Did i mention i covered my puts and sold my holdinNarmac, i enjoy your posts keep up the good work .
I like your advisor advise , I as you look after my own accounts, I learnt to own the banks instead of put your money in the banks about 8 years ago. I also learnt to sell companies like SU SUNCOR at 110 and rebuy them at 19 dollars. I wonder how the long term shareholders of Suncor are doing that bought my 110 dollar shares today are feeling. I am sure they where the ones selling them to me again at 19 dollars. As the other poster says HOLD YRI and you will make money, OK so how is the person that bough YRI at 19 dollars when gold was 800 feeling today , is he or she going to make money by holding , Yes maybe but i will be long gone before they ever break even.
In todays markets their are stocks to buy and hold but the worst investor is the one the becomes in love with there blue chips and doesnt SELL say 25% when the markets are at all time highs. I for one will never again hold for ever i once i make 50 % i sell 25 % even if its a nice dividend payer. then i take that 25 % and buy something else.
Will i ever buy YRI probably not , if they cant get their share price past what it was when gold was 700 then i feel that when MR BEernacky their increase interest rates in a few months then the US dollar is heading up and GOLD well its heading down.
Why would i say these things. Here is a lesson from Narmac , my friend just called me told me his broker is recommending GOLD STOCKS and he just bought in, Well folks that is mistake # 1 because MR Broker is out for himself and he is selling all his number one clients out and getting a hole pile of suckers to buy in.
Have a nice day loosing money but when brokers and average joes are talking about buying gold stocks is when i bail because you have missed the boat people.
cheers
V