What was the temporal cost and cognitive burden of holding gold?

If silver:

• Spent ~8–10 years chopping

• Then repriced sharply near the end

Your annualized return over the entire holding period might only look like:

• ~8–12% annualized (depending on entry)

• With very high volatility

• And zero cash flow

That’s not bad — but it’s not exceptional given the opportunity cost.

Silver is not a time-efficient asset.

It is a temporal option.

You’re not paid for holding it.

You’re paid for being early and patient enough to be present when it reprices.

The mistake isn’t owning silver.

The mistake is treating time as free.

Time is the most expensive input in markets — and silver charges a lot of it unless you know exactly why you’re there.