Imperial Metals (IPM.T) Message Board

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

IPM 1.940

+1.0%

Nov 7 3:59 PM EST

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To: refugee investor who wrote (921)	9/14/2011 9:33:18 AM
From: Italian Investor	Read Replies (1) of 1366

Look forward to hearing it. Poor Bruce, I wonder if he is selling stuff for redemptions yet? I think he must be selling a lot of stuff he was all in months ago due to redemptions and redemptions have been accelerating. I am cautious because I don't think the European crisis has played out yet, and I think it could drive the US markets and bank stocks down further. I have been tempted to do some very st trading, buy on the horrible days and sell when there is improvement, I have thought about it on three occasions and I wish I had done something because it would have worked out, but pure speculation of course. Also I need to keep more cash on hand than I used to. Same here a lot of thinking but NO action and I usually have a portion of my money buying the dips and selling the pops. I don’t think the crisis has played out in Europe either, but the valuations of some of these financials is crazy. Nobody can hit the bottom perfectly but I think we are close 10%-15% maybe more downside on the S&P @ most IMO. Bruce was forced to go all in because of redemptions, but if he was not forced I think he would be all in @ this point. FAIRX is down what 30% this year but IMO Bruce is going to be smiling again in the future. I cannot put any wholes in his thesis on a lot of his holdings, so that is why I own them and believe I am going to get rewarded significantly if I have the stomach to hang on. I saw a comment this morning in the FT from Jamie Dimon that indicates that Japanese banks, among others, will benefit from the US regulatory changes. Yea they will benefit. I love the Japanese banks I do not think it is possible to find a more hated investment class than Japanese financials a lot of money to be made IMO. MTU was what in the 20s back in 1989 now we are in 2011 and it is 4. Like most Japanese financials back in the late 80s early 90s they traded @ 3-4x book now they trade @ fractions of book and nobody wants them. Makes no sense to be trading as high as they did back then and as low as they do now.

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