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Gold/Mining/Energy : Precious and Base Metal Investing
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To: SwampDogg who wrote (18750)8/29/2003 11:28:27 PM
From: gold$10k  Read Replies (3) of 39344
 
Fuddle,

<<I really do not think that most gold bugs believe their own BS.>>

I don't believe that I have any BS to be believed or disbelieved. Moreover, I am a contrarian trader rather than a hardcore goldbug even though the metals have comprised 95% of my positions for the past 5 years.

<<They have lost for so long they don't know what to do when the market goes up for more than a couple of years.>>

I have no losses in the metals since late 1998/early 1999 and some excellent gains since then. If you have been following this thread for a while you know that I vary the metals portion of my PF (my PF constitutes about 95% of my net worth) from 20% to 100% depending on how certain I am that I will make money in the short/medium term, i.e. based on the current risk. My current 38% metals is not bearish by most standards, but I find it interesting that many seem to want to convince me (or themselves) that my position should be larger or that I should not sell so much. OTOH, I have no problem with those who choose to be 100% invested in metals and sincerely wish them luck since their success is still my success even if my bet is not as large.

<<There will be wicked corrections along the way but probably no bag holders over the next few years.>>

True, but I prefer to reduce my exposure until the safety of the next wicked correction presents itself. A chacun son gout.

vt
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