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Old 12-02-2013, 12:11 PM   #1
NN5I
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Default Dumb luck

Two or three weeks ago I decided silver was about to go up, and thought I'd buy some silver bullion. Silver was about $22.70 an ounce that day, so I bought 100 ounces on eBay for $2300.

Several days later the guy refunded my money, saying he couldn't deliver 'cuz he's in Afghanistan and his brother-in-law had sold the bar. So I got all my money back.

Since then, I've been following silver on the Kitco web site, and silver has lost more than 10% of its value.

Saved from my folly by pure dumb luck.
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Old 12-03-2013, 10:25 AM   #2
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Sometimes you gits th bear, sometimes you gits got by th bear
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Old 12-03-2013, 10:45 AM   #3
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This morning silver is at about $19.20, down more than 15% from when I decided it was about to go up.
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Old 12-03-2013, 12:16 PM   #4
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Carl, It's much, much better to be lucky than good any day.
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Old 12-04-2013, 06:19 AM   #5
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That is why they call it "Playing the market" like they do "Playing the ponies" at the race track.

You got lucky and broke even.. Most don't do that well.
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Old 12-10-2013, 06:23 AM   #6
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From the old guy, I've learned at my old age that the best investments in life are the good memories we invest in. At the end that is the joy we get the greatest payback on. Cheers and 73's (KL7IEK)
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Old 12-10-2013, 07:36 AM   #7
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Welcome aboard nightstars

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Old 12-10-2013, 12:57 PM   #8
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On the other hand, silver, unlike paper stocks, will never be worth 'nothing'. Go up & down like the rest of the market, sure. But, in my case, I buy silver an ounce at a time (not having large chunks of cash to play with) so my 'losses' are also in smaller chunks. The overall trend over the past 10 years is 'up', however. I had the urge to buy in hand silver about 10 years ago when my 401k was in the futures market (worst possible place, by the way) with $80k floating out there. IF I hadn't listened to the 'stock market expert' broker (and IF he hadn't pulled a totally stupid and amateurish move with no stop-loss marker), putting that kind of money into $3/oz silver, I'd now have 'bout $500k at last weeks prices. Instead, I get to work until I drop dead, with no more retirement funds, evaporated in a single day's trading loss.
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Old 10-06-2014, 07:01 AM   #9
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And this mrning silver is at about $17 -- a four-year low. Still on the way down, perhaps. I get luckier, and dumber, every day.
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Old 10-06-2014, 07:51 AM   #10
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Kind of brings to mind the Hunt brothers and Silver Thursday.
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