I’m getting old. Lately, I’ve been thinking... instead of so much messing around with portfolio, pick long term assets like Gold, Silver, bitcoin, then just take care of your health for long life. Eat right (not the food pyramid), rest, fast, exercise, minimize stresses. Time is much more valuable than anything else
"You need to buy something not when the price action is justifying the narrative, but rather when everybody is either bored of something or hates something." - Brilliant
David, since you mentioned you read the comments, I'll write one just for you. I appreciate your interview style. You're very good at your job. Thanks for keeping your guests on track. You ask the exact questions that I came to this channel for. I appreciate it. (Also, some great tips from Rick! I find his advice interesting and helpful.)
Fascinating interview. Very insightful and informative. I'm encouraged to see a demographic shift in the typical PM investor. The more people from different backgrounds we have the better.
If you want to be successful have the mindset of the rich spend less and invest more don't give up your dreams, I pray that whoever likes and reads this will be successful.
Investment is the quickest path to financial freedom, the rich stays rich by spending like the poor yet Investing while the poor stays poor by spending like the rich yet not investing.
You are completely right! He also said, “put all your eggs in one basket and watch it very, very, very closely. If you have done your complete due diligence and you are 100% convinced of your conviction of your investment, you should not be afraid. Diversification just for diversification’s sake is a path straight to the poor house.”
@@ohm7876, you don’t have to agree. Rogers is making a point. Diversification alone is not a path to success. In his experience, one or two carefully crafted and researched “great investments” was a path for him. Another point of view. How many investors do you know who continue to have mediocre returns just by following the “mainstream?”
@@jameskikuoka4863 He borrowed it from Andrew Carnegie, which is just as excellent: “Don’t put all your eggs in one basket” is all wrong. I tell you “put all your eggs in one basket, and then watch that basket.” Look round you and take notice; men who do that do not often fail. It is easy to watch and carry the one basket. It is trying to carry too many baskets that breaks most eggs in this country. He who carries three baskets must put one on his head, which is apt to tumble and trip him up. One fault of the American business man is lack of concentration.
Rick is the best. The one person who gives balanced, nuanced, and sensible advice. Many other commentators and investment bloggers seem to be on their hobby horse.
Rick Rule (paraphrased): If the stock price doubles in six months but no fundamentals have changed, the stock is arithmetically half as attractive as it used to be. AirBnB: Uh oh. You rock, Rick!
Start with $100 and go up 10%, you have $110; then down 10% and you have $99. Or, if you start with $100 and go down 10% you have $90; then, up 10% and you have $99. Be prepared for big down swings, as those hurt you more.
Im not a gold person. But I’m very impressed by Rick. Have watched many vids with him on YT and Real Vision. Level headed. Humble. Very smart. Generous with his thoughts. Etc.
@@tham1801 I think this is the only one he’s missed in the last few years. He’s doing a killer job at putting out information and helping people preserve wealth. I enjoy his stuff too!
@rickrule GREAT video third time listening through and won't be the last! One question to clarify something. You stated that a person should spend one hour per month researching a company for each stock owned. Is that one hour per share owned in a company, say I own 20 shares of xyz stock I'd need to spend 20 hours researching that company, or one hour total? Also do you correlate the research time with the price of the stock in anyway?
He's a perma-bull, so much of what he says is mere positive reinforcement for retail gold bugs. I liked what he said about culling stocks and staying with winners. He's a bit light on how to go about doing that, though.
Boring. My third point is. Different topic,My fourth point would be.I’m glad this interview is short. I would rather get a root canal,than listen to this guy for two hours.
He said buy when nobody wants it and it's undervalued, sell when opposite, harder than you think to do, buy when something is sitting going nowhere, you naturally want to buy when it's on fire and everyone wants it.
This guy is too smart for me. Break it down for the common man. Buy gold? Yes or no? Buy gold stocks? Yes or no? Silver? Stocks? I don’t want to know about stocks. I come to Kitco for gold and silver advice.
His suit analogy was assuming you wanted to buy another suit. You would be pissed if you bought a suit for $100 and you liked it so much that you went back to buy the same suit again but it was now twice the price. Conversely, you would be delighted if the same suit that you already love was on sale for half off. He’s saying that a stock with great fundamentals should be more attractive when it’s super cheap and nobody is looking at it. That’s when you buy it cheap and hold.
This old bald grumpy white guy is charismatic AF. And in 5mins, he pretty much outlines everything one needs to understand about successful investing. Can’t wait for part 2.
If you believe gold is going to the moon and your willing to wait a few years then it won't matter what stock you have invested in as they will all be going through the roof. If you are looking at it short term, say under a year or two, then good luck.
Rick, did you get your suit illustration backwards? If I bought a suit for half the price a few months ago that it is now, I would be delighted not furious!
@@alexpinder2580 Then Rick should not have said "the suit that you paid for six months ago" but rather should have said, "that you thought about buying 6 months ago doubled in price, you would be furious." He was making the analogy that people do not buy the stock when it is low but wait until it is double (or hot) before they buy, not about someone who bought it early before it went up.
@@ADKfreemanare you hearing me? I would be fine with a call offering their services but they did NOTHING of what they were claiming on their end. No stock raking, no charts, etc...
Rick rule and JR from MMED on the same day .... let me ask you , why does a precious metals / commodities channel gives time to mmed ? Be a contrarien, get into metals and in psych as weel ;)
KITCO news: The female species are entering the speculative precious metals space Single gold bugs: Fans out plume of 10-bagger** stock certificates and struts about like a peacock **Disclaimer: Potential 10-baggers and paper gains.
This is really bad advice, never trust a gold bug's advice on the stock market. Stocks are a long game...period. Warren Buffet made his fortune simply by holding big name stocks that takes no brains to pick and then just sitting on it and letting compounding interest work its magic. There is no way that any amateur investor can play stocks in the short term and win, especially day trading which has been made obsolete by HFT bots. And there is no way you can beat the hedge funds on swing trades no matter how many hours you put into studying stocks. Rick is a no talent hack, anyone watching this past the 6:30 minute mark is a sucker.
Not true at all. If you are so knowledgeable, where is your “private family office” worth 100 MILLION?Yes, there are plenty of them out there and they are not a”hedge fund.” Rick made his money fair and square. How about you? And yes, I have accounts in two different hemispheres of the world, on opposite sides of the world. I am retired physician who retired at 50 because of investing. And YES I AM A GOLDBUG.
@@jameskikuoka4863 Im 55, I was put into forced retirement for some sad strange reasons that I wont get into, soo its late in life for me to get into the money game. But if youre into the 'you should listen to me because Im rich' camp of thought then you should watch Bloomberg or Fox Business News, there are plenty of those types there.
@@jameskikuoka4863 fuck off, dont comment on my comments if dont like what I have to say. Your opinion means nothing, its obvious youre an idiot, dont waste my time.
Blah blah blah. Why bother to air this he says absolutely nothing new. Nor original or insightful. Seriously. And his smugness is tiresome. Far more entertaining and informative would be an interview with Chris Temple.
Exactly right. There are a lot of goofy people who have made a lot of money. I’m not saying he’s dumb, but he is goofy. If I met him at a party I would go to the other side of the room
