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Gold/Mining/Energy : Gold and Silver Mining Stocks

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To: lbs1989 who wrote (1115)	5/27/2001 12:22:14 PM
From: russwinter	Read Replies (1) of 4051

<How many stocks do you feel should be in a well balanced portfolio... 10?> That would be fine for a 80K commitment. A little word about overweights. Actually you kind of hope that happens, cause it's a sign you have a winner in there. For instance, one of my largest positions is MR, but that's because it has tripled in the last few months. I've made the judgment the story isn't over, so I'm making no changes. In this sector you may make almost all of your profits in a quiet year in one or two names. Another example of how I try and manage positions is Nevsun. Here I got lucky during tax loss selling in Dec. and doubled down on a stinky bid at 14. My first purchase was 52, so my average cost is 33. The stock surged to 44 last week and I sold 20% (of the high cost stock for taxes). I want to maintain this play, but I just wasn't interested in being heavily overweighted in it. So the difference between the two is just a judgment call. I just continue to do little calculus of risk-reward. I'm not claiming to even be very good at it but it's my method. In fact my personal history in investing is to be early and then sell big winners too soon, but that's probably fairly typical.

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