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Get the Skinny on Silver Investing Paperback – August 1, 2006
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About the Author
David Morgan has been a private economist for over two decades. His background in engineering with an advanced degree in Economics/Finance gives a unique perspective to the financial markets that pur business majors often miss. He applies the discipline of logic to verify the basics of economic law. Mr. Morgan has been published in The Herald Tribune, Wall Street Journal, and Futures Magazine to mention a few. He hosts a weekly precious metals wrapup on internet radio every Saturday with financialsense.com.
Mr. Morgan was published in The Global Investor regarding the ten rules of silver investing. His private email newsletter is published monthly.
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It's very basic and completely void of hard critical data and information, it's mostly a book of "big ideas" or "big pictures" to get the points across which are valid, but it's only a decent introduction into the different methods and strategies of investing in gold and silver out there.
The author does a good job with keeping out sales pitches and over hyping investment strategies that have potential to produce great returns at great risk of losing wealth. That is something new investors learning about silver and gold need to be aware of when someone is educating them vs pitching to them.
The entire book itself is really just a single product of the author who has his own business interests in mind and does want to sell you on his methods and his strategies if you choose to follow him more personally. But he keeps much of the hype out of the book and keeps it focused on fundamentals.
Since this book was written right before the 2007 housing market crashed, and when gold and silver were still very low overall, to pickup the book a few years after it was written shows that the author was right in many respects for the short term, and long term prices and market changes still have yet to occur (as of 03/2011) and still have great potential to happen. So the author is giving sound credible advice and information that is proving results. So even if the book becomes a bit dated, fallowing the author individually may also prove worth while.
I picked this book up along with Mike Maloney's book "Guide to Investing in Gold and Silver" which is more about monetary history and the history of gold and silver. Mike Maloney's book will get you better information, this "Skinny" book is more of a coffee table book for people to glance at and read a chapter in 30 minutes.
What this book lacks are concrete facts, details, charts and other visual graphics, credible sources of references for commodities such as CPM Group and World Gold Counsel or Silver Seeker. As well as professional and specific strategies and advice for any would-be silver investor rather than vague "be careful" statements.
He makes no mention of what can legally go unreported to the IRS, no mention of international holdings in foreign banks (which can hold $10,000 in assets without reporting to the IRS). He makes very little mention of the cause and effects of market manipulation of silver (who what where when why how), he makes no mention of the differences between holding silver in a SD-IRA vs storing silver at your home for free to minimize overhead costs (at the risk of potential theft and disaster. Very little details about different types of coins and bullion, popularity, quality, manufacturers etc... There is a lot of stuff that went unspoken in this book.
Anyone who reads this book without prior knowledge has a lot to learn before they jump in and start making investments. Just like his friend, you don't want to buy a stock share of a silver company that just has "silver" in it's name and no real business.
I'm bullish on silver, I like being a silver bug, and I have both long term and short term strategies. But when you are coming to the party late, don't get into a rush to play catch up. Seek professional advice and information and resources from many credible people. Don't listen to advice that is over hyped unless you're simply looking for creative ideas "food for thought" rather than actual investment advice.
This is a fantastic guide for the beginner in silver investing. The only criticism I have of the book is that David did not go into more detail & added more chapters about silver e.g. ancient history, all common & critical industrial applications, global production & discovery statistics etc.
I believe silver will be the ultimate investment for the 2011-2020 decade, assuming no global famine. Some fuel for thought as of 19 Jan 12:
Gold to silver price ratio: 55:1
Silver to gold mining production ratio: 9:1
Gold to silver investment ratio: $1:$1
I also believe the gold to silver price ratio will bottom out at 11:1.
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But worse than that - the text refers to charts that are NOT in the book. Example: 'The following chart shows how....' or 'the graph below demonstrates...' and then there aren't any!!! This can't help make me think this is not an original work but a series of articles from elsewhere simply thrown together in a hurry to make a quick buck. Gives a very scant overview of the whole silver and precious metals trade in any case. There are far better books out there if you are interested in silver investing. I can strongly recommend Michael Maloney's 'Guide to Investing in Silver and Gold.
This is not a large volume but is packed with information about the current state of the precious metals market. If the price of Silver were to double tomorrow and then double again next week (today's price is approx. £12.35 an ounce - ($18.53) it would still be good value.
David Morgan has been in the precious metal markets a long time, he includes pieces from two other very trustworthy and respected writers, Ted Butler and Jim Puplava. These three gentlemen together are all in my top ten of the world's precious metals writers/broadcasters and do not pull any punches. (I have held siver bullion for tthe last seven years after subscribing to David Morgan's site).
The only unanswered question is "when", not "if" the tiny Silver Market will explode. My own gut feeling is that it may coincide with the next Olympic Games, but once you own the stuff, the actual timing is fairly academic. Buy this book and then go and buy Silver bullion, not 'paper silver'.
Addendum 16th January 2013. OK my timing was off. The precious metals market has remained rather stationary since I submitted this post. However here is a little wager for you. As I write this, Silver is £19.52/ounce ($31.24). It will easily surpass $40.00 an ounce this year and probably go over $50.00 for a while. Get in now while they are still giving it away. Target price is towards $200+ within 5 years.
60 $ die Broschüre "Ten rules of silver investing"" - eigentlich eine ziemliche Frechheit!