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Cautious With Commodities
June 30, 2008

Cautions In Commodity Investment

I always try to err on the side of caution. Where investment is concerned I tend to do my homework and often find myself swimming outside the whirlpools that are a consequence of trends.

That is why the Walewski and Bendahan article on CityWire caught my eye, ear and interest this morning. Here are two very prominent fund managers limiting their exposure to precious metals. Going against the trend in a still rising market! Always a good warning sign for us little folks.

Where gold, silver, platinum and palladium are concerned, your holdings will always have value. Just don't get the idea that their value will always go up. As with any investment it is never wise to hold on too long trying to hit the peak. If you find yourself at the top of a market with large holdings, it's not so easy to jump off before the downhill slide. Selling in a declining market can be difficult and holding on, waiting for a return of the bull market can sometimes take years. Ask anyone who had a stake in gold or silver in 1979 and still had it in 1980.

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About the Author
Tom Michael has been Krause Publications primary market analyst on more than 80 world and United States coin catalogs produced over the last 20 years. He came to KP in 1987 with a bachelor of arts degree in history, a master of arts degree in economics and a history of coin collecting stretching back to the 1960s. He began collecting world coins as a child by asking friends and relatives to bring coins back from overseas trips, visiting flea markets and having his mother watch for foreign coins in her register at the local grocery store. Today he works with a dedicated base of over 200 contributors to provide accurate market values for the five-volume Standard Catalog of World Coins series, as well as many specialty catalogs, including Coins & Currency of the Middle East and the fifth edition of Unusual World Coins.

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