hello c2, i like fnv (and slw), and am in methodical / systematic process to continue accumulating both.
i had started the accumulation process at the start of this year in what is likely to be long process, because the metal bulls are young bulls
(i) re fnv, i so far
2012 01 12 Message 27876627
<<... Shorted FNV April puts strike 40 @ 2.20 ...>>
2012 01 26 Message 27907367
<<Bought Franco Nevada @ 44.29-44.299
Bought Silver Wheaton @ 35.654-35.676
Even as I had earlier shorted puts>>
2012 03 05 Message 27990530
<<... sold covered calls at the money or slight above, all April expiration, at market, on many shares (gld, slv, gdx, gdxj, FNV, slw, abx, remx, clf, paas), and leaving alone nly, arcc, cpf and mcd. ...>>
[the shorted covered calls all expired worthless on my counterparties during the bear market we continued to experience until just so few weeks ago]
(ii) overall i am at
-1.5% cash
44.1% metals (59% au, 17% pt, 24% ag)
11.1% public equity (gdx, gdxj, paas, fnv, slw, abx, nem, remx, arcc, cpf, mcd, petrobank, vermilion, cameco, ...)
---------- ------------------
53.7% liquid (ytd +17.7%)
7.3% p.e.
38.95% r.e.
---------- ------------------
46.3% non-liquid (marked at or below cost)
(iii) i am happy w/ blended ytd for liquid + non-liquid of +9.6%
(iv) i think we shall be enjoying more or less smooth sailing until sometime in february 2013
(v) i think any fiscal-cliff enabled market action should be played opposite the way the general market plays it, whatever the direction.
cheers, tj |
