RE:RE:RE:RE:Now Totally Out of TMMIt is simply that I like to exploit volatility to make more efficient use of my capital. With names like TGZ and CNL beaten down as they are, not to mention the state of the energy sector, I am happy to take my TMM profits and buy names which are irrationally beaten down. I will be back to TMM. Right now, and maybe increasingly so over the next month as the gold index continues dumping shares, TGZ offers significantly better value.
Consider that TMM did its bought deal at 55 cents with 70 cent warrants.
TGZ did a bought deal just before at 1.05 with no warrants.
I still llike TMM better than TGZ (but TGZ does have the nice feature of having a billionaire cornerstone investor), but the value you get is a matter of the price you pay. My suspicion is that from both respective levels TGZ will significantly outperform TMM over the next 6 months.
I could be wrong. Previously, when TGZ was above $1, I was selling my TGZ to buy more TMM. So far shifting between the names has worked out well for me.