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<p>[QUOTE=&quot;ikandiggit, post: 943753, member: 16269&quot;]Knowing when to buy and when to sell is what investing is all about. Simple?</p><p><br /></p><p>Take a look at this chart.</p><p><br /></p><p><a href="http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx" rel="nofollow">http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx</a></p><p><br /></p><p>If you were around during the gold boom in the early 80&#039;s and got caught up in the hype and purchased gold at around $800 ounce, you would think that in 10 or twenty years that the price might double or triple. So you sit on it. Now take a look at the 10 and 20 year mark. Your initial investment would have been reduced by half. There is no guarantee and nobody can predict the future. </p><p><br /></p><p>The only way not to lose your shirt is to diversify. </p><p><br /></p><p>A mentor told me that 40 years ago. I watched him lose his business (a chain of camera stores) almost overnight but it didn&#039;t affect him because he had other investments and interests that kept him afloat and he was able to rebound without missing a beat.</p><p><br /></p><p>Consider long and hard where you&#039;re going to put your money. You&#039;re intelligent enough to be thinking about it at your young age. A lot of people wait too long. Spend time studying and and talk (and listen) to successful people. They&#039;ll be more than happy to guide you.</p><p><br /></p><p>Good luck.[/QUOTE]</p><p><br /></p>

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