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David Einhorn is following Fooldom

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July 18, 2009 – Comments (6) | RELATED TICKERS: GLD

And for proof of the decline in the economy, all one needs to do is look at the earnings of the S&P500, the 500 biggest corporations in America, which are down to a measly $6.86 in earnings, down from last year's $84, which, with a current price of $896 for the index, gives a laughable P/E ratio of 130 for the S&P500! Hahaha! "Invest for the long-term by buying stocks that are so ridiculously overpriced that it makes you laugh so hard that it would make Graham and Dodd pee in their pants!" Hahaha!

-- The Mogambo Guru

BREAK=======================

After losing + 20% last year, Einhorn decided to follow the leaders here at Fooldom. See if you can guess which Fool Einhorn is reading after this video:

Although I am the Top Underperform player in Fooldom. I like Gold. I have writen about it several times. But you should own the physical gold, not paper gold or ETFs.

6 Comments – Post Your Own

#1) On July 18, 2009 at 2:23 AM, kaskoosek (64.09) wrote:

Great news

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#2) On July 18, 2009 at 2:27 AM, kaskoosek (64.09) wrote:

My fault

 

I thought that the GLD ETF was switching to real bullion like CEF. 

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#3) On July 18, 2009 at 5:09 AM, abitare (52.23) wrote:

FYI - here is the orginial post :
Greg McCoach "Don't Buy Gold ETFs", Gold Bull James Turk Talks about Silver November 30, 2008

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#4) On July 18, 2009 at 5:23 AM, portefeuille (99.60) wrote:

Greg McCoach "Don't Buy Gold ETFs", Gold Bull James Turk Talks about Silver November 30, 2008

Greg McCoach "Don't Buy Gold ETFs", Gold Bull James Turk Talks about Silver November 30, 2008

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#5) On July 18, 2009 at 1:05 PM, robstuck (< 20) wrote:

where is the best place to buy gold bullion for the average joe? 

 

Also, given the many uses of silver, and the fact that silver usually lags behind gold and continues to increase in value once the economy has started to recover (and gold's value declines) due to silvers industrial uses would you suggest buying silver as well?  

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#6) On July 18, 2009 at 3:52 PM, Rebkong1 (< 20) wrote:

the best place to buy gold and silver bullion is @ www.apmex.com 

 

EVERYONE should own some in these times....

 

IMO rob i think while gold may jump  2 or 3 x from current prices you could realistically see 5 and 6x jump in silver 

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