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pinkflamingo
ParticipantI do remember reading somewhere that the amount gld is leveraged. To what degree? idk. I’ve read that CEF hold at least 97% of total net assets in physical gold and silver at the Canadian Mint. Tax savings is also great.
CEF also allows shareholders to redeem actual bullion on a monthly basis, though the fees to conduct such redemptions are quite steep and an investor must own 100,000 units to qualify.
If you are worried about redemption there is also the equivalent of CEF for Australia. AAAU. Like cef, it’s backed by the aus mint. It doesn’t have the tax savings, but you can redeem it for lesser quantity, gold coins.
ParticipantI’m with Grantham (or he’s with me – take your pick):
So far, Jim Rogers, and Ray Dalio, and Warren Buffet are all with you I’d say. 🙂
ParticipantSilver is definitely cheaper. In fact, silver/gold ratio is at all time highs. And if you look back at the 08 recession w/e to QE, silver did just as well in terms of percent gains if not better. We own about 50/50 split between CEF/PSLV
We would like to positioned our portfolio at 20% metals by end of next year. Waiting for the market to dip to get the other 10% in hopes that metals will also dip due to margin calls again as in Mar. When will this mania end? Then again, if every thing dips, buy gold or just buy snp?
Why 20%? Because Golden butterfly, Dragon portfolio and the likes of them recommend 20% Gold. Are these portfolios hyped? Probably. But this year so far we are at 9 trillion, between fed and gov. Some predict we will need another 10 before this is over. I can’t imagine gold/silver going down with the current fed/gov policy.
I would like to look into mining. Gold and silver maybe even uranium. But so far I have not determined what I should be looking for. And I am hesitant to buy into something that I do not understand.
ParticipantWe are starting with 10 as insurance.
ParticipantWith the way the fed/gov is printing, it seems like a good bet. We recently acquired some.
With that said, I wonder if precious metals will dip during the upcoming crash as it did back in march. I don’t fully understand why gold and silver dips in a market crash. My guess is people have to sell to cover liquidity issues, in which case why not buy during the next crash? Rich would say that is trying to time the market, which is why we bought some now.
The question shouldn’t be, should you own gold, but how much. What do folks here think is the right allocation of precious metals as a percentage of their portfolio?
June 28, 2020 at 10:39 AM in reply to: What are people seeing in terms of loan rates, difficulty in getting loans? #818523ParticipantI know I really shouldn’t do this after years of paying off my properties. But its really tempting to do cash out refi on some of them and buy more, or at least put the money off to the sideline until better deals come.
I am wondering if anyone is considering getting a heloc as oppose to a cashout refi. I don’t know if the heloc payments are much higher …
June 28, 2020 at 10:30 AM in reply to: What are people seeing in terms of loan rates, difficulty in getting loans? #818522Participantas far as negotiating rates while locked, just continue to shop for rates. if you find a better rate, let the original lender know. the worst thing that can happen is that they say no, and you decide to not refinance with them (may be a small sunk cost with credit check fee).
Thanks brg654.
I did follow zillow rates during the refi mostly in fear it wouldn’t close in time. Unfortunately and fortunately the rates were never lower. But it’s good to know for the future.
June 27, 2020 at 11:58 AM in reply to: What are people seeing in terms of loan rates, difficulty in getting loans? #818519ParticipantFees?
Sebonic via Zillow, which is what I used for my last purchase, has a refi rate of 2.99 0 fees right now and 2.818 with 1 point. This is for 480k on 1+ mil property.
I’m inclined to 0 points or less likely go negative points.
Our fees were about 5K. The main reason being we had a high balance loan.
IMO the conquest program by UWM was the best. We looked at sebonics and first mortgage and we almost went with FM. Then I found the article that UWM came up with their conquest program. FM couldn’t beat their rates. They are offering rates between 2.5 – 3.0.
Initially I was concerned with the short close required but they managed to close in 3 weeks. I’m glad I took the leap.
June 27, 2020 at 11:45 AM in reply to: What are people seeing in terms of loan rates, difficulty in getting loans? #818518ParticipantJune 25, 2020 at 2:36 PM in reply to: What are people seeing in terms of loan rates, difficulty in getting loans? #818505ParticipantWe just refi-ed. 3 week close 30yr/2.875. Details on this thread. https://www.piggington.com/mortgage_rate_advice_needed_news_uwm_yesterday
Participant-1800
ParticipantFyi, we decided to go with UWM. They were able to close in 22 days. They waive the appraisal if you are financially sound. They fund tomorrow. 3 week refi. Pretty neat.
ParticipantThis just happened. Is this in America?
Please make this go viral. I am begging you. Police and National Guard patrolling neighborhood and shooting civilians on their own property. Make America see this, I beg you. [Minneapolis]
by in Bad_Cop_No_Donut
@Flyer, Fox News has gotten worse and so has their rhetoric. Last vacation we had, in-laws talked about how Kavanaugh was innocent daily. At first I responded, well it seems strange a Stanford professor would put herself out there. It’s not like she has lack of means and needs to lie. Not to mention he does have a problem with alcohol and blacking out. But I resorted to stay neutral and said that it’s something that happened decades ago with no witnesses only the two of them knows what happened. They continued to hound us to agree that he was innocent daily. Finally my spouse said, hey let’s not talk about this on our vacation, to which they were like these kids these days, they care about nothing important. Fox News make people so antagonistic. I’m okay if our opinions are different, but Fox News makes people mad to even talk about things.Recently I quoted a wsj article stating that the test kits were lacking. In-laws were like “That’s liberal propaganda!” When someone says the wsj is liberal propaganda … I don’t think we can have a rational conversation.
My spouse is wonderful and not brainwashed. We don’t have cable TV. In-laws are nice people they actually give money to family members in need and donate to UC and are highly educated, we all are. One of them actually voted for Clinton way back when. Like the movie, I hope that if they get any other source of news they would see Fox for what it is. The issue is would they ever choose to?
ParticipantThanks for this sub forum zk. I had the unfortunate experience of posting on fb about the recent “When the looting starts, the shooting starts” and “only good Democrat is a dead Democrat” tweets. In-laws jumped to say, democrats are pro violence just look at ANTIFA. They can’t even admit that something so egregious is wrong coming from a president.
It’s been a challenge having chronic fox news in-laws. We have been trying to ameliorate the situation but it’s exacerbating probably because of the pandemic and election year. We’ve found a documentary, “Brainwashing of My Dad.” It’s on amazon. We enjoyed the back story of fox news the progression of news in general. Essentially fox news uses anger to attract viewers, which explains why most of them are so angry most of the time.
And we found several posts of this sort on reddit.
Has anyone successfully weaned a loved one off Fox News?
by u/SparklingH2oh in MaherFamily gatherings are becoming a drain because all they want to talk about are fox news talking points. We joke about hacking their cable tv to block fox news.
It nice reading this forum. thanks
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