Chippy,
I don't trust the general stock market anymore. I will buy select few stocks, AMY is one of them.
Back in '87 I knew things didn't look good in stocks, I didn't get out before that crash.
I didn't get out before the tech sell off, even though I knew I should.
What was it in 2007...? I got out of stocks in my 401-K at 13,000 on the Dow, which was down from the top of right at 14,000. I knew once again things didn't look right.
I have not been in since and went to short term bonds in my 401-K, I just didn't trust the stock market, I didn't trust real estate and sat in that bond fund for about 15 months I think. Earning very little interest, but I just wanted preservation of capital.
Then I said, you know, the only thing I do trust is gold and silver. So, I borrowed all I could from my 401-K and bought silver. The interest I pay myself on the loan is greater than I was getting on the bonds, so it's a win win win for me. I have nearly paid off the loan, and will probably borrow the money again and buy more silver and gold.
Silver went from $20.00 where I bought it to nearly $50, and I continue to add to my holdings on big dips. I bought 30 ounces after the drop down into the low 30's at the beginning of October.
For being a working class guy, I have a big pile of silver, in collectibles and bullion.
Let's just say, when I lift up the box, I need to be careful in lifting it, I don't want to have to sell the silver to pay for a medical bill. And for 49 I still work out and run. I am on the second box for silver storage.
So, I love watching Kitco and I love opportunities to buy on the dips.
Thanks again, Chippy, I love the story of AMY as much as I do silver, maybe even more, if the world does not collapse.
I think with silver-for the collapse (and since it's also an industrial metal, it's also good for the non-collapse) and AMY for the non-collapse, with lead and smoke poles I am well set. Now I just need a place in the mountains. Someday, one of the two will buy me that place in the mountains.
George
Former Boy Scout,
Ranger and Green Beret
Always Be Prepared
