HELPING PHYSICIANS ATTAIN FINANCIAL SECURITY
By Robert M. Doroghazi, M.D., F.A.C.C.
Silver blew to its highest level in 30 years today (see chart of SLV, below).
In a precious metal’s bull market, the miners usually lead bullion and silver usually leads gold. I note the miners are lagging bullion, but a new high is a new high. The most likely course is that silver will pull gold and the miners up with it.
Note also that the oil stocks I mentioned in a recent note: OIH (an ETF for the oil service companies), NOV (National Oilwell Varco), SLB (Schlumberger), COP (ConocoPhillips), and CVX (Chevron) made new highs or are right at their highs. The DJIA and S&P 500 made new highs today.
I believe the market, lead by the precious metals and the natural resource stocks, is being pushed up by all of the money being printed by our government. People are trading paper money for real assets. They are concerned about inflation.
I again recommend the core position in your investment portfolio be physical gold (and some silver) in your personal possession.
RMD
I am in Santa Fe, NM, at a medical meeting. This afternoon I went to the Georgia O’Keefe Museum. It reminded me of two points.
1) I am on the Board of the Museum of Art and Archaeology at the Univ. of Missouri, and thus a member of the Museum Associates. This provides reciprocity with many other museums in North America. I was able to get into the O’Keefe for free (saved $10) and received 10% off my purchases at the Museum store (saved another $15).
Many clubs also offer reciprocity. Because I am a member of the University Club at the Reynolds Center, I can stay at the Quadrangle Club at the University of Chicago or the Missouri Athletic Club in downtown St Louis (to name just a few). Many country clubs offer reciprocity.
Reciprocity can be a real perk; don’t overlook it.
2) The typical art gallery marks up an artist’s work 100%. In glitzy destinations, like Maui and New York, the markup is 150-200%. What reminded me of this are the blocks of art galleries around the plaza here in Santa Fe. I don’t know if their markup is that high, but my point is: Don’t buy art on vacation.
This is also a chance to remind you not to buy art at charity auctions. You can only deduct the amount above the stated value. Ex: you buy a painting you really never wanted in the first place for $2K. Stated value:$3K. Sorry Charlie, no deduction. If you want to help the charity, just give then cash. I assure you they will be happy and you can deduct the entire amount.
Site by Delta Systems powered by ExpressionEngine