I’ve received nearly a hundred emails over the last two days from people worried about the correction going on in gold and silver right now. Silver prices have tanked nearly 30%, and gold prices have dropped several hundred dollars.
Remember, I’ve predicted several times in the last few months that gold was going up way too fast — I love gold, but going up several hundred dollars per ounce in a month or two is just unsustainable. Read what I said here as well as here. If you understand economics and stay objective, you’ll see these corrections from a mile away.
Perhaps the simplest explanation of what I’m doing is: the same thing I was doing last month, the month before, and the month before that. We’ve been here dozens of times, folks, and the best strategy is one that doesn’t require you to change everything because prices take a dive. Markets are complicated — but a good investment strategy for most people should be simple.
Keep Buying Gold and Silver
Emotionally speaking, we’re wired to want to dump an asset when it dips and buy it when it’s going up. Ironically, this leads to most people getting absolutely destroyed by the market. My strategy is simple and timeless. I’m writing an entire course on it that I’ll be emailing subscribers about in a week or two — it’ll explain how to invest in gold during bull markets, bear markets, sideways markets, and every other kind of market.
Good strategy ignores the season, timing, and everything else — good strategy works always. It let’s you sleep well at night, turn off the news, and live your life. Stay tuned for the course.
It’s All About Consistency
Don’t save up money to buy gold or silver all at once — buy it gradually. This cuts the volatility and is just generally less risky. The best way to buy gold and silver gradually over time is through Silver Saver. They do both gold and silver, and automate the process of buying physical bullion every week or month. It’s an amazing idea — I wish I’d thought of it first.
It’s All About Diversity
Remember, gold stays flat over time. We’re in a bull market, but over time, the value of gold goes up just slightly. This is very, very good — we should make gold the official money of our government again. But if this is your only investment asset, you’ll get destroyed over time.
This is a huge market opportunity. If you like stocks, real estate, gold, silver, oil, or pretty much anything, then they’re all on sale. Don’t just buy gold — buy enough of every cheap asset. Stay balanced and don’t be afraid to re-balance. I recently bought some Philip Morris International, and will probably be buying some more soon.
It’s All About Nerves of Steel
Most people lose money investing because they chicken out. On the bright side, this means if you’re able to control your emotions, you can make a killing. I’m not a fan of Warren Buffett, but he did say something that was brilliant: “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”
Could This Be the End of Gold?
If you didn’t think so last week, and nothing has changed, then you shouldn’t think so now. That said, the best time to buy gold was 15 years ago. The second best time is always now — always, always. Same for stocks. Same for land. Same for a good business.
Investment advisers can’t stand the investment beliefs I have, because it basically makes their life more difficult. Their job is to get you worried so you’ll pay them money to hear someone who barely is in the middle class after decades of being an “expert” tell you what to do. I’m in partial retirement, and I’m not yet 30. Good strategy wins. Always. This is an important philosophical concept, and it’s why so many people can’t make money — they just go with the stream, rather than against the stream.
Over the next few weeks, I’ll be letting you know about a course I’m almost finished with. It’ll explain everything you’ll need to know about investing in gold for the long haul. It’s explained so simply, you’ll wonder why you hadn’t thought of it yourself. And more importantly, it’s a strategy that has worked over the last 30 years — not just during “bull markets”. Learn more by signing up for our free newsletter.
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