Gold
From CaseyPedia
Gold is the ultimate shiny object.
Casey Serin has hypothesized that when people finally realize how worthless their dirty pennies have become, they will trade them all in for gold which is a lot shinier and less dirty.
Based on this hypothesis, Casey has recommended investments in two highly-speculative gold mining stocks[1], GSPG and MYNG, and has admitted to purchasing 1.3 million shares[2] of one of them on April Fools Day, 2007 using his corporate credit. The stock subsequently lost over 60% of its value in a just a few weeks, but later recovered. In a rare success for Casey, GSPG continued to appreciate and was sold for a gain of approximately $50,000, then re-purchased at a higher price several weeks later.
Casey has admitted to Nigel Swaby that all his other stock investments, which some Haterz™ believe included MYNG, had been failures.
See also: gold nugget.
