all on hookers and alcohol. Being a beggar at Victory Monument Sky Train station gives a good income anyhow!

Share this post


Link to post
Share on other sites
Hopefully they will like their jewelry!! Its late to get into to gold, but still possible to make some good moves in the bull market. This last $200 per ozs flucuation was perfect to day trade it. I spent all day today kickin myself in the a$$ for not pulling the trigger on Monday. Coulda picked up several more ozs. Problem now (at least for me) is all the indicators are not behaving as they have in the past. Maybe should just follow Warren Buffett and go all in for B of A. Not.

I think Warren can command a better deal than you can :-)

Yes, one of the people I mentioned previously did pull the trigger and got her farang boyfriend to buy close to 500,000 baht (the money, not the Thai weight) of gold as an investment. I cringe at how stupid her boyfriend must be to take investment advice from her.

Not because she's a woman. Not because she's Thai. But because this girl believes buying lottery tickets is retirement planning. She's one of those people who's entire life story is one bad decision after another yet somehow she's found some idiot to follow her financial planning advice.

Share this post


Link to post
Share on other sites
Hopefully they will like their jewelry!! Its late to get into to gold, but still possible to make some good moves in the bull market. This last $200 per ozs flucuation was perfect to day trade it. I spent all day today kickin myself in the a$$ for not pulling the trigger on Monday. Coulda picked up several more ozs. Problem now (at least for me) is all the indicators are not behaving as they have in the past. Maybe should just follow Warren Buffett and go all in for B of A. Not.

Gold is not for short- term investing but trading at this point. The movement can be triggered by many data and how the" market players" interpreting the infos. To me , QE3, EU problems are the keys and what is the suitable level of gold price so far. It is zero sum game theory... choose your side or better out of the battle , right? If it move past 1850$ to night.. I will take some actions. Or, I just move money to equity.. that is easy. Now I can have a good night sleep!

Share this post


Link to post
Share on other sites
I think Warren can command a better deal than you can :-)

Yes, one of the people I mentioned previously did pull the trigger and got her farang boyfriend to buy close to 500,000 baht (the money, not the Thai weight) of gold as an investment. I cringe at how stupid her boyfriend must be to take investment advice from her.
.


I think nothing wrong with this but you have to monitor the market day and night. It requires to make a very quick decision once it is profitable. After that get out of the market, you can get in again once the opportunity arises. Within a week.. gold can give you +/-5%quicky. Saying 25000B , you just can't be lazy and it is 50% chance of right. If you are right, you get. If not, you lose. 50% prob is good to me.

Share this post


Link to post
Share on other sites

Check out the 5 yr graph for the precious metal rhodium. It is used in jewelry and automotive connectors and catalitic convertors. It spiked at $10,000 an oz a while back. Its worth now is about $1875 an oz. Dont have a clue as to its immediate future, but with automotive production low, it might make a comeback when automotive productiion takes off again.

http://www.kitco.com/charts/rhodium.html

Share this post


Link to post
Share on other sites
Check out the 5 yr graph for the precious metal rhodium. It is used in jewelry and automotive connectors and catalitic convertors. It spiked at $10,000 an oz a while back. Its worth now is about $1875 an oz. Dont have a clue as to its immediate future, but with automotive production low, it might make a comeback when automotive productiion takes off again.

http://www.kitco.com/charts/rhodium.html

Thank you for your input :). The graph shows that I have to excercise "stop loss" discipline.

BTW.. Gold is up rougly 2.5% to 1834$....Wish me luck !

Share this post


Link to post
Share on other sites

I would've thought the answer was quite simple, obviously many of you didn't play monopoly as a child.

**** the share market it's only for losers or scammers, spend your money on property, specifically on land,

every year amazingly there's less available, on the contrary with dividend reinvestment plans and employee share purchses plans and all those fat greedy executive bonus plans, shares become diluted.

Why don't people all round the world wake up and realise the share market IS a big scam that feeds all those greedy executive fat cats,

I don't need them, however they need me(or peolple like me) !!!, lol

Everyone should stop putting money in the share market, for every winner there has to be a disappointed loser.

Share this post


Link to post
Share on other sites
I think Warren can command a better deal than you can :-)

Yes, one of the people I mentioned previously did pull the trigger and got her farang boyfriend to buy close to 500,000 baht (the money, not the Thai weight) of gold as an investment. I cringe at how stupid her boyfriend must be to take investment advice from her.

