SteadyMercury
Gold Member
- Jan 1, 2013
- 4,731
- 1,202
- 190
lol I might have typed something like this in 6th gradeIf you want a battle of insults, prepare to lose and lose BIG.
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lol I might have typed something like this in 6th gradeIf you want a battle of insults, prepare to lose and lose BIG.
I've read that it costs about $1,200/ounce to mine and process gold. Izzat right?
I don't know if that's true or not.
Last number I heard was ~$950, but that might just be the cash costs. I don't follow it anymore.
Ten years ago, when I was following it pretty closely, the cost of manufacturing gold was $350-$400.
From the illustration above it is impossible to determine being the fact that those are stock prices in mining companies.
So look at the price of gold from when he started buying it to what it is today and tell us how much he's lost.
You're not making any sense. The list shows prices of mining company stock. Not futures prices for gold.
Ask Ron Paul.
Dude loaded up his investment portfolio with as much gold, gold mining stocks as he could while pushing for a return to the gold standard and predicting economic collapse and hyperinflation around the corner. Now look at him:
Ron Paul Is Personally Losing A Fortune Because Of Gold Tanking - Business Insider
At time of article he had lost over 40% in just six months. Quite the economics wizard.Newmont Mining Company: 37.29%
Goldcorp Holdings: 34.64%
Barrick Gold: 48.17%
Agnico Eagle Mines : 35.78%
Allied Nevada Gold Corp: 68.48%
Alumina Common: +6.32%
Anglo Gold Ashanti Ltd. 44.13%
BrigusGold Corp. Com MPV: 39.18%
Claude Resources Inc: 56.39%
Coeur D'Alene Mines Corp: 47.21%
Hecla Mining Co: 47.74%
El Dorado Gold Corp: Not Listed
IAM Gold Corp: 65.40%
Kinross: 44.11%
Lexam Explorations Inc: 57.57%
Mag Silver Corp: -40.50%
Metalline Mining Co: Not Listed
Pan American Silver: 35.97%
Silver Wheaton Corp: 37.50%
Virginia Mines Inc: 16.48%
Vista Gold Corp. 53.9%
Viterra Inc +0.81%
Wesdome Gold Mines Ltd: 43.29%
Wow you really believe the value of what they are pulling out of the ground has zero impact on their profitability and thus stock values? It isn't an exact correlation (mainly because they lock in future prices) but they are certainly related.No. You are complaining that Paul made bad investment because the stock price of the mining stocks he owns has fallen.
This has ZERO to do with the commodities exchange value of gold.
I'm aware of the recovery of the stock market since 2009, thanks.I have investments. I have an index fund tied to the S&P 500. In 2009 the index was around 900. It's around 1600 now.
All of the stocks in the portfolio of my wife's 401k were down back then. The values have recovered and those are actually ahead of where they were before the drop.
Where's the issue here?
I'm honestly baffled at what point you're trying to make here. From what I can tell you seem to believe the fact that his stocks may recover someday means a 40% drop in six months isn't so bad. That isn't the case, he had a shitty poorly diversified portfolio that took a dump regardless of speculation on future economic cycles.
Really? Any 10 year period shows a net ROI of 12?Over the last 10 years and any 10 year period show a net ROI of 12% in the stock markets.
You've no clue. Stop posting about this.
Like say 2000-2009?
1966-1975?
1929-1938?
1906-1915?
Kinda ironic the whole "you haven't a clue" thing in there isn't it?
lol I might have typed something like this in 6th gradeIf you want a battle of insults, prepare to lose and lose BIG.
What difference in the mining stocks does the price of gold make?So look at the price of gold from when he started buying it to what it is today and tell us how much he's lost.
This is that equivalent to oil stocks. Just because the commodity price of crude oil is roughly double what it was 4 years ago did not translate to proportionately higher oil company stock prices..
Commodities and securities markets are mutually exclusive of one another.
The claim that Ron Paul's investments are bad wasn't based only on mining stocks, however, but also on actual gold.
What difference in the mining stocks does the price of gold make?
This is that equivalent to oil stocks. Just because the commodity price of crude oil is roughly double what it was 4 years ago did not translate to proportionately higher oil company stock prices..
Commodities and securities markets are mutually exclusive of one another.
The claim that Ron Paul's investments are bad wasn't based only on mining stocks, however, but also on actual gold.
Nobody posted Pauls' gold futures holdings.
For the record, Ron Paul first served as a member of Congress in 1976. He has stated that the reason he initially ran for Congress was because of the government policies that he feared were destroying the dollar. So it is not a large jump to conclude that Dr. Paul was buying gold and gold stocks back then.
What was the price of gold in 1976? At it's peak that year it was $137.65. So yeah, he is probably "still above water" on his gold investments, given that even after the recent pullback gold is at aprox. $1,350.