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Silver Eagle Sales Set Record Pace

Posted April 23: Gold and silver futures finished mixed on Tuesday, with silver up a cent and gold off about 7 dollars to hit its lowest level since mid-February. Gold was said to have been spared a deeper drop by an upgrade of the ... Read More »


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Jim Cook

 

HOW SOME RICH PEOPLE GOT POOR
By James Cook

There is a tendency in all of us to believe that what is going to happen with our investments is what we want to have happen. If you wanted the tech bubble to continue in 2000 you had plenty of experts assuring you that it would. The author and CNBC guest James Glassmen said in October 1999, “What is dangerous is for Americans not to be in the market.” Larry Wachtel, a Prudential big shot suggested, “Most of these stocks are reasonably priced. There is no reason for them to correct violently.” Then the Nasdaq lost over 50%. Jim Cramer told us to buy Sun Microsystems at $60. It fell to $3.00. We can pull up hundreds of similar comments and advice. Suzie Orman; Larry Kudlow; Louis Rukeyser; Lou Dobbs; Marie Bartiroma; Abby Joseph Cohen; Alan Greenspan; they were all wet.

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