The Gold Collapse Is Personally Costing Ron Paul A Fortune

[xchrom]

http://www.businessinsider.com/ron-paul-investment-gold-2013-4

A few weeks ago, we figured out what was happening to the Ron Paul portfolio — the former Texas congressman's 64% investment in gold and other rocks — and it wasn't pretty.

His portfolio is comprised of major miners and a handful of juniors, and displays a marked lack of diversification.

Investment manager William Bernstein told the Wall Street Journal that “This portfolio is a half-step away from a cellar-full of canned goods and nine-millimeter rounds.”

Newmont Mining Company: –37.29%
Goldcorp Holdings: –34.64%
Barrick Gold: –48.17%
Agnico Eagle Mines : –35.78%
Allied Nevada Gold Corp: –68.48%
Alumina Common: +6.32%
Anglo Gold Ashanti Ltd. –44.13%
BrigusGold Corp. Com MPV: –39.18%
Claude Resources Inc: –56.39%
Coeur D'Alene Mines Corp: –47.21%
Hecla Mining Co: –47.74%
El Dorado Gold Corp: Not Listed
IAM Gold Corp: –65.40%
Kinross: – 44.11%
Lexam Explorations Inc: – 57.57%


***may he know from being destitute.

Read more: http://www.businessinsider.com/ron-paul-investment-gold-2013-4#ixzz2Qd8pPZas

[hobbit709]

1. Ain't that just too bad!

[adigal]

2. It's still very high

It's at $1395 an ounce. Not bad considering where it was a while back.

[dawg]

3. Gold is the ultimate fiat currency.

It's just a pretty yellow metal with *some* uses, but not all that many due to it's softness. The only reason it has the extreme value it does, is that people choose to invest it with that value as a means of exchange. As people's perceptions of that value change, so does the value of gold. It fluctuates, just like those hated fiat dollars.

[dembotoz]

4. good

[srican69]

5. the gold saga shows that speculators have the sadim touch

Gold was a low volatile ie low risk investment that was illiquid. ...until speculators got in to the act...the have tons of money and they'll stop at nothing till they have bankrupted everyone

They always claim that they make an asset more liquid this serving the market...It's time someone call their bluff...all they do is create bubbles where none could exist...and ordinary folks who buy into the hype are left holding the Shit bag...


Disclaimer..the only gold I have is the jewelry I bought for my wife..so nothing personal here

[Arkana]

6. Couldn't happen to a nicer guy.

[slackmaster]

7. Thanks for posting a list of potential "buy" opportunities for people who have a reserve of cash

[cbdo2007]

8. Only costs him a fortune if he sells.

Also, we don't know what price he bought in at.

[Lawlbringer]

9. came in to post this

As much as I want to laugh at gold hoarding, he probably bought it before the discovery of the new world. So at this point, anything is a significant increase. Just not as much of an increase as it was before all of this.

[samsingh]

10. gold was like $500 an ounce before bush's insane actions around the world

so I would think it's still overvalued. but who knows

[arcane1]

11. I never understood why gold would be so supposedly valuable if society collapses

It's useless. Hell, aluminum foil would be more valuable, because you can actually use it!

[ProgressiveProfessor]

12. Presumptively a paper loss at this point.

[Yavin4]

13. All Assets Go Up and Down

Pick any year or time period, and I can also say that asset x was a bad investment. If this was Feb. 2009, we'd all be saying the same thing about stocks.

[NewJeffCT]

14. Unlike seniors and others duped by Glenn Beck

and similar shysters promoting gold, Paul can afford to hold on to the gold until he either recovers his losses, or else suck it up and take the loss of part of his investment.

If he was worth $10 million before this "collapse" of gold, he's worth what, $8 million now? That's still $8 million. And, he can take the $2 million loss off of his income taxes.

If Ma Kettle invests $1000 of her social security money in gold and it drops to be worth $800, she's a lot more hurt a lot more overall than Paul.

I'm guessing that Paul has had a lot of his gold since before St. Ronnie became president - when gold was $200 something/ounce instead of whatever it is now.

[catbyte]

15. Shall we take up a collection or open a PayPal account to donate?