Ultimately the smart guy in the room is the guy who makes money. You can clearly make money on equities as my father has repeatedly done. You can make money in real estate, you can make money in precious metals etc.
You can also lose vast sums of money on the same depending on timing. So ultimately the smart people are the ones who have the best perceived timing. Personally I have lost enough in the stock market to let me realize that an investment can start out being "worth" something in a relative term. By this I mean it has a number on a ticker. I have also had the wonderful experience of seeing that number go to zero or close enough that the result is the same.
My experience with this was due to fraud in the market but I appreciate the lesson and decided that there are investments that are worth value and those that are not. In my opinion gold, silver, oil anything tangible is better to me than something that is not because at the end of the day it is still worth something if you have it in your possession.
I guess my end lesson was that any FIAT anything, be it dollars, stocks, hope etc has no intrinsic worth to it. If you buy real estate in a place where the yoke of government is such that you lease or rent it from the state you will never truly own anything (California). I moved to a state where that is less of an issue due to ongoing taxes so at some point I will own my property free and clear and the taxes are minimal (200 per year).
So ultimately the point is a person could buy something today and that goes up making them smart. I think ultimately when you sell and what you end up doing with that is important. I personally invest in tangible goods now since to me that has the real value. Unless you have done that you will never really understand what that means. I like to think about silver in the terms of cold, hard cash. It is cold, it is hard and it is very exchangeable for "cash".
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