Not from me. From somebody waaaayyyy smarter.
Let’s go.
Still Cheap
I’ve mentioned on my 10-Minute Contrarian Podcast how I like to buy things when they’re dirt cheap.
With a lot of my gold and silver miner stocks, I did just that.
Some of you may think the opportunity has passed you by.
It hasn’t.
For example I did NOT buy Bitcoin “cheaply” at the time, at least I didn’t feel like I did because I could have bought it way cheaper years ago.
But I did it anyway because I thought it was still super cheap relatively speaking.
This was when Bitcoin was around $8600 a coin. Proof here.
I realized you can’t always get bargain basement prices all the time. Sometimes the best investments are multiples of what you saw them in the past.
An example of this, I moved over into SUI at around 88 cents.
I remember being interested in it at 20 cents. Very interested actually. But I bought something else instead, I don’t remember.
So almost a 4 and a half x from where I almost pulled the trigger. Imagine the pain of buying it at 88.
Sui currently sits at $3.87 four and a half months later. A 4.4x gain in as many months.
Funny how that pain went away super quick.
I have this conversation with old friends who are asking me about Bitcoin and if it’s too expensive to buy at 100K. They don’t want to feel dumb buying at the top. They won’t say it out loud, but this feeling is their biggest concern, and likely yours too if you’re being honest.
I told them if they were to buy now, and next month it was at 120K, would they feel stupid, or overjoyed at the 20% gain they could show their wives?
You get the idea I’m sure.
Here is the silver price via the SLV ETF on a monthly chart.
By comparison, here is the main silver miners ETF, ticker symbol SIL…
Sooooo much unrealized upside here. And this will likely be the slowest mover of them all.
Cheeeeeaaaaap
I put out my Gold and Silver Predictions podcast episode two weeks ago, and had a bonus section on silver, because it’s incredibly exciting right now.
As mentioned on the pod, I was asked two years ago what my 2, 5, and 10 year best bets were as far as investments go. I said:
2 yr – BTC
5 yr – Silver
10 yr – Copper
BTC was a giant win. Now we’re in the silver era.
(For the record, I am not selling my BTC)
The cheapest silver is in the ground. People are frustrated how it hasn’t multiplied the way it probably should have by now, but when silver does make it’s grand move, it would have to defy all of math and history not to explode to the upside.
“But what if it doesn’t??”
The chances are super slim IMO. But even if it does, worst case scenario you’ll still make money if the price of silver goes up.
But What To Buy?
I get it, there are a lot of things standing in an asymmetrical investor’s way when it comes to silver miners.
Lack of knowledge, and the amount of time it takes to get good at choosing the right companies is the big one. And there’s a lot of risk when choosing the wrong one.
Problem solved.
One of the absolute best in the industry, Don Durrett, whose service at $199/yr is still the best bang for the buck in town, just gave away all of his top picks.
He even ranked them all, and went over each one of them.
Enjoy.
And as a bonus, here are his gold mining picks.
(Great time to buy these as well, but I’m all in personally, so I follow the space less than I used to)
You’re very welcome.
Combine this with your monthly chart. Some of these look like they’re turning over to the downside, making them even cheaper. But if you were to FOMO in to some of them from where price is now, I wouldn’t blame you. You can always DCA down if you were wrong.
This is what I have done, and I certainly don’t regret it.
But I also don’t regret sitting on my timid ass waiting for the price of BTC to drop before I bought it. Sooo glad I didn’t do that.
I could have turned into a salty no-coiner. Shudder to think.
— VP
None of this is official investing advice. I am not licensed to give it. Own your own results, good or bad, like a grown-up.