Mike Lathigee News
ICOA – A message from the desk of Mike Lathigee
August 9, 2020
0

Members,

The last week I have received more than the regular number of communications (from members) on what to do with respect to the huge run up in gold and silver prices. 

As members are well aware “I have been screaming at the top of my lungs” for the last year and especially in January when I provided guidance for members – to hold at least 10% of your total net worth in gold and silver – and consider bringing that up to 20% of your total net worth. I have gone into great detail, at many club meetings regarding the fundamentals of gold and silver and why there were compelling reasons for investors to ‘get positioned’.   Based on the communications I am getting – many of you listened – and congratulations!

Many of you are invested in gold and silver stocks and ETFs – which have doubled or tripled your money since January.   So, the common question is what do I do now?

It is never bad to take some profit.   The gold and silver market has moved up very quickly and this will be a trend that continues for the foreseeable future.   However, at this stage consider taking out your original capital and let “the house money ride”.  

We will see a consolidation period and then – buying again on the sell off is prudent.    

So my quick feedback to members is IT IS OK TO TAKE PROFITS NOW – AND YOU SHOULD TAKE PROFITS.  If you have doubled this position in your portfolio then sell half and sit in cash and wait for a consolidation period. 

CONGRATULATIONS TO ALL MEMBERS WHO FOLLOWED CLUB GUIDANCE AND TOOK ACTION STEPS!

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Mike Lathingee

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