Dear Russ,
Thank you for your reply! I have tried to become relatively informed in a short period. Before I launch off half cocked, as it were, I felt I must try and get some help. The portfolio had about $640,000 in it at its peak 31/12/96, including ALTA, BEMA, GREENSTONE, DAKOTA MNG, CANYON, CROWN, ROYAL OAK, MIRMAR, GOLD CORP, PAAS, VENGOLD. I wont mention the purchase prices in 1996 but this was ALL the discretionary savings.
So the "trick" is can we come up with a portfolio after applying some sound judgement on the current available facts that will rise to a break even or above level in a strong market?!! Is there an "8 bagger portfolio" out there? I think we will see a strong market again but the timing is the question. In the mean time we have to be patient.
I agree for what it is worth and what I read that GLG needs another project. I just wonder why they have done so well lately?
I agree on the balancing idea but there are so many names offered since 10 th April that I am not sure how I would rank them as additions to the portfolio. Are there any "8's" in a rising to $400 gold or above market? I would not buy large caps at this point. We need some bang for the buck that wont go bankrupt while we wait, I think. ( A couple more posts and someone will think I know what I'm talking about!)
Want to go out on a limb for us and say what you'd do with the $80k. I promise not to saw it off!! I think we should sell the Rands for sure. No bang there!
Again thank you for your advice and patience!
Best Regards |
