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Strategies & Market Trends : Value Investing

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To: Grommit who wrote (51444)	4/29/2013 6:54:32 PM
From: Madharry	1 Recommendation of 78744

OT. This is not exactly about value investing in the traditional sense. I believe that the recent decline in the price of silver makes little sense when viewed in the context of the demand for the physical metal which are commanding 3-4$ premiums to the paper price of silver. Not only that but there was a recent writeup which indicate that the true production cost of silver is in the $23-25 range and that that cost has increased by about 7% in each of the past two years. I have accordingly added to my silver positions. buying more slw and agq and CEF today. I continue to hold positions in several junior silver miners the largest position being axu which is selling at close to what it was when silver was under $10 and they had about 1/3 of the resource that they do now. I think the risk/reward ratio of putting a portion of ones portfolio in silver is about as favorable right now as it has been in quite awhile.

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