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Can Reddit's Silver "Apes" Beat The Market?

hchcoinhchcoin Posts: 4,829 ✭✭✭✭✭
in Precious Metals

Fun article to start the day on Yahoo Finance:

https://finance.yahoo.com/news/reddits-silver-apes-beat-market-070345030.html

Comments

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,283 ✭✭✭✭✭

    They've shorted me and the wait times for filling orders is about six to eight weeks for certain products.

  • derrybderryb Posts: 36,779 ✭✭✭✭✭

    Well, silver demand and silver premiums on physical products have risen sharply since the Apes went on the war path. Is it because of them? Likely so.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,283 ✭✭✭✭✭

    I agree DerryB. They are brazen , candid, and vocal about what they're doing. They say it right to my face. They're not hiding. And they ran me out twice this year. I don't see it stopping for those who stack. Gets in the blood.

    And anyone who has ever kept metal as part of their portfolio usually just juggles some now and again.

  • derrybderryb Posts: 36,779 ✭✭✭✭✭
    edited July 9, 2021 4:14PM

    metal is not a good investment for a portfolio these days. It is an excellent insurance policy against the tomfoolery that is making less sound assets better investments.

    While the Apes can increase demand for physical they cannot beat the bullion banks when it comes to paper. Paper sets the base price and will continue to do so. The bullion banks can simply outsmart and outfund them.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • blitzdudeblitzdude Posts: 5,886 ✭✭✭✭✭

    The most entertaining part is going to be watching the Apes being offered spot by the LCS for the stuff they just paid 50% premiums on. Some will probably hold out a few decades so they can attempt to break even. lol

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,283 ✭✭✭✭✭
    edited July 9, 2021 6:27PM

    @blitzdude said:
    The most entertaining part is going to be watching the Apes being offered spot by the LCS for the stuff they just paid 50% premiums on. Some will probably hold out a few decades so they can attempt to break even. lol

    I've held out for nearly two generations. Sink and/or swim.

    Never dreamt I'd be on the other side of the counter agreeing ( but I am paying that premium to get it too. ). Business , ad nauseum.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    This is interesting to watch. Such things have been attempted before... I am holding, all my metals are pure profit now. Cheers, RickO

  • DrBusterDrBuster Posts: 5,378 ✭✭✭✭✭

    Don't forget, a lot of the reddit apes are not in the US. Premiums/vat/currency valuation are all in play for those folks - spot price be damned.

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