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Hi Scott well I remember you got lots of negative/positive criticisms after your article last year, I’m happy to know you were absolutely right sensing the future market conditions, and also for those who follow your advice as well.
Now my question for you and other wise people on the board, what’s to do for young people like me (37) in order to protect our liquid asset? were to invest? Gold/property/?? it is not much but is all I’m counting for a happy future in CR with my large family.
I have never invest any money on the market mostly because of ignorance in this area but as time pass my worries grow regarding retirement/child education etc.
Thanks in advance to you all, this board is fantastic.
Rafael Ochoa
Your “ignorance” may have saved you a fortune 🙂
My ‘Protect Your Assets – The ‘Perfect Storm’ may be about to wipe them out…’ article which you can see at [ https://www.welovecostarica.com/members/1543.cfm ] was unfortunately right on the money and did indeed ruffle some feathers.
Your question is not an easy one to answer.
In ‘survival mode’ in Costa Rica you will need to have enough fertile land to feed your family in a quiet, private, easy to defend area with a good, year round source of fresh water.
Gold coins are hard to find here and I am assuming that when it comes to survival mode and buying survival items – food, rice, fuel – very, very few people will accept gold coins or US dollars but will insist on Costa Rica colones and other easily tradeable items….
I would suggest that owning additional property or land that you can rent out in an area like this would be a sensible investment.
Scott Oliver – Founder
WeLoveCostaRica.comWOW! “survival mode”? Land easy to defend”? Are we talking about a Mad Max world, a complete societal breakdown just because the economy goes into one of its cyclical down turns? If that happens, I don’t think it will matter whether you have dollars or colones. Neither will be any good no matter where you are.
There has never been a time in history when all trade and investment stopped for good. Yet. A human life time is about 75 years long and most of us will see or will have seen several major direction changes in the world economies before our time is up. If you truly believe this is the end of civilization, you better be doing more than just re-allocating your assets. Much more.
Edited on Sep 16, 2008 16:29
As mentioned, it was not an easy question to answer… But clearly there are a lot more serious problems in today’s world that Lehman, Merrill Lynch and AIG.
Scott Oliver – Founder
WeLoveCostaRica.comBottom? I think you need a real set of brass b**** to put money into this mess. I read today money market funds are falling below one dollar, how many of you out there knew that these accounts could actually go down?
I moved all my positions to cash in June. Not because I was fearful of the end of the world as we know it but because I simply stopped beliving in the “buy and hold” philosphy that people like Warren Buffet foist onto the public. Stocks are just paper or electronic data whose value is a product of faith. Once purchased, they only attain or lose real value when they are ACTED upon by selling them. The more you act upon stocks,the more value you can squeeze from them. I buy and hold stocks now for minutes or even seconds but never more than a day.
If today’s fall in the market means that we are on a terminal slide to oblivion, it won’t matter whether you are sitting on a pile of cash or a pile of stocks or even a pile of gold. At some point on the way down, only food, shelter and energy will have any value at all. So either we are OK and the market will contiue chugging along, or we are NOT OK, and anything you do now short of heading for the hills will be a waste of time.
Edited on Sep 17, 2008 17:40
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