Short game/long game...starting to get interested...Too many, if not all of you, are entirely short sighted. You cling to a story and hang on every tick up or down as if it had real significance....it doesn't. On the other hand if you are one of the rare people who play the long game you often lose sight of meaningful short term influences and end up long suffering before your thesis can play out.
Two things....
As Buffett said...."price is what you pay, value is what you get"
and
There is no "Market" only a casino full of gamblers and manipulators where as Buffett said....in the short term it's a voting machine and in the long term a weighing machine.
What's my point you ask?
In the short term it was obvious that gold and gold miners had a decent run. It was warranted given the prevailing thinking that the global economy was headed for recession. However...that narrative was overruled with the FED's "higher for longer" boot stomping economy wrecking mantra which should have been your wake up call to exit the gold "trade"
What about the long game you ask?
Well it's simple....with talk of a Fed Funds rate of 6% ....from zero in a straight line....the fastest rate climb in all of history...and a planet awash in some 400 TRILLION $ in total debt (give or take a few hundred billion between friends) It should also be obvious that an economic train wreck is inevitable if not imminent.
Back to short term vs long term....in the short term this clearly means fear, loss, bankruptcies, defaults, economic slowdown and eventual train wreck
In the long....or should I say medium term...6 months or so....it means the omnipotent criminal central bankers will once more be confronted with letting it all burn to the ground or pouring more gasoline on the fire because that's the only liquid availible in their "tool box"
This is when the real fecal matter hits the spinning blades and when gold becomes THE asset to own
We're getting close now....very close...so close in fact that despite gold stocks at risk of significant plunges as the "market" tanks....the risk of starting to accumulate has diminished if you're slow and methodical
I bought some SAND this morning...a starter position. Let the junior miners dilute themselves to death so long as they keep delivering gold to the SAND coffers
Skeena had some nice results....I-80 has been too quiet on the drill results making me wonder if they hit some dusters and aren't releasing the results until they can cover them up
Too soon to start positions here but they're on my radar again...I want them for next to nothing after they've been smashed to a fine powder and everyone has given up
Soon....
Long term/short term.....understand this and you won't overpay, over stay, over analyze or get too far over your skis.
Cheers!