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<p>[QUOTE=&quot;-jeffB, post: 8388810, member: 27832&quot;]Hmm. I think I&#039;ll agree to disagree here. PMs <i>do</i> IN GENERAL keep up with inflation, in the sense that inflation is <i>defined</i> as a decrease in the value of a currency measured against <i>everything else in aggregate</i>. If you&#039;re saying that PMs don&#039;t keep up with inflation, you&#039;re saying that they eventually lose value against all the other things on which we spend money. <i>In general</i>, I don&#039;t think that&#039;s true, although they can stay high or low longer than any one person&#039;s time horizon.</p><p><br /></p><p>Apple stock (or just about any other equity) is an <i>investment</i>, where people expect it to produce returns above and beyond inflation. Of course, it can also be a vehicle for <i>speculation</i>, and I suspect its value right now is still somewhat inflated by speculators (even though it&#039;s down something like 30% from its all-time high). All the same, I&#039;m not selling it; I think there will be more speculators coming along way ahead of my investment horizon.[/QUOTE]</p><p><br /></p>

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