Results 1 to 20 of 48

Thread: FIRE Buys Ice

Threaded View

  1. #1
    Join Date
    Jun 2006
    US, Europe and Asia

    Default FIRE Buys Ice

    FIRE Buys Ice

    Back when we started talking up gold in August 2001 when the metal traded at $270, if we suggested that some day a large insurance company will buy hundreds of millions of dollars worth of gold to "hedge against further asset declines" we'd have been laughed off the Internet. And then...

    Northwestern Mutual Makes First Gold Buy in 152 Years
    June 1, 2009 (Bloomberg - Andrew Frye)

    Northwestern Mutual Life Insurance Co., the third-largest U.S. life insurer by 2008 sales, has bought gold for the first time the company’s 152-year history to hedge against further asset declines.

    “Gold just seems to make sense; it’s a store of value,” Chief Executive Officer Edward Zore said in an interview following his comments at a conference hosted by Standard & Poor’s in Brooklyn. “In the Depression, gold did very, very well.”

    Northwestern Mutual has accumulated about $400 million in gold, and Zore said the price could double or even rise fivefold if the economy continues to weaken. Gold gained 10 percent last month, the most since November. The commodity has more than tripled since 2000, rising for eight straight years. Gold futures for August delivery slipped $4.80 to $975.50 at 4:03 p.m. in New York.

    AntiSpin: Today, with this announcement, gold officially exited the Early Adopter stage of market development and entered the Early Majority stage.
    We entered at the Innovator stage. We intend to exit during the Late Majority stage when most of the price appreciation can be expected to occur. The dates are, of course, guesses. Our long term gold price target is $2,500.

    iTulip Select: The Investment Thesis for the Next Cycle™

    To receive the iTulip Newsletter or iTulip Alerts, Join our FREE Email Mailing List

    Register NOW to join iTulip fourm community FREE

    Copyright © iTulip, Inc. 1998 - 2009 All Rights Reserved

    All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Nothing appearing on this website should be considered a recommendation to buy or to sell any security or related financial instrument. iTulip, Inc. is not liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. Full Disclaimer
    Last edited by FRED; 07-08-09 at 06:16 PM.

Similar Threads

  1. Replies: 178
    Last Post: 01-06-10, 02:54 PM
  2. China buys oil
    By Mega in forum News
    Replies: 13
    Last Post: 05-13-09, 09:26 PM
  3. Russia buys Libya's debt!
    By AmericanBushi in forum News
    Replies: 2
    Last Post: 04-18-08, 07:29 PM
  4. The US Dollar Buys More (!)
    By GRG55 in forum Rant and Rave
    Replies: 2
    Last Post: 03-26-08, 10:33 AM
  5. MEGA buys GOLD
    By Mega in forum News
    Replies: 52
    Last Post: 01-20-08, 05:11 AM



Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
Copyright iTulip, Inc. 1998 - 2020 - All Rights Reserved Opinions expressed herein are those of the posters, not those of iTulip, Inc., its owners, or management. All material posted on this board becomes the intellectual property of the poster and iTulip, Inc., and may not be reposted in full on another website without the express written permission of iTulip, Inc. By exception, the original registered iTulip member who authored a post may repost his or her own material on other sites. Permission is hereby granted to repost brief excerpts of material from this forum on other websites provided that attribution and a link to the source is included with the reposted material.

Nothing on this website is intended or should be construed as investment advice. It is intended to be used for informational and entertainment purposes only. We reserve the right to make changes, including change in price, content, description, terms, etc. at any time without notice. By using this board you agree that you understand the risks of trading, and are solely responsible for your own investment and trading decisions. Read full legal disclaimer.

Journalists are not permitted to contact iTulip members through this forum's email and personal messaging services without written permission from iTulip, Inc. Requests for permission may be made via Contact Us.

Objectionable posts may be reported to the board administrators via Contact Us.