March 18, 2008
– Comments (9) |
RELATED TICKERS: WFM
(referring to the thread below, the Cramer thing...)
But here I am doing my best Cramer imitation -- though you gotta watch the whole thing before we get to the monkeyboy routine.
You need some bababBooyah. And don't forget to shill for Goldman Sachs. And what about some very bad stock ideas?
I've never watched Cramer, so now I know how to recognize him...
Very astute overall. However, "Gold is a worthless commodity?" I know what you mean, and in principle, I agree. However, people are paying quite a bit for gold these days, and that is what "worth" means.
I do think that people tend to think that buying stock in a gold mine is the same as buying gold, and to those people I laugh heartily.
Anyway, a good show! Thanks!
Gold is a worthless commodity because the symbol GLD and even gold contracts are just pieces of paper. People are paying for paper gold, and that is a worthless commodity.
What we have (and always has been) is people bidding up papers for a small fraction of the actual gold supply. So, unless you own gold bullion -- Who cares? What are you going to do with gold bullion? Can you fill your tank, eat it, or will you melt it into an ear ring?
People are a century in the past that think gold is a viable currency. We have moved to an oil standard and ever since the Dutch Disease has entered into economics.
Seth!! We want the cute babe back! I don't have anything against Chris, but the babe was 10X more enjoyable to look at!
And speaking of Cramer (dunno if this will work, trying to embed a video):
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Got it. Sorry for the double post:
My view is that you've described "price" more than "worth." I think the two are different, but that's semantics. People have indeed been piling into the shiny stuff, and it's done a dang stretch better than most stocks over the last few months.