Hello Pezz, I am back in Freedom You-Know-Where and Money Nearby after six days in Moscow and two in Beijing.
I did next to nothing on portfolio management in the last couple of days.
I did make promise to regularly remit funds on auto-pay basis to my Russian relatives so that Yolanda Junior can focus on baby making, and Yolanda Senior is taken care of. My English Jewish blah blah … Chinese brother in Beijing will join me in the exertion.
In the greater scheme of gene wave propagation, my ancestors did well by (a) passing on the financial prudence gene code, (b) hardwiring in the be-generous-to-family chromo-trait, (c) diversifying geographically, not just to 'safe' locales, but also to where few have ventured, and (d) programming error-controlled, redundant back-upped and strong codes for the widely spread gene carriers to search, seek out, recognize, and help each other regardless of the interim passage of time and resultant separation of space.
Solid hardware and robust software, comprised of, in Maurice-speak, bags of sea water, trying to carry on.
To finance my share of the unexpected long-term call on resources, while unwilling to run up a permanent increase in the ordinary budget, and mentally unable to draw down and set aside portfolio, I will have to sell a bunch of puts on NEM during the coming gold correction to pilfer enough premium so as to meet my new obligations.
I suppose it is good that I am not the First Citizen of a small country. Otherwise I would be financing the entire government budget on NEM puts:0)
But, what is this?
Message 17484824
I am not nervous about NEM [disclosure, I am long shares, short put (25) & short call (20/30) in accidentally deformed straddle]. If I have to worry about NEM, then just about all gold miners are in trouble and we should be able to count on hedge contract explosions and obligation set-asides, not to mention large Central Bank sales to rescue the distressed.
I am nervous about the audacity of the scale the AIG-types are playing at, not as a (small) percentage of their own balance sheet, but as a percentage to gold miners’ profit & loss statement. Ranks are beginning to break, because the ability to survive is becoming important:
mips1.net
‘retired’, looks the short put/call straddle approach to ‘lather rinse repeat’ is advisable, and again, again and again once more, because the powers that spawned forces of ‘DeathStar & Ricochet’ is still strong and they will defend the underpinnings of the empire, its monetary foundation, cash scheme, and important long term revenue source, namely debasement of currency. ‘Gold Must Die’ is an excellent title for a movie, full of drama, mystery, intrigue, romance, sorrow, … and triumph:0)
Chugs, Jay |
