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 (1081)	5/14/2012 7:32:36 PM
From: Italian Investor	Read Replies (1) of 1366

I like the Loews name more and more as I get more familiar. Like Price said if you own Berk you should sell it and buy Loews. Really Berkshire has not even been much on my mind since you mentioned Loews because it is similar cheap if not cheaper being 1/10th the size and extremely well managed with good capital allocators that honestly believe buying there own shares is the best thing going. These guys due less deals than you and I did not think that was possible. I am completely the opposite of you guys I change my mind constantly sometimes for the good and sometimes for the bad , but when it is all said and done it is my guess I avg in the 20%s area after taxes. For me being a LT holder is still a few years away but my mind is starting to go there. I still think it is a few years out until the market comes around to loving stocks again so why pass up sizable returns if you believe you might get a second chance. Take a look @ one case that has went my way and we will not look @ Imperial LOL because I never got a second chance and does not look good in my current bragging example. Jef when I first met you it was one of my largest holdings and I was buying it for like 9-14 and I would of sold it for 30 but waited an extra couple of weeks (I believe might have been a month) and sold it for around 28 for LT gains. Most recently I was buying it in the high 9s up to around 12 I believe and exited in the 19s. I bought more today in the 13s and hope to keep buying on the way down. What a big mistake it would have been if I was just a buy and hold investor on that name. Yea I believe JEF is going to be much higher looking out but when the market is the way it is right now you are going to get opportunities again and again. Anywas what I am trying to say is that JEF alone probably got me a significant percent of my net worth and if I did not make those moves I would of left a lot on the table. This year I am down 14% from my highs which is very upsetting considering I went to a very high position in cash relatively early in this mini correction. I try to look @ it positively being up a little over 16% right now but I am pretty upset with my performance this year. I guess being down around -13% Thanksgiving of last year to get all that back and be up now around 16% I should not be upset but I hate losing. I saw this turn from a mile away taking a high position in cash and I still went down pretty hard and it was only a mini correction so far. I look @ my competition Bruce is the only one beating me but that should not be the case I messed up being too early on one sector coal. My NG stocks are actually profitable due to trading surprisingly my only loser really is NFX which I can buy again now that I am free from of Uncle Sam. I made money with XCO overall even counting the loses I got hit with when I cut it in half (has been a rock during this decline from 1420 on the S&P), SD (also made a little money trading but much less than XCO). Coal I never had a chance only profitable with BTU on numerous trades but it is my guess I lost 6%-7% return wise on coal. Most likely would have made some money back on ANR if Uncle Sam did not have that stupid wash sale rule because that name has been so volatile down a few % and then going up a few % on many days the last few weeks I would have made some money back I know it. Anyways, just had to cry off my losses a little bit and try to build up my confidence, oh yea and that girl was pretty nice lol.

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