Imperial Metals (IPM.T) Message Board

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Gold/Mining/Energy : Imperial Metals (IPM.T)

IPM 1.970

-0.5%

Nov 11 3:59 PM EST

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To: refugee investor who wrote (748)	1/26/2011 10:42:36 PM
From: Italian Investor	Read Replies (1) of 1366

Interesting China Video, who is that guy, Not Grantham? His letter good too. No idea who that guy is a friend sent it to me and thought it was interesting. Grantham letter is right on!! Nothing wrong with J&J, that's for sure. I only have 10% in cash so no rush. I am hoping for a nice correction. 10% cash wow you are ballz to the walls. I could not sleep @ night if I was 90% equities! We are in the late innings of this rally and desperately need more drugs (6-12 months from now) to keep it going into extra innings. Why take on so much risk? If there is a significant correction you don’t have much ammunition to take advantage. A lot of smart guys are calling for a significant correction in the developing world and that cannot bold well for commodities or the USA market. I am @ my lowest weighting in commodities in years. I have made the big shift to safety and that is why names like JNJ, are appearing in my portfolio. We have the developing world in a bubble, Europe in a mess, and the USA having an artificial rally that also has significant problems to deal with. I think it is safe to say when all the stimulus and austerity measures take place GDP will be way below most economist predictions and P/E ratios will be much higher on most names. I do not like this market but what the hell do I know everyone on CNBC is a bull it must be right. I think people are blinded by greed and the fear of missing out in the ST or underperforming someone else don’t get fooled. Don’t be greedy you win if you are 70/30 or 60/40 just not as much but it is a smart decision IMO. Who cares if you miss out late in the game as long as you know that the opportunity to get back in @ the early innings will present it self again. I have been roughly 35-40% cash this year and I am still kicking the markets boooty by a mile. Cash is valuable (my cash pile is still heavily weighted USD but if commodities pull back as I think I will be a buyer of Canadian and Australian debt, plus maybe some emerging market debt for more diversification currently own very little of this stuff)!

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