Imperial Metals (IPM.T) Message Board

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

IPM 1.940

+1.0%

Nov 7 9:30 AM EST

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To: refugee investor who wrote (984)	2/11/2012 12:25:02 PM
From: Italian Investor	Read Replies (1) of 1366

You know people are irrational there are not many Refugees out there so stocks usually swing in either direction too much due to noise and it makes sense to sell when they are greedy and buy when they are not. It works out more times than not when I sell a name that I believe is fairly valued or overvalued and loved to buy something cheaper that is hated. Buffet back during the bubble years Coke was valued much more than today and totally overvalued he sure saw that and if he had to do it all over again I am sure he would sell because he could of got out of it and invested it in a money market and did better than KOs negative stock return plus dividends over that period. What I am trying to get @ there should be a selling price for any investment he must of saw Cokes future returns being negative for a while from that point @ such high valuations and should have sold. If he is not buying coke today @ current valuations why on earth was he holding it back 10-15 years ago @ much higher valuations could not have been him being scared of missing a dividend or paying uncle Sam @ those extreme valuations, it was one of his few mistakes. Bob Rodriguez for example has been investing in the drillers for many years now but he takes profits when he feels they are overvalued and he buys them back when he feels they are undervalued he is averaging I believe close to 20% a year with a hefty % of his fund always in cash. There was an article posted about him a few years ago that said he was killing the market with one arm tied behind his back due to his heavy cash position like 40% of the fund. Not many companies go under and if you write down random stocks getting hit and do a little HW and they make sense valuation wise and make business sense and then you see insiders buying along with big guys you will do well more times than not taking the plunge. I woke up @ 3AM this morning to do a little research on some names that look interesting coming close to 52 week lows, IDCC -55.31%, FII -37.12%, DMND -75.53%, IMN -49.12% and INTL an old holding for me down -18.03% from there highs, but I got side tracked because I took a look @ the headlines for OSTK first seekingalpha.com and it has consumed my mooring, so that research will be done later. I knew very little about Patrick Byrne accept he was the son of John who ran Geico & Wtm and he was the founder of OSTK. I also knew Bruce Berkowitz was a shareholder years back most likely due to who his dad was and the Buffet & Munger relationship. The reason why I bought was mainly Watsa and Chou are still on board and still buying after years of losses. Boy I did not expect to be reading a book and movie by him on his website and listening to an audio that was over an hour long on an investment that I have a small interest in but this is either a beautiful mind movie or Patrick is trying to do something nobody else has balls to do. I am going back to my original plan and taking the no research approach on this name and relying on Chou and Watsa to guide me I need a rest after 8-9 hours of Patrick! deepcapture.com theregister.co.uk movie deepcapturethemovie.com

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