A Reckoner From Brisbane
And a note from a reader:
Hi! Guys
I have been reading your missives and other related sites for several years now. I tend to agree that like you we should all be flying the crash alert flag at full mast!
Personally I sold up my house (2002) and am currently renting a Brisbane inner city apartment. Based on what the current owner thinks his place is worth I reckon he is getting around a 2% return. However; that's his problem.
As long as the barbarous relic I now hold instead of my home beats the 2% plus around the 10% for inflation I may emerge from the future crash standing on two feet!
I notice that you guys often suggest holding, gold and gold shares. I don't know what happened in the USA back in 1987, however, if one of your news hounds cares to do a little research you will find that back in those dark stomach churning days the price of gold actually went up.
Have a look at how the down draft hit not only the general market but clobbered the gold miners in Australia also!
I know many people are looking for gold shares to enjoy a multiple rise with the inevitable rise of the gold price.
Perhaps they will see this; however, maybe this is a good time for us all to remember that this is a safety and survival issue first and foremost!!!
Very best regards:
A DR Reader in Brisbane
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The Daily Reckoning offers an independent and critical perspective on the Australian and global investment markets. Slightly offbeat and far from institutional, The Daily Reckoning delivers you straight-forward, humorous, and useful investment insights from a world wide network of analysts, contrarians, and successful investors. Founded in 1999, The Daily Reckoning is published in 7 countries with a worldwide readership of almost 1 million people.
Comment by A DR Reader in Auckland on 16 September 2007:
In the comment by "A DR Reader in Brisbane" quote as follows; "Have a look at how the down draft hit not only the general market but clobbered the gold miners in Australia also!" - does this interpret to read that gold mining shares in Australia took a pounding along with all other shares during that "1987" period?