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TMFAleph1 (95.08)

Gold Exit Price

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August 08, 2011 – Comments (17) | RELATED TICKERS: GLD , SLV , AUY

I thought the goldbugs might be interested in something Tom Gardner just posted as part of today's Live Chat:

"Josh, my sale price on gold would be $2100. Everything above there looks like emotional fluff. We met the lead gold fund investor at Paulson Capital a year ago...his presentation convinced me that the bubble would form around $2000. Which of course means it can go much higher from there. But I don't like to ride bubbles.

 

17 Comments – Post Your Own

#1) On August 08, 2011 at 1:40 PM, whereaminow (< 20) wrote:

Can you get through one gold related post or article without using the term "goldbug?"

David in Qatar

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#2) On August 08, 2011 at 1:54 PM, Dow3000 (< 20) wrote:

It is truly easy to see how most people lose money when "a top investment site" spreads this kind of idiotic nonsense.  Are they aware the morons on CNBC have already called the gold "bubble" about 5000 times in the past ten years.

QE3 coming very very soon, if not the stock market goes to true value much lower...gold will go up regardless as all fiat turns to toilet paper

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#3) On August 08, 2011 at 2:02 PM, Frankydontfailme (27.51) wrote:

JPM says gold 2500 by end of the year, GS says 1830 12 month target.

Alex is smarter than the collective JPM and GS.

Seriously though... ibanks getting in gold does scare me.... 

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#4) On August 08, 2011 at 2:04 PM, Frankydontfailme (27.51) wrote:

Hell even a Gardner liking gold in the shor term starts to scare me... pullback time? Margin hike? Buy the dip....

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#5) On August 08, 2011 at 2:17 PM, TMFAleph1 (95.08) wrote:

Can people leave their ego out of the discussion for once? I posted this because I thought some might find it interesting, but, apparently, most people are more interested in attacking me.

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#6) On August 08, 2011 at 2:22 PM, whereaminow (< 20) wrote:

most people are more interested in attacking me.

People who live in urinals shouldn't pee on everyone else.

Get through ONE post or article without using the term goldbug. Then maybe you'll get some respect from this crowd.

David in Qatar

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#7) On August 08, 2011 at 2:28 PM, TMFAleph1 (95.08) wrote:

Get through ONE post or article without using the term goldbug. Then maybe you'll get some respect from this crowd.

I'm not looking for your respect; I don't need that kind of affirmation. I was simply observing that goldbugs appear incapable of interacting at a non-emotional level.

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#8) On August 08, 2011 at 2:33 PM, whereaminow (< 20) wrote:

I was simply observing that goldbugs appear incapable of interacting at a non-emotional level

And you are incapable of professionalism or courtesy, but you cry about getting attacked.

Would you like some cheese with your whine? 

David in Qatar

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#9) On August 08, 2011 at 2:37 PM, eldemonio (98.65) wrote:

Today's market action would suggest that the majority of investors are incapable of interacting at a non-emotional level. 

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#10) On August 08, 2011 at 3:16 PM, Frankydontfailme (27.51) wrote:

Except for gold bugs eldemonio :)

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#11) On August 08, 2011 at 3:19 PM, TMFAleph1 (95.08) wrote:

eldemonio?

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#12) On August 08, 2011 at 3:30 PM, eldemonio (98.65) wrote:

My gut tells me that my strategy of stockpiling guns, ammo, and hand sanitizer will pay off toward the end of 2012.

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#13) On August 08, 2011 at 4:30 PM, rfaramir (29.30) wrote:

David, by using the term, Alex was hoping for attention from you. You gave it to him. He wins. We'd like our children not to react emotionally when insulted on the playground. How realistic is that when on the near-complete-safety of the internet we cannot do the same?

Alex: "Can people leave their ego out of the discussion for once?"

Um, you didn't, with your personally insulting intro and attempt to bolster your weak personal position that gold is in a bubble now.

