..this is so true. Gold/Silver as in the physical form is boring and boringly lucrative in the long term. No worries over mismanagement, misrepresentation, high ASIC, production problems, operational issues, sovereign risk, climate change, financing etc....but no multibags as well, but with multibags potential also come risks of losing it all too.
..that's why market players want risk, the excitement in it all to pander to our gambling instincts and desires. It keeps the adrenaline going. But at the same time we could end up paying big $$ for the excitement. The many of you making a good fortune on one stock, but losing on all fronts on all others that went pear shape, to result in a zero sum game with nothing to show for. Or held too long to see all the gains whittled away quicker than seeing them developed over time.
...and all we needed to do is hold an appropriate level of precious metals and not to touch them. But that isn't fun.
Reading @RonStoeferle
's monumental oeuvre this morning I was struck by what a very boring investment gold is. No brilliant drill holes, no collapsing leach pads, no 10 baggers, no disastrous cost overruns, no M&A, no management with their fingers in the till. It’s a genuinely risk-free asset.
But we love risk, even when the odds are tilted against us. We all suspect that we might be James Bond in Casino Royale, or the man who broke the bank at Monte Carlo. And of course we love a wild ride with a whiff of danger – which is why rollercoasters are still in business. Given the current accumulation of geo-political and macroeconomic risk the rational investor would put all his money in gold bars and retire to the beach. But the beach gets very dull, very quickly. And so we won’t do that! DM me for details of my latest top pick – a highly prospective, potentially district scale Tellurium discovery in Uzbekistan!
