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<p>[QUOTE=&quot;Morgan1878, post: 729147, member: 17869&quot;]I wasn&#039;t sure about gold 5 years ago when I started buying so I used a dollar cost averaging strategy which as many of you know is putting money into the market over a period of time to average out the highs and lows.</p><p><br /></p><p>As the picture became clearer as to the direction of precious metals, I increased the percentage of my portfolio from 5-8% where it now stands. This percentage was determined by following the advice of money managers much smarter than myself who have very successful long-term records.</p><p><br /></p><p>Although 8% in gold does not sound like a lot, it provided a very successful hedge (along with a short position) in 2008 and prevented serious damage to my portfolio. Gold has also accelerated the recovery of my portfolio to a point where all of the damage done in 2008 has been repaired.</p><p><br /></p><p>The main lesson I have learned from the really good money managers is that as a rule, they initially learn as much as they can, they listen well, they aren&#039;t cocky and because they know there are things beyond their control regardless of their excellent analytics, they never bet the farm on any one sector no matter how attractive it may appear.[/QUOTE]</p><p><br /></p>

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