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Just Shoot Me

Bala, 28, Gordon Gekko in the making, pseudo-intellectual, cynic, bibliophile, obsessive compulsive ranter...

human stupidity is infinite

February 07, 2007

Wasnt it einstein who said something about human stupidity being infinite?. Well, i have been having arguments about the viability of buying gold jewels as an investment and have realised when it comes to destroying investment value you cant beat indian females (and a lot of males). Think about it -

a) jewellers regularly eat 20% of the "gold" they make - despite all the jazz about quality marks and stuff
b) resale value is bad. you cant sell the jewel back easily to anyone other than the original jeweller. and the other jewellers pay anything between 40 - 80 % of the actual gold price depending upon your gullibility.
c) the concept of "seikooli" (labor costs) and "sedharam" (wastage)
d) damage to the jewel due to wear and tear.
e)the tendency to make and remake the jewels multiple times over the course of years - each time the jewel gets redone, it loses a chunk of its value and actually ends up makeing one pay from the packet.

note: investment in plain gold (as opposed to in gold jewels)is about the best investment option in the world (we all love the yellow metal), but what i cant understand it is why cant they wear stuff like gold covering stuff and keep the gold as bars or coins, where they can actually see some value appreciation instead of destroying value?

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posted by Bala, 8:38 PM


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