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Patrick Gillan's Blog

By Voices Member | in

Roller coaster stocks.... and what's the deal with gold?

    Gold is at record highs right now, but why?  I know it is historically accepted as universal currency, but I hope you don't run out and buy gold at $1700/oz.  This is actually an incredible opportunity to buy real estate.  Prices are arguably at near-bottom prices, and money is still ridiculously cheap to borrow.  Yes, you have to be a qualified borrower, and make a higher downpayment than pre-crash days.
    Two of my favorite quotes come from Warren Buffet, and I might not have them verbatum, but the first goes something like this: "You don't know when we've hit the bottom of the market until it starts going up, and then it's too late"  He also said, and I think this is pretty close, "Be brave when others are scared, and be scared when the others are brave."

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