... and I responded to Gumnam thus:
... I did not respond to your e-mail sooner because you brought up some difficult points that required some soul searching on my part.
... On your observations about GFI, DROOY, and other S.African gold miners (I have HMY, and also platinum diggers AngloPlat and Implat), I also note their cowardliness and thus uselessness. I changed horses recently, selling DROOY and buying AngloPlat
Message 18897343 .
I ameliorate the damage I suffer in S.Africa by doing this sort of thing on the US market Message 18916813
Once I decide to migrate to a certain market (meaning the currency migration decision has been made already), I generally try to do well in that equity market and stop concerning myself with the translation back into USD, my base currency. I generally keep some cash on hand in that currency, so as to average down or accumulate up my equity position in that market. This is now true of my exposure in Australia, Canada, Euro-space, and Japan.
I believe all the currencies will grind against each other, each in turn taking a punishment, because all nations need a weak currency.
On the CanRoys, I too have a concern about the relationship between revenue denomination, exchange rates, cost basis, but I also have a worry, or a bigger concern, about the diminishing yields of fixed income, the dilution of cash, and all manner of disasters in other sectors, currencies, and space. So, I must do something.
I believe the potential rise of gas price will overwhelm any possible rise of CAD vs USD, and so I do CanRoys in an admittedly very conservative fashion, so far.
energypulse.net
energypulse.net
Chugs, Jay |
