Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
Second Chance: How to Make and Keep Big Money from the Coming Gold and Silver Shock-Wave Paperback – October 25, 2016
Frequently bought together
Customers who bought this item also bought
About the Author
David H. Smith is Senior Analyst for The Morgan Report. He speaks at conferences and writes about mining and exploration properties - often video logging them for Premium Website Members at themorganreport.com
Top customer reviews
I didn't find any specific advice or something that made me feel like I have a light bulb above my head. However, the authors do make the very important point of having an exit plan (which is important regardless of what investment you made), weighing your gains and how much is enough. There are also some insights, that I was ignorant of, of how to measure a mining company potential success and health.
The book’s title pointed out my first serious error...Second Chance: How to make and keep big money from The Coming Gold and Silver Shock-Wave. I had made big money in the wild ride of the 1970s bull market. Like so many, I gave it all back during the 1980s (the amateur’s’ mistake). I did better during the 2000s. This experience proved that any fool can learn from his own mistakes! Dear reader, it doesn’t have to be this painful for you. Secondly, you may not have long to wait for the third major leg in the bull market for precious metals.
From establishing a base position in physical metals and a core stock portfolio, to proper portfolio position sizing, to riding the wave(s) to riches - it's all laid out so plainly that even this Boomer can understand it. Most importantly, the two Davids will have your back when you consider selling and moving on to other more important things. Their personal philosophy of wanting to help people lead better and more fruitful lives comes through again and again. Once you're doing well with a good-sized investment account, you will automatically be in a position to do good by helping others.
I recommend Second Chance as an excellent primer for new investors, that also updates and reminds seasoned investors of many salient points, especially those who "already know that". Chapter Four introduces the OODA decision loop. How to intelligently gather information, -process it - then act decisively. Once you've bought and read this book, you also will have acquired two friends as guides!
David Smith and David Morgan have really done their homework on how we got to where we are, where we're headed and what the "end game" may look like. But Second Chance is so much more than just about making money. The authors force the reader to look deeply at themselves before they get around to building an investment portfolio. And their OODA Loop decision-making process is one of the most compelling ideas I've run across.
Follow this four step procedure, and the odds are very good that you'll end up on the right side of the investment battlefield. But you must understand yourself first! As the great Chinese master of strategy, Sun Tzu said centuries ago, "Understand yourself and your opponent and you will be victorious in one hundred battles; Understand only yourself, and the odds are even; Understand neither and there is great danger in one hundred battles."
Unfortunately, investors who do not run across this book, or who fail to apply the wisdom inside its pages, will find by default that there truly is "great danger in one hundred (financial) battles."
I have a feeling it's not just the Baby Boomers, who are worried about how much of their retirement pensions, let alone Social Security payments are going to be there for them in the future. It's the Millennials too. Second Chance empowers investors of all age groups who are willing to read the "back story" about this kind of approach, and then carry out a sensible plan. There's no need to go "all in". Rather just use a portion of your assets to reach for outsized gains while taking a calculated risk. Then be sure not to overstay your welcome some years down the line when the bull market ahead turns into a long-term bear. In life and in investing, everybody deserves a Second Chance - don't let yours pass you by!
David and David have written a book that talks about the past and what investors need to do to profit in silver and gold but the most important thing they have to say is to take a profit. It seems to me the world's financial system is on the very edge of a cliff and it wouldn't take much of a push for it to go over and collapse. When it does, you are going to want to own something real. But there will come a time to sell. We are on the verge of the greatest boom in precious metals in history. Those who profit will be those who buy cheap and sell dear. But you must sell to make that profit.