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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: SwampDogg who wrote (31079)1/27/2007 9:37:47 PM
From: que seria  Read Replies (1) of 78410
 
Agreed, SwamppDog, a smaller basket of stocks is usually better so the investor doesn't dilute the (expected positive) impact of his best ideas. But Buffett doesn't gamble by buying companies that offer strong hope of success, as junior minerals explorers do (at best), so I don't think he's a model here. Buffett typically buys companies that have proven themselves at moving product and making profits. That isn't an option, almost by definition, when buying junior minerals explorers. As I recall, you don't gamble on explorers.

For those of us who are gambling by buying junior minerals explorers, diversification is important. We gamblers get the benefit (or not!) of our stock picking, and the added effect on stock prices of a market that often seems to reward prospective as well as actual success by our juniors. If the market changes, so will I. No LTBH for me in a declining market.
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