Khane
Got something right about marriage
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Do you work for an AI company? Because if not most companies didn't beat the S&P this year.
Investing General Discussion
- Thread starter Furious
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Do you work for an AI company? Because if not most companies didn't beat the S&P this year.
Haus
I am Big Balls!
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(As has been discussed a bit elsewhere)... I'm in cybersecurity, I suppose we're "AI Adjacent" as we have explicit AI security tools we sell. Admittedly only 4-5 of the "major" cybersecurity players I know of were above the S&P. But our top two competitors are both on that list, just sucks a bit as this is the first year in the last 5-6 or so I'd say I wasn't very happy with the company's stock performance.
Furry
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This is probably just empty messaging. The Uranium industry in the US is pretty much extinct already. I mean we do mine and process some Uranium, but its like a fraction of 1% of what we need to fuel our current nuclear reactors. Expanding the industry back to the point where we could just fuel our current reactors would be a sizeable 9 figure number. I believe the CBO estimated around 350Billion, and they've never underestimated costs before.
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Feels shitty on my end.
I thought inflation was going to be a big problem in 2021 and bought about $20k worth of gold, $5k worth of silver. I ended up selling it all at breakeven after seeing the price of everything else rising but precious metals weren't doing anything. Had I held, today that would be worth $47,000 and $12,000. $60,000 today vs $25,000 back then.
But then hindsight is always 20/20..
In what scenario is owning precious metals even worth it? If you see their value rising, are you going to sell it for weakening dollars? Otherwise in a situation where society has gone lawless (power outage, hyperinflation, etc), do you plan on walking safely to a grocery store and exchanging your precious metals for food (to the cashier who for some reason has shown up to work at a store which is likely being looted, and knows the value of your precious metals relative to all the goods in the store)?
Seems like it's nothing more than an investment vehicle like anything else.
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Mostly yes. That and a store of wealth that "supposedly" does as well as stocks and sometimes better. The idea has to be to sell eventually to buy stuff you want/can enjoy, same as with any other store of wealth.
The thing with metals though, is beyond just being a store of wealth they have actual practical uses. Industrial and cosmetic.
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Gravel
Mr. Poopybutthole
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Some of my wife's family work at the gaseous diffusion plant in Paducah. They were getting ready to decommission it sometime in the last decade, and then it was like, just kidding, we should spin it back up again.
This country doesn't really take nuclear seriously.
Gravel
Mr. Poopybutthole
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I've made this post several times over the last two decades, but if shit really hits the fan where you'd need gold, you would've been better off with bullets. And if you need bullets, the reality is you probably should've made a plan for either family or neighbors, on large scale (dozens or hundreds of people) to defend whatever resources you have. Otherwise a bigger group is just going to come and take your bullets.
Gold could theoretically be useful for fucking off out of the US to another country. But the reality is it's the 21st century and globalism will take everyone down at once. And if it doesn't, well, you could've just thrown the money you put into gold into another country directly because it's not the fucking 1910's where you need to carry physical currency or metal across borders.
This is one area where crypto got it right. Any scenario where you'd need gold, crypto is superior for. The one downside being that so far crypto doesn't even seem remotely disconnected from actual fiat currency so it's also kind of worthless.
Hypothetically if I had held onto my gold/silver; looking at where it's at now, I wouldn't sell. So even as an investment vehicle it's just like holding onto a stock.
And to your point, yes, in a SHTF scenario, like a power outage tomorrow or hyperinflation hits overnight, nobody is going to be thinking "well good thing I have this silver/gold, I can barter for stuff with it".. in that type of situation you had better have enough food/water to last you long enough without needing to leave home.
As for crypto, I do own some BTC, but it has it's downsides such as it can be manipulated via whales offloading their positions and breaking key support levels as well as being tied to the internet/power grid. No power/internet = your BTC is useless.
The only real use for gold is likely as you said; a global currency that will hold value wherever you go. So if you need to defect, gold would be a good option.
Tmac
Adventurer
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TJT
Mr. Poopybutthole
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As I already have a lot of investments at this point I bought a good amount of silver coins when they were ~$45. This was mainly because I thought it was cool and I had some cash laying around as, if anything, you just don't want to hold too much cash in general. Rather than put a relatively small amount into the stock market again I opted to just buy ~$12k of 1 oz silver coins. 300 of them. Cool to see that double in value at least on paper but it really doesn't matter one way or the other for me. I gave 10 of them as gifts to friends and family over Christmas.
In my retarded opinion, don't go all in on it or anything but having some of your money in silver or gold is kind of cool. Also fuck banks. If its cash you were going to sit on for whatever reason anyway it beats even high yield accounts. You could of course just throw it into SPY as well and have a similar outcome. A little bit of diversification never hurts though and at the moment the precious metals can give you a nice amount of volatility.
If you buy from APMEX.COM or something they make it easy to sell back to them. Especially if you buy their APMEX tagged stuff to begin with and you get a good price that way.
In my retarded opinion, don't go all in on it or anything but having some of your money in silver or gold is kind of cool. Also fuck banks. If its cash you were going to sit on for whatever reason anyway it beats even high yield accounts. You could of course just throw it into SPY as well and have a similar outcome. A little bit of diversification never hurts though and at the moment the precious metals can give you a nice amount of volatility.
If you buy from APMEX.COM or something they make it easy to sell back to them. Especially if you buy their APMEX tagged stuff to begin with and you get a good price that way.
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Actually:
"Yes, jewelry accounts for the largest single share of the world's gold, using nearly half (around 45-50%) of all gold ever mined"
So yes , for the majority of investors, they are using it cosmetically. Even in crapy countries, a woman's gold goes with her if she is ever kicked to the curb, for example.
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Why does everyone jump straight to "well gold is worthless because in the apocalypse the road warriors will just steal it"?
The post above about shit hole countries lining up after each paycheck to buy gold is what we are talking about. When you don't trust the government, you don't trust them with control of your cash. Gold secures the work you did in a form that others can't fuck with, until you are ready to spend it.
I know nothing about crypto but I'd hazard to guess if the apocalypse comes and all electronics melt in a solar flare or wtf ever, your crypto is worth shit. Also, I'd trade someone some bread for a gold coin. I won't give you a drop of my piss for your entire "crypto wallet" in the apocalypse.
The post above about shit hole countries lining up after each paycheck to buy gold is what we are talking about. When you don't trust the government, you don't trust them with control of your cash. Gold secures the work you did in a form that others can't fuck with, until you are ready to spend it.
I know nothing about crypto but I'd hazard to guess if the apocalypse comes and all electronics melt in a solar flare or wtf ever, your crypto is worth shit. Also, I'd trade someone some bread for a gold coin. I won't give you a drop of my piss for your entire "crypto wallet" in the apocalypse.