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Get the Skinny on Silver Investing Paperback – June 14, 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.