RE:Galnakon is….
What's that whiner right about? Coming here on bad days and crying? Only bad days and only crying about what the stock did *that day*. One would think that EDV must be nearing zero based on his posts.
Listen, sure going back and picking a good (hindsight) gold stock 3 yrs ago and comparing it to another one which has had an incredibly bad last 9 months (I am referring to the CEO fiasco) is again, just cherry picking numbers.
The GDX 3 yrs ago is pretty much at the same price it is now - always fluctuating daily)
Closing GDX price July 2021 34.92 (it had hit $40 in June 2021)
POG 2021 - June July $1700-$1800
Closing GDX price July 2024 37.93 (it had hit $32 in June 2024)
POG 2024 - ~$2400
$34.92 put in a fixed interest vehicle at 5% for 3 yrs would have resulted in $40.42.
All-time GDX high i think GDX -Oct 2011 - ~$62
I've said for years on this board, gold stocks are not a long term hold - many disagree with that but just compare the all time GDX chart to any blue chip or general index. Sure you can get smart and picking a huge bottom but that rarely happens. No one knows where the POG will be 12 months from now. No one knows the market interest in gold stocks because that can deviate wildly from the POG.
I've been in/out of EDV for years now after learning a valulable and painful leasson holding EET (essentially up 22x and riding it down). The EET (Etruscan) was EDV's first gold acquisition. I make sure i am around for the dividend and am usually holding for 2-8 month. selling between 20-80% of my position during these cycles. It has worked well. The high dividend of EDV vs the peers in the GDX ensures a return without having to worry about each day's price.
So no he is not right at all. Just complains and if he actually holds any, it is astounding that he has not sold and just bought the GDX. That is where he obviously should be. I mean, it just makes no sense unless he loves something to complain about.
tC