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Home › Forums › Financial Markets/Economics › Jeremy Grantham’s 1Q09 Letter: Fantastic as usual

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  • May 12, 2009 at 10:48 PM #398360
    scaredyclassic
    Participant

    i do remmeber reading that book, SALT that came out a while back, about the value of salt. salt was big business. the derivation of the word salary cmes from salt i think. worth his salt. yes, salt was big. I’m glad i didnt go long salt. well, nothing has any intrinsic value. gold is as good an arbitrary point for storing value as anything else. it doesn’t deterirotate, it can’t be rezoned, burnt down, it has no liabilities attached to it. it just is.

    May 12, 2009 at 10:52 PM #397691
    scaredyclassic
    Participant

    social security’s bust. the usa may lose its triple AAA rating. we’re broke. we’re rpinting dollars like no tomorrow. consumers are debt choked.

    i feel money is less risky sitting in gold miners stock than in the bank, practically…esp. if dollar cost averaged as aprt of regular savings…

    May 12, 2009 at 10:52 PM #397938
    scaredyclassic
    Participant

    social security’s bust. the usa may lose its triple AAA rating. we’re broke. we’re rpinting dollars like no tomorrow. consumers are debt choked.

    i feel money is less risky sitting in gold miners stock than in the bank, practically…esp. if dollar cost averaged as aprt of regular savings…

    May 12, 2009 at 10:52 PM #398162
    scaredyclassic
    Participant

    social security’s bust. the usa may lose its triple AAA rating. we’re broke. we’re rpinting dollars like no tomorrow. consumers are debt choked.

    i feel money is less risky sitting in gold miners stock than in the bank, practically…esp. if dollar cost averaged as aprt of regular savings…

    May 12, 2009 at 10:52 PM #398221
    scaredyclassic
    Participant

    social security’s bust. the usa may lose its triple AAA rating. we’re broke. we’re rpinting dollars like no tomorrow. consumers are debt choked.

    i feel money is less risky sitting in gold miners stock than in the bank, practically…esp. if dollar cost averaged as aprt of regular savings…

    May 12, 2009 at 10:52 PM #398365
    scaredyclassic
    Participant

    social security’s bust. the usa may lose its triple AAA rating. we’re broke. we’re rpinting dollars like no tomorrow. consumers are debt choked.

    i feel money is less risky sitting in gold miners stock than in the bank, practically…esp. if dollar cost averaged as aprt of regular savings…

    May 12, 2009 at 10:57 PM #397701
    scaredyclassic
    Participant

    allan wrote: You’re buying into the notion that gold (or silver) will have intrinsic value if the paper currency collapses. Well, I have news for you. Prior to 1971, the paper currency’s value was tied to existing gold reserves. Do you think that prior to 1971 there were no boom and bust cycles? Or inflationary and deflationary cycles?.Yours are specious arguments and not supported by fact or history.

    gold will have value if the paper currency collapses. and yeah, there were cycles, and all kinds of frauds and panics, but gold always came through. there is never a time in any financial history where people went broke holding on to gold.

    May 12, 2009 at 10:57 PM #397948
    scaredyclassic
    Participant

    allan wrote: You’re buying into the notion that gold (or silver) will have intrinsic value if the paper currency collapses. Well, I have news for you. Prior to 1971, the paper currency’s value was tied to existing gold reserves. Do you think that prior to 1971 there were no boom and bust cycles? Or inflationary and deflationary cycles?.Yours are specious arguments and not supported by fact or history.

    gold will have value if the paper currency collapses. and yeah, there were cycles, and all kinds of frauds and panics, but gold always came through. there is never a time in any financial history where people went broke holding on to gold.

    May 12, 2009 at 10:57 PM #398172
    scaredyclassic
    Participant

    allan wrote: You’re buying into the notion that gold (or silver) will have intrinsic value if the paper currency collapses. Well, I have news for you. Prior to 1971, the paper currency’s value was tied to existing gold reserves. Do you think that prior to 1971 there were no boom and bust cycles? Or inflationary and deflationary cycles?.Yours are specious arguments and not supported by fact or history.

    gold will have value if the paper currency collapses. and yeah, there were cycles, and all kinds of frauds and panics, but gold always came through. there is never a time in any financial history where people went broke holding on to gold.

    May 12, 2009 at 10:57 PM #398231
    scaredyclassic
    Participant

    allan wrote: You’re buying into the notion that gold (or silver) will have intrinsic value if the paper currency collapses. Well, I have news for you. Prior to 1971, the paper currency’s value was tied to existing gold reserves. Do you think that prior to 1971 there were no boom and bust cycles? Or inflationary and deflationary cycles?.Yours are specious arguments and not supported by fact or history.

    gold will have value if the paper currency collapses. and yeah, there were cycles, and all kinds of frauds and panics, but gold always came through. there is never a time in any financial history where people went broke holding on to gold.

    May 12, 2009 at 10:57 PM #398375
    scaredyclassic
    Participant

    allan wrote: You’re buying into the notion that gold (or silver) will have intrinsic value if the paper currency collapses. Well, I have news for you. Prior to 1971, the paper currency’s value was tied to existing gold reserves. Do you think that prior to 1971 there were no boom and bust cycles? Or inflationary and deflationary cycles?.Yours are specious arguments and not supported by fact or history.

    gold will have value if the paper currency collapses. and yeah, there were cycles, and all kinds of frauds and panics, but gold always came through. there is never a time in any financial history where people went broke holding on to gold.

    May 12, 2009 at 11:04 PM #397715
    scaredyclassic
    Participant

    where is the next bubble gonna be?

    green technology. naah.

    no guarantees, but i wouldnt fall over and have a heart attack if it were gold. im not talking my book. i’d be a little bit surprised. but not shocked. 500 or 5000 an oz, either way, times are so crazy, i think it’s a decent bet. i think the chance of catching the next bubble in gold is a hell of a lot giher than plugging along in the us stock market

    May 12, 2009 at 11:04 PM #397963
    scaredyclassic
    Participant

    where is the next bubble gonna be?

    green technology. naah.

    no guarantees, but i wouldnt fall over and have a heart attack if it were gold. im not talking my book. i’d be a little bit surprised. but not shocked. 500 or 5000 an oz, either way, times are so crazy, i think it’s a decent bet. i think the chance of catching the next bubble in gold is a hell of a lot giher than plugging along in the us stock market

    May 12, 2009 at 11:04 PM #398187
    scaredyclassic
    Participant

    where is the next bubble gonna be?

    green technology. naah.

    no guarantees, but i wouldnt fall over and have a heart attack if it were gold. im not talking my book. i’d be a little bit surprised. but not shocked. 500 or 5000 an oz, either way, times are so crazy, i think it’s a decent bet. i think the chance of catching the next bubble in gold is a hell of a lot giher than plugging along in the us stock market

    May 12, 2009 at 11:04 PM #398246
    scaredyclassic
    Participant

    where is the next bubble gonna be?

    green technology. naah.

    no guarantees, but i wouldnt fall over and have a heart attack if it were gold. im not talking my book. i’d be a little bit surprised. but not shocked. 500 or 5000 an oz, either way, times are so crazy, i think it’s a decent bet. i think the chance of catching the next bubble in gold is a hell of a lot giher than plugging along in the us stock market

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