Thursday, February 07, 2008

reddit: an investment guide?

This is not an investment blog and I while I may pass as a "startup guy," I'm by no means a capable guide for investing. That said, I recently noticed an unexpected benefit from having read reddit on a daily basis since its inception.

My only goal for investing is to not screw myself. If I've accomplished that, I'm happy. At some point last year, 'my guy' told me he was looking into some options for a remaining chunk of my portfolio. But he was having trouble, since I'd blacklisted a number of companies.

He was running through some suggestions and suddenly "gold" popped into my head. I'd been reading the "U.S. RECESSION!!!" headlines on reddit for quite a while, so it made sense to invest in something with some inherent worth. Everyone loves bling-bling, especially Ron Paul.

So I bought into iShares COMEX Gold Trust (IAU) at $67.17 a share.

Today, it's right around $89 (for about a 33% gain). Who knows where it'll go from here, but for the time being, "Thanks, reddit!"