The taxi driver test

[benjamen]

Interesting article on using the "taxi driver indicator" to judge if something is a bubble. I also find it interesting that, as a percent of investment portfolios, gold is still less than one percent!

http://wallstcheatsheet.com/investing/are-taxi-drivers-buying-gold-or-apple.html/

 

[ancona]

Thank you Benjamen. That was an interesting piece.

If you ask my 17 year old kid what she thinks, she would say the third of an ounce of gold. When asked, "Why"? She would most likely say that she could trade it for an SKS and a thousand rounds of ammo, that's why. ;-)

 

[Jetstream]

I can't do the test because I can't afford to take a taxi.

 

[ancona]

Here's a good test. Go to the hadji store that youy are the most comfortable talking to the proprieter, asdk him/her what their thoughts are on owning gold, storing food and owning guns.

 

[benjamen]

Here's a good test. Go to the hadji store that youy are the most comfortable talking to the proprieter, asdk him/her what their thoughts are on owning gold, storing food and owning guns.

Dumb question: What is a "hadji"


Back on topic:
For Easter, I went to my brother in laws's house. The conversation wandered onto the topic of investing and my wife mentioned my interest in precious metals. My brother in law said in an amazed voice, "You mean you actually buy the actual gold coin!" :rotflmbo:

This seems to be the usual sentiment for most people I meet. I would say 95% of the people I meet are squarely in the paper/stock market, 4% are investing in real estate, and 1% are interested in metals. How this is considered a bubble for metals... :shrug:

 

[KMS]

Hadji is a "derogatory" word to call a middle easterner. I learned it in Iraq. We called all of them Hadji's or Hajji, if you prefer. Believe it or not usually it was in reference to the "Hajji Stand" where they sold Cokes and other luxuries to soldiers just outside U.S. bases. Over night those guys would build a small market in what was the middle of no where, prior to the soldiers establishing a base there. They knew we had money to spend.

Never drink fluids from a plastic bottle that can be reused. Always get canned and clean the lid well. Then you are good to go.