ancona
Praying Mantis
My LCS buddy told me this might be a good time to "liquidate" about 20 - 30% of my holdings because of what he thinks is going to be an enormous de-leveraging event just over the horizon. Ordinarily, I take financial advice with a grain of sand and a shot of scotch, but this guy is just way too smart to give this type of advice on a whim. He is neither taken to idle chat or known for giving bad advice. When he volunteers something to me, it is with forethought and as a friend. This advice was unsolicited, yet appreciated and I am seriously thinking about following it. His opinion is that we will see de-leveraging on par with 2008 on steroids, and that silver may be shoved [on paper anyway] back down below twenty, and quite possibly, as low as thirteen or fourteen. At the worst, I will limit my gain to 90% and silver will continue to rise. At the very, very worst, I will lose whatever premium I will be required to pay to repurchase what I sold if the prediction is wrong. Remember, this is from a guy who lives and dies by the market. Right now, he has buyers coming in with IRA money and 401-K money who are recently retired and want to see a bigger return on their savings, so he believes, perhaps rightly so, that when the paper mountain catches fire, it will be unstoppable.
Opinions??
Opinions??
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