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Gold/Mining/Energy : Cardero Resources (CDU.V)
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To: Proud Deplorable who wrote (165)7/22/2003 11:46:27 PM
From: TrueScouse  Read Replies (1) of 217
 
ralphie:

Your post says a lot about the way you're investing in the junior golds (IMHO) -- and you'll continue to get burned unless you learn that you must *expect* to lose at least 50% of your stake in *any* speculative mining stock -- i.e. those with a good story but no drill holes as yet. You should see some of the dogs in my portfolio after 20 years investing in the junior mining sector! And I still don't have the discipline t sell some of them. Could wallpaper a 10 storey office building with the certificates! :^)

This is not necessarily due to pure hype or "pump and dump". Some stories look very compelling, but you have to know that the large majority don't work out and when the drillholes don't meet expectations their prices drop like a stone. You've got to learn how to trade and start with small positions in a diversified portfolio.

I also lost 50% of my investment in CDU, but it was only a small percentage of my overall portfolio, and it has been more than made up for by 100%+ profits on bigger positions in more established plays. The good ones are not too hard to find, especially if you follow the work of people like Claude Cormier. The difficult part is having the discipline to diversify and to stick by your trading plan.

Just a few thoughts from someone who's been burnt many times. ...

Regards,
Howy
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