Not because she's a woman. Not because she's Thai. But because this girl believes buying lottery tickets is retirement planning. She's one of those people who's entire life story is one bad decision after another yet somehow she's found some idiot to follow her financial planning advice.


It seems he has made a good return if he sells now...lolol.

I just bought a few blocks of General Dynamic (GD on the New York stock exchange) for a five year long term investment. It might go a bit lower than the $63.46 I bought it at, but its outlook is very good, and the dividend is healthy every year. They just made some key aquisitions to diversify, and continue to solidify their government dealings. With both wars ending the militaries will be updating equipment, with General Dynamics as a major design, researcher, and supplier, they look to again beat profit estimates. With a P/E of 9.13, and $2.4 billion in cash on hand, I saw it as a very good time to buy. I can live with a 9%+ return on investment in these times.

Share this post


Link to post
Share on other sites
It seems he has made a good return if he sells now...lolol.

I just bought a few blocks of General Dynamic (GD on the New York stock exchange) for a five year long term investment. It might go a bit lower than the $63.46 I bought it at, but its outlook is very good, and the dividend is healthy every year. They just made some key aquisitions to diversify, and continue to solidify their government dealings. With both wars ending the militaries will be updating equipment, with General Dynamics as a major design, researcher, and supplier, they look to again beat profit estimates. With a P/E of 9.13, and $2.4 billion in cash on hand, I saw it as a very good time to buy. I can live with a 9%+ return on investment in these times.

Depends. It's actual gold which means you're paying a 10% markup to buy and a 10% markdown to sell. :-)

Share this post


Link to post
Share on other sites
Depends. It's actual gold which means you're paying a 10% markup to buy and a 10% markdown to sell. :-)


I'm trying to understand where you are coming up with this 10% business. There is a bt100 difference between the buying, and selling price for Thai gold, by the baht with either jewelry (23 carat), or bar gold (24 carat), then there is the bt300 handling fee. At bt25000 for bar gold this morning that doesn't quite figure to be 10%. Where are you getting your 10% figure from?

You buy, and sell from the same shop. There is a bt300 fee when you buy, then a bt100 reduction in the price when you sell, plus again the bt300 fee. Both in, and out that only comes to bt700 per baht. Where are you getting the 10% from? Are you equating this to buying gold from a Thai shop then selling in the USA, or some other country?

Share this post


Link to post
Share on other sites

The markup/markdown on gold & silver with the company I do business with is .5 % (1/2 %) which makes day trading the commodity profitable if there are major positive fluctuations in the dailey value. At 10%, who would want to play this game at all?

Share this post


Link to post
Share on other sites
I'm trying to understand where you are coming up with this 10% business. There is a bt100 difference between the buying, and selling price for Thai gold, by the baht with either jewelry (23 carat), or bar gold (24 carat), then there is the bt300 handling fee. At bt25000 for bar gold this morning that doesn't quite figure to be 10%. Where are you getting your 10% figure from?

You buy, and sell from the same shop. There is a bt300 fee when you buy, then a bt100 reduction in the price when you sell, plus again the bt300 fee. Both in, and out that only comes to bt700 per baht. Where are you getting the 10% from? Are you equating this to buying gold from a Thai shop then selling in the USA, or some other country?

I've mostly seen it with jewelry which is what many people end up "investing" in. You're going by the straight quoted prices.

Also, why would there even be a market for gold if the markup was only 300 baht? Wouldn't the fee be a percentage of purchase price? Are you telling me I can walk into a gold shop in Bangkok and buy a ton of Thai gold with only a 300 baht fee?

If gold is trading at $1704 an ounce and you claim that there is a 300 baht fee, that means that the dealer's profit margin is 0.528% if you buy an ounce of gold. I would love to see a company that could operate on such a low profit margin (and that's gross, not net after taxes and expenses).

Even doing a quick search on the internet shows that most gold shops that operate in Thailand make a least a 5% spread between the actual price of gold and the quote you see in the shops. Then there is a markup for the design which is on top of the spread. I think the mistake that you're making is that you assume the quoted price in the shop is the actual cost of the gold.

10% might be a little high. It might be closer to 7% but it's a huge commission to overcome if you're looking to trade in gold for profit.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

×
×
  • Create New...