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Strategies & Market Trends : Value Investing
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To: doug5y who wrote (26509)4/10/2007 11:51:58 AM
From: Madharry   of 78745
 
Although I am happy with the way EDVMF has performed short term, (as some of you know its once again far and away my largest portfolio position) I re-iterate that its more of an investment bank for natural resources than a natural resources fund. I expect that the bulk of the money is made by obtaining shares and warrants in start-ups at low prices and selling them once they have reached a solid return on capital. Therefore there are times when EDV may hold as much as 50% in cash and its quite possible that it could be at a time when natural resources are skyrocketing. So EDV is just one of the natural resource components of my portfolio- which include SIL, plg.to, DML.to and other junior miners.

CHK went above $33 today and I took some profits, I hold a fair number of longer term calls with a strike price of $35 so I feel that offers me some flexibility. Since I owned in the money calls which expire in April I did not want to take a chance on getting caught flat footed by a sudden decline.
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