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Monday, January 26, 2009
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Blog Archive
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2009
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January
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- Revealed: Day the banks were just three hours from...
- Jim Rogers on the Asian Financial Forum 1/21/2009
- NY Times: Firms That Got Bailout Money Keep Lobbying
- Where's the Deflation now?
- Bank Of America Bailout and Weaker Dollar
- Do the banks really need more money?
- Citigroup to sell Smith Barney to Morgan Stanley?
- The Job Market
- Jim Rogers Outlook for 2009 and How to get into Ag...
- Peter Schiff on our History and outlook for 2009
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January
(10)
About Me
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I am a 21 year old full time undergraduate college student majoring in Business and Accounting. I've made some pretty unlucky investment decisions in the past year trading on earnings reports and trying to double my money within days. However, I was correct on my longer term view of the economy and stock market by expecting a financial meltdown as early as October 2007. The United States economy is built up on credit and right now it is being unwound. One of the trades which I most regret was investing in the Japanese Yen and double inverse stock index by using ETFs in November 2007 such as the QID, SDS, TWM, FXY, and FXP but because of high leverage I was forced to sell them because of margin calls. If I had stuck to my longer term views, it would've made a very profitable trade. My family and friends doubted me last year but now have learned to listen to my advice wisely and seriously.
I am a 21 year old full time undergraduate college student majoring in Business and Accounting. I've made some pretty unlucky investment decisions in the past year trading on earnings reports and trying to double my money within days. However, I was correct on my longer term view of the economy and stock market by expecting a financial meltdown as early as October 2007. The United States economy is built up on credit and right now it is being unwound. One of the trades which I most regret was investing in the Japanese Yen and double inverse stock index by using ETFs in November 2007 such as the QID, SDS, TWM, FXY, and FXP but because of high leverage I was forced to sell them because of margin calls. If I had stuck to my longer term views, it would've made a very profitable trade. My family and friends doubted me last year but now have learned to listen to my advice wisely and seriously.
Current Holdings
JPM Sep 2009 20.00 put (JSAUD.X): JP Morgan Chase & Co. Put Option
UltraShort Real Estate (SRS)
PHYSICAL Silver Metal
PHYSICAL Gold Metal
If you must buy an ETF for gold or silver, take a look at CEF: Central Fund Of Canada or GTU: Central GoldTrust. Their holdings primarily consist physical bullion and are audited frequently.
With the exception of CEF and GTU, DO NOT buy the other ETFs for gold or silver. They are vehicles used by the central banks to keep the price of gold and silver down. They do this by shorting bullion that isn't physically held by the fund.
UltraShort Real Estate (SRS)
PHYSICAL Silver Metal
PHYSICAL Gold Metal
If you must buy an ETF for gold or silver, take a look at CEF: Central Fund Of Canada or GTU: Central GoldTrust. Their holdings primarily consist physical bullion and are audited frequently.
With the exception of CEF and GTU, DO NOT buy the other ETFs for gold or silver. They are vehicles used by the central banks to keep the price of gold and silver down. They do this by shorting bullion that isn't physically held by the fund.
Notable Blog Posts and Recommended Reading
4/7/09 - JP Morgan Chase with $87 in derivatives
2/17/09 - Faces of the people who brought you THE financial crisis
3/21/09 - Hedging against inflation by investing in gold and silver
***HIGHLY RECOMMENDED*** - Risks of Leveraged ETFs
11/24/08 - Citigroup bailed out for $20 billion, U.S. Government to Insure up to $306 billion in loans
2/17/09 - Faces of the people who brought you THE financial crisis
3/21/09 - Hedging against inflation by investing in gold and silver
***HIGHLY RECOMMENDED*** - Risks of Leveraged ETFs
11/24/08 - Citigroup bailed out for $20 billion, U.S. Government to Insure up to $306 billion in loans
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Disclaimer
I am not responsible for any actions that you take as a result of this blog. I am not a financial advisor or affiliated with any FINRA broker or dealer. Please note that this blog is for educational purposes only and that investment actions should be based upon your own research. You agree to hold the author of this blog free from all responsibility as a result of investment actions taken.
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