Disclaimer: Nothing in this blog post, or in any other post on this blog, should be construed as personal investment advice. This is for entertainment only and for my own amusement in particular. If you want investment advice, hire a financial advisor.
Six weeks ago, I posted this:
All I know is that the precious metals are not cheap right now, and I won't be buying any time soon. Oil is cheap, and a few other things are "cheap enough," but I'm not jumping on the gold/silver bandwagon.
Silver had broken $100 per ounce, and gold had broken $5000 per ounce. Right now, silver is trading at about $81, and gold is at $5066.
The more interesting story is oil. Crude was trading at about $61 per barrel six weeks ago. It's currently around $114.
Now, I didn't foresee this Iran business, so I'm not really as smart as that blog post from January makes me seem. I didn't think oil would nearly double in six weeks. The underlying philosophy, though, is sound, and it would have borne fruit like this sooner or later. That philosophy is this: commodity prices are cyclical. Buy when the commodity is cheap, not when it's expensive. Don't chase the current hot thing. Instead, look at the commodities no one is talking about. That's where the bargains are.
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