"If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes." - Warren Buffet. [via Money Crashers]
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Pretty much my view on invseting, although as long as I need a normal 9 to 5 to survive, I'm going to keep my own GTC-powered "circuit breakers" on my portfolio.
(A couple popped over the past week or so. Yikes.)
Speedwell: You can't eat gold and silver coins, either. I'm always surprised at people who try to imply that gold has some sort of "intrinsic" value. Food and food-making tools, and living in/near land or ocean that can support you is the only real security.
There's another maxim that goes:
"It's not about timing the market. It's about time IN the market."
If you're looking for a higher rate of return without a decade long investment (and not paying a broker's fee), go to your bank and buy fixed term deposits ranging from 90/120/180 days and years (1 to 10).
The return is higher than a savings account (1-3%) but has no long term obligation, plus it can be borrowed against if an emergency comes up because the lender knows the asset is guaranteed cash.
Why I own gold and silver coins, part #1436.