Reply #16: I'd listen to those who seem to know what they're doing and have experience

[DFW]

I have been led astray by "solid" investment houses, and done
well with my own instinct. One of the biggest ironies of the last
few years was the Tom Noe "Coingate" in Ohio. He started investing
in rare coins in 1998, and if he had stuck to just that, and picked
the right rare coins, he would have tripled the money of the people
that had trusted him, and been a hero instead of sitting in jail--
possibly singlehandedly changing the course of history, since Ohio
was such an important State for us in 2006. I know something about coins,
and bought a piece for $1,600 when I was in college in 1973 that I was sure
had a long term future. I sold it in 2004 for $150,000 and traded it
for gold coins (tax-free as a like-kind trade: you pay the tax on the
gain when you sell), as I didn't like the medium term prospects of the
dollar. Sure enough, the dollar went straight to hell, and gold nearly
doubled. But once something like gold doubles, it's a long shot it will
double again. I liked my odds 3 years ago, not so now.

I know little about stocks except that Apple has done well recently, and
Warren Buffet's Berkshire Hathaway has remained solid. Anything over that,
you had better listen to people who know way more than I do about stocks.
Rare coins can be very rewarding, but are more risky, and are ONLY for those
who know what they're doing. Do NOT go to some coin "adviser" who will steer
you to the "right" coins, which he just happens to have laying around.

As for gold and oil, well people will always need oil for the forseeable
future, but it's a gamble because no one REALLY knows how much there is left,
or what new fields may yet be discovered. Gold is a traditional inflation hedge,
bad news in a recession (though liquid), and while nice and shiny to hold in
your hand, it pays no interest, you can't eat it, it won't make your car run
or heat your house, so remember that if you consider it.