International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: TheBusDriver who wrote (5431)	4/5/1997 11:50:00 AM
From: Karl Zetmeir	of 35569

It's been a difficult week .. thanx for asking. My portfolio has been butchered in making a 7 figure margin call. However ... I don't have any problem with repaying my debts. I feel very fortunate that we didn't see a 1929 type crash where every stock went to pennies on the dollar ... and then trying to meet margin calls with worthless equities. I measured very carefully which stocks to liquidate ... which ones to keep in that they held the best possible return in the short term. I'm happy to say that I managed to retain the bulk of my IPM position ... and when IPM goes to $1,000/share ... I'll be happy indeed! <G> I have learned a valuable lesson about taking profits on the way up ... although I actually did that very early on with BXM ... my basis in BXM is zero ... so I'm still profitable. However, I did have to sell approx 20% of my BXM to finish the margin call. The other lesson I learned is to take a close look at the liquidity of a stock before you buy it ... trying to raise cash from illiquid stocks is tuff ... some, like RGA were impossible ... not even worth trying. Karlstillalive'nkickin (apologies to Chucwhatever)

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