Agnico Eagle Mines Ltd. (NYSE:AEM)
CAPS Rating:
Agnico-Eagle Mines explores, develops, and produces gold in the United States, Mexico, Canada, and Finland.
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Agnico-Eagle Mines explores, develops, and produces gold in the United States, Mexico, Canada, and Finland.
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I'm having trouble laughing at these gold mining stocks. I can only see the lost savings of all the newbs buying into this prop job, One of my friend's dad went all-in long SLV at 19.50 last summer in his IRA. That cost him a good 150k. All the evil people (avoiding expletives for all the CAPSters with sensitive ears) touting and promoting these fraudulent companies at 3x their real value better enjoy sulfer cause their afterlife ain't going to be fun. Selling junk to uniformed people puts you in the lowest rungs of hell in my opinion. It's almost as evil to tout GG at 30 as it is to tout RPRX at 11... large losses are guaranteed either way.
Gold at all time highs and GG @ 40.
When I hear that someone lost his entire retirement on Enron or someone went all-in long on SLV, I wonder
HOW COME THEY HAVE MONEY BUT THEY NEVER HEARD OF DIVERSIFICATION?
Ignoramousii and their moneys are eventually parted.
Gold and silver seem similar but are quite different. The entire annual gold production, worldwide, is about 50 million ounces. That means, 50 million Indians could buy one ounce each, which would consume one year's production.
This is not far fetched. Europe just printed a TRILLION DOLLARS to bail out Greece.
Also, when banks or auto makers pay back their TARP bailout funds, the $$ are not removed from circulation.
Owning gold or stock in gold miners is an effective and available and proven method to preserve wealth.
FINALLY someone who bought SLV at $19.50 is not likely to find a better investment. There's an enormous amount of information on the web, including Motley Fool, for anyone with a little initiative. In the words of Yogi Berra, You can observe a lot by looking.
Your friends dad was and idiot. If it cost him 150k, i guess you mean he sold it at about $8, which means, he bought the absolute high and sold the absolute low. thats smart investing. now that silvers near $30, I bet he feels stupid. tell him to seek advice from a professional. When my pipes burst, i call a plumber, cause I'm a financial manager, i dont know anything about plumbing. most people wouldnt attempt to operate on themselves. thats just common sense, something people are lacking these days.
If your friend's dad held on he made a bundle. Last time I checked slv was pushing $30. He paid $19? I'll take that kind of "pain" all day long!!!
silvers now at 40 guess he was smart but impatient. this i can have a laugh at.