February 2009

For “Just One Thing” John Mauldin asked some of the best minds in the world of investing to write down “one best investing concept that you want to pass on to your kids.” Their answers edited by Mauldin himself appear one per chapter and are the book.

Another billionaire, Sir R. Allen Stanford of Texas bytes the dust. SEC civil complaint alleges among other charges that Stanford and companies lied about the safety of the Stanford International Bank (SIB) CDs, that they faked historical data of other investments and that they falsely reassured investors that there was no exposure to losses from the Madoff affair. Today federal agents raided the offices of Stanford Financial Group and a U.S. federal judge ordered his assets along with those of his companies frozen and placed into receivership.

At the great risk of alienating all of the gold bugs out there, I hereby solemnly declare that today, February 11, 2009, I sold my entire StreetTracks Gold Trust ETF (GLD) position at $92.87 / share. I bet on gold outperforming by buying into the GLD ETF on 12/30/2004 at $43.80 / share. Now, a little more than 4 years later I got out with a 112% profit (not accounting for commissions).

Price of gold - GLD ETF chart

User login

Poll

Are you currently bullish or bearish on the economy and the stock market?:

Email Center

Username:

@StockValues.Org

Password:


New Users
Lost Password
I Need Help





Who's online

There are currently 0 users and 19 guests online.