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Posted: 6/16/2009 2:19:41 AM EST
I have some money in my Roth for a purchase. Any suggestions for long term? Maybe Ford which is around $5.50 or is that too risky right now (might get stolen by O'bama)? What about a commodity of some type? Any suggestions?
Link Posted: 6/16/2009 3:05:54 AM EST
My long-term precious metals commodity investment is in Vanguard's Precious Metals and Mining Fund (VGPMX).
Link Posted: 6/16/2009 3:26:38 AM EST
To me, long term means ten years and longer. I wouldn't buy any stock and expect to hold it that long. The one possible exception might be GE. But over that kind of time frame I'm much more comfortable with gold. I'd suggest COMEX gold (ticker IAU). Unlike a lot of ETFs (GLD for example), IAU is backed by an actual physical amount of gold stored in a vault in the Bank of Nova Scotia. So your share represents a stake in an actual physical gold deposit.
Link Posted: 6/16/2009 8:35:20 AM EST
Barrick Gold - ABX - world's largest producer of gold.

I personally own this and besides the volatility right now, I believe it to be a great long term investment. It's called Spongetech. Here's why I like it...

- SPNG CEO Michael Metter stated their goal for this company is to be
a $500 million company. Think about what that means to a 15 cent stock.
-SPNG is operating with no debt at all, that's something to be said as
almost no company, let alone a OTC stock, operates with no debt.
- SpongeTech continues to put out PRs as they achieve more goals and
gather more customers, introduce more products and build their $500
million company. (Say it with me: Five Hundred Million Dollars!!!!).
They are helping the value of your investment everytime they do that!
- The CEO, Micheal Metter said "We've just scratched the surface." They just doubled
their advertising budget for the next year. Think of the number of
people who are learning about and buying these sponges now –– with a
limited number of products. Now think about all those new people
learning about SpongeTech and the same customers buying more of the
same products along with a bunch of new products!!! This next 12
months is going to be quite a ride!
- Warren Buffet has made billions by thinking long term –– like 10
years or more!!! This is certainly way outside of Buffett's normal
focus, but the lesson is the same. Just buy on the dips, hold what you
have until your magic number arrives: $1, $3, $5...$10 whatever. This
*isn't* a trade! This is an investment in a company who's sales
multiplied by 10 last year –– from $5.6 million to over $50 million ––
with just 6 entities buying their products, no SpongeBob, no WalMart,
no medical products
.
- SPNG has stated they would like to go on the NASDAQ exchange.
- Their product is starting to be sold in big box retailers such as Costco and are in 80 some percent of Wal-Mart's in Japan and in 22% of the Wal-Mart's in the U.S.
- Shareholders that have bought their product have stated that it's a great product and works really well.

I see all kinds of posts on discusssion boards talking about this being "Just a sponge."
Okay we all know those short-minded individuals are just clueless.
It is a delivery system, not a sponge. But saying that sounds like an
attempt to defend the company. (And a little gay if you ask me. Not that
there's anything wrong with that.) Who cares what those [poor] morons think?


Personally I don't care what this company is selling. I think it is a
very cool product. I am excited about it because of what it can do in
terms of *growth*. Isn't that why people invest? No doubt I'll be out
in 3-4 years (or sooner depending on the share price).

When all is said and done this will show to be an amazing investment
for me.

I am not paid or compensated in any way to promote this or any other
stock. Of course I want the stock to go up so I'll be continuing to
find reasons to stay interested, even on days when we "only gain .01"
That works for me.


Here's a pretty good write up on the company....

http://stopthejunk.com/2009/06/should-i-buy-spongetech-stock-spng/
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