Lock and Load with a Silver bullet
JUPITER, Fla. (M&M) -- The teeth-jarring correction in metals earlier this week sent many investors running for cover. Gold dropped over 3% in one day, and silver took even more of a shellacking. But the fundamentals on metals are still bullish, and that makes this a buying opportunity.
I'll get to that. First, let me tell you a story that was related to me by a subscriber at the Orlando Money Show. He recently sold a home in Sarasota, appraised at $250,000. One investor offered him exactly that amount. But my guy brushed off the offer -- after all, Florida real estate is "hot," right?
The next offer came in at $10,000 BELOW the appraisal, also from an investor. My guy wondered: "Only investors want to buy my house... doesn't anybody live in houses anymore?" He shrugged off that offer, too.
It was a while before he received a third offer... and it came in at $20,000 below the appraisal. This time, the seller panicked. He called his broker and shouted: "Take it! Take it!"
As the home sale papers were being signed, thieves broke into the house. All they stole was the copper plumbing.
This story tells me that something Americans have considered a solid investment for quite some time -- home sweet home -- may not be as solid as we think. Meanwhile, another long-neglected asset -- metals -- is becoming more rock-solid all the time. Unlike many assets -- including some bonds and stocks -- the value of precious metals will never go to zero.
( For the complete story, Click here )
I'll get to that. First, let me tell you a story that was related to me by a subscriber at the Orlando Money Show. He recently sold a home in Sarasota, appraised at $250,000. One investor offered him exactly that amount. But my guy brushed off the offer -- after all, Florida real estate is "hot," right?
The next offer came in at $10,000 BELOW the appraisal, also from an investor. My guy wondered: "Only investors want to buy my house... doesn't anybody live in houses anymore?" He shrugged off that offer, too.
It was a while before he received a third offer... and it came in at $20,000 below the appraisal. This time, the seller panicked. He called his broker and shouted: "Take it! Take it!"
As the home sale papers were being signed, thieves broke into the house. All they stole was the copper plumbing.
This story tells me that something Americans have considered a solid investment for quite some time -- home sweet home -- may not be as solid as we think. Meanwhile, another long-neglected asset -- metals -- is becoming more rock-solid all the time. Unlike many assets -- including some bonds and stocks -- the value of precious metals will never go to zero.
( For the complete story, Click here )
posted by Oil Shock at 10:34 PM
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