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Message:: [QUOTE="medoraman, post: 1721369, member: 26302"]You can see the sky. You can orient your body to prove it has to be above you. To say the "fair value" of a good FOR EVERYONE is much higher than today's market price, but not having a clue of what its "fair value" is, to me sounds much more like an act of faith than an economic argument. Always remember the value TO YOU of any good is personal TO YOU. A market price is the sum total of all of these personal demand curves, intersecting with the sum total of all supply curves. So again, not having any idea of what these numbers are/should be/will be, yet blindly asserting its much lower than what it should be, to me is simply a religious statement. Not trying to insult you man, but that is how its coming across. I think every investor should have a basis of what price something is worth. Could be as simple as taking the value of silver in 1933 and indexing for inflation. That calc gives you a mid 20's price. In my mind, that is why I do not believe today's price is very far out of line, and why I am more likely to buy a little right now than I was 4 months ago. Whatever your methodology you choose is fine, and we can discuss pros and cons to that, but you should have some kind of number, and not blindly assert today's price is just way too low. Just my opinion. Like I said, no offense meant.[/QUOTE]