Mario wrote:
> The USD640 per ounce is a simple average of USD280 and
> USD1,000. However, the actual average would also
> depend on how many ounces were bought at USD280 and
> how many at USD1,000.
-snip-
> For example, ignoring fees and commissions, if 10 oz.
> were bought at USD280 and 20 oz. at USD1,000, the
> average for these two transactions would be USD760 per
> ounce, not USD640.
Mario,
The flip side to the above is that, IF, one hundred oz. were bought at $280
and twenty eight oz. at $1,000 then the average price would be $437.50. Once
again, this is a big "IF" i.e. assuming that I was doing nothing while the POG
went from $280 to $1,000+. Gabe knows that I was actively trading gold too and
he only gave you the simplest scenario so that even you could
understand. Please try and remember that the secret to financial success is to
"buy low, sell high" i.e. buy plenty when the price is low. The clearest
signal to buy gold came from George Bush when he started his drunken
spending spree, spending more money than he was collecting in taxes.
The POG will fall only when the US reverses the actions that are depreciating
its currency.
> If I remember right, some Goanetters proudly bought
> gold at USD1,000 based on some free advice that was
> provided right here on Goanet, and they may have to
> wait awhile to make a profit. I have no problem with
> such advice assuming the advisor personally followed
> the advice that was being provided to others.
You have been on one other forum where I suggested buying a stock at .40 cents
and it then went to $10.00. If I remember correctly, it was you (or someone of
your ilk) who wrote saying I must be depressed when the same stock fell to
$5.00. All those who told me that they bought on my suggestion got reminders to
sell half their stock every time the price doubled. Those who are now buying
after I make a suggestion are NOT doing so only because they are comfortable
with my record. They are buying because they also want the luck in my pot belly
to rub off on them ;-)
Mervyn3.0
"There is a lot of money to pay for this that doesn't have to be U.S. taxpayer
money, and it starts with the assets of the Iraqi people. We are talking about
a country that can really finance its own reconstruction and relatively soon."
- Paul Wolfowitz, U.S. Deputy Secretary of Defense, testifying before the
Defense Subcommittee of the House Appropriations Committee, 3/27/03 -
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