"I posted this because I thought some might find it interesting"

No. It seems more likely that you wanted to show off to the "irrational gold lovers"(*) an authority figure (weak arguing) talking about a gold bubble.

(*) I don't mean for this to represent quoting your words. It is simply the obvious implied meaning of 'goldbug' as you've used it.

If anything, Mr. Gardner's position is that gold is NOT currently in a bubble. He by said "the bubble would form around $2000" so he means it has NOT formed a bubble yet but WILL be in one once it goes above 2000. (Unless by 'around' you think he would include the current price, $1719.05.)

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#14) On August 08, 2011 at 6:43 PM, TMFAleph1 (95.08) wrote:

No. It seems more likely that you wanted to show off to the "irrational gold lovers"(*) an authority figure (weak arguing) talking about a gold bubble.

@rfaramir,

It may seem more likely, but it isn't the case. I don't derive personal satisfaction or a sense of self-worth from that sort of thing. This may come as a surprise, but the opinion of people on CAPS simply isn't that important to me. I genuinely thought people would be interested in this reference point, since Paulson & Co. is arguably the largest gold investor in the world. How naive I was.

I think gold is a bubble -- I'm reasonably confident of it -- but I accept that I could be wrong and I am very interested in hearing well-reasoned arguments to the contrary. This as an intellectual question for me, not a pitched battle. I'm not trying to score victories or points.

Furthermore, I would be an idiot to use that information as a evidence to bolster my position on gold. Apparently, Tom Gardner doesn't believe that gold is a bubble yet, which isn't my position. [Sorry for repeating what you wrote, but I actually wrote that before I read the final paragraph of your post.]

I didn't realize the 'goldbug' moniker elicits an epidermic reaction from gold enthusiasts. Personally, when someone calls me a 'statist', 'paper bug', "Keynesian so-and-so", etc. it doesn't stop me in my tracks, particularly if they have something else to say that might be of interest. That someone would stop there suggests to me that they have too much invested emotionally in this topic.

 Alex Dumortier

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#15) On August 08, 2011 at 8:49 PM, rfaramir (29.30) wrote:

'Goldbug' doesn't "stop me in my tracks" either, though it alerts me to someone else's opinion. It doesn't bother me too much, personally, either. But it is meant pejoratively, and many react that way to it. Some racial slurs were used affectionately by slave owners, and the same are used today by blacks to each other, but you'll definitely get an emotional reaction if you use them yourself.

"Apparently, Tom Gardner doesn't believe that gold is a bubble yet, which isn't my position."

Wait, I thought it WAS your position that gold is in a bubble! Are we misunderstanding each other or mis-typing? (I mistyped when I tried to correct my "he, by saying" to "he said" but left it as "he by said" by mistake.)

ref: http://www.fool.com/investing/general/2011/08/03/gold-isnt-the-big-trend.aspx

“I believe that gold is a bubble”

Then again, this was you, too, in April of 2010 (reiterated Oct 2010):  http://www.fool.com/investing/international/2010/04/19/there-is-no-gold-bubble.aspx 

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#16) On August 08, 2011 at 9:25 PM, TMFAleph1 (95.08) wrote:

"Apparently, Tom Gardner doesn't believe that gold is a bubble yet, which isn't my position."

My turn of phrase is ambiguous, but the view that isn't my position is "doesn't believe that gold is a bubble yet."

'Goldbug' doesn't "stop me in my tracks" either,

I was referring to David in Qatar here.

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#17) On August 08, 2011 at 10:41 PM, TMFAleph1 (95.08) wrote:

“I believe that gold is a bubble”

Then again, this was you, too, in April of 2010 (reiterated Oct 2010):  http://www.fool.com/investing/international/2010/04/19/there-is-no-gold-bubble.aspx

I'm certainly not embarassed about having the capacity to change my mind on any given issue in light of new data. If you were reproaching me the incapacity to change my mind, that would be a different matter altogether.

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