It’s Time to Go Fishing
Back in late 2007, the dollar index was heading for the cellar, gold was heading for the moon, war with Iran was imminent, energy costs were soaring and a debt crisis loomed. Given these multiple threats, many friends were asking many questions about where I was putting my investments. Frankly, people were pretty rattled.
I was able to go off fishing because I my long-term investment strategy, including investing in precious metals, precious metals mining stocks, energy stocks, defense stocks and a few select foreign Exchange Traded Funds (ETFs) has paid off over the years. In my view, it is more important to be invested in the correct sector than in an individual investment within that sector. So long as the sector is promising, diversification within that sector should spread both risk and opportunity. Knowing that whether my investments were up or down during the week I was away, they were likely to trend up over time made it much easier to relax and make some great memories with my wife and our friends.
Remember to live your life well with family and friends. Then you will truly be wealthy beyond measure.
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