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<p>[QUOTE=&quot;mikem2000, post: 1644498, member: 30574&quot;]Yes,&nbsp; I think we have a lot of common ground.&nbsp; As you said we are living in bizarre economic times.&nbsp; I agree and as you said &quot;anythign can happen&quot;&nbsp; That is really my point.&nbsp; I don&#039;t know and you seem to admit you don&#039;t either.&nbsp; Very sensible approach.&nbsp; Since I really don&#039;t know, nor does anybody, it does not make sense to me to overweight in PM&#039;s</p><p>or in the case of a lot of stackers, make the big all or nothing bet in PM&#039;s.&nbsp; I mean really, what if they are wrong.&nbsp; IMHO the proper course of action is diversivication and not a religious like dedication to a single asset class</p><p><br /></p><p>Now, I am not going to quibble over whether the marginal cost of silver is $22 or $30.&nbsp; The fact is at $50 it was overvalued, and this was not some guess or specualtion.&nbsp; It is an accurate statement based on a fair economic definition of valuation.&nbsp; With that said there still was still no guarantee it would have gone down from $50, but a reputable Silver bull, at $50, really would have&nbsp; needed to ackknowedge this overvaluation and base his position on why he feel an overvalued asset would still appreciate.&nbsp; As you probably are aware of, this was not what happened, either on the street or the myriad of stackers on this forum.&nbsp; It was much more common to hear, SILVER is going to the moon and you are really stupid if you don&#039;t thinks so, because we are printing lots of money.&nbsp; Not really much of an agument</p><p><br /></p><p>Now of course Silver COULD have kept rising from $50, but IMHO the ODDS were good it would slide down.&nbsp; Of course I did not know, but I liked the ODDS, so I shorted.&nbsp; This was not an emotional decision becasue I &quot;hated silver&quot;, but a logical one based on my percieved odds.&nbsp; I have since covered the position with a nice tidy profit.</p><p><br /></p><p>Flash forward to now.&nbsp; Even at your marginal cost numbers, you cannot say Silver is an undervalued asset.&nbsp; You can call it fairly valued at best.&nbsp; I am still not liking Silver at this point since I feel there are other asset classed that are truely undevalued, so my portfolio will be weighted towards them.&nbsp; I will however keep some balance in my portfolio, since &quot; Hey I could be wrong&quot;&nbsp; I have a hard time finding logic in the mindset of most Stackers who&#039;s approach seems to be more along the lines.&nbsp; &quot; I am right, I am sure I am, Teb Butler told me so and you are stupid.&quot;</p><p><br /></p><p>I found that in life a little bit of arogance can help you in a lot of situations, it can help you get the good table at the restaurant, it can help you &quot;get the girl&quot;, but in the world of investing it will just get you broke.&nbsp; Diversify you investments.</p><p><br /></p><p>And one final word, even if you are totally convinced that the USD is destined to total destruction (I am not), never underestimate how long TPTB can kick this thing down the road.&nbsp; It just may not even happen in your life time, there are thousands of high powered, well funded, connection individuals who will be doing their best to make sure it doesn&#039;t happen.&nbsp; At least not on their watch</p><p>Mike[/QUOTE]</p><p><br /></p>

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