Imperial Metals (IPM.T) Message Board

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

IPM 1.960

+1.6%

3:45 PM EST

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To: refugee investor who wrote (1239)	3/9/2013 9:22:58 AM
From: Italian Investor	Read Replies (1) of 1366

Jovian I have followed for many years I was actually holding them when the market tanked in 08 lost a good chunk of change back then on this name, only because I sold. If I did not sell I would have made a lot of money @ the prices I paid. You got it right buy them cheap and sell them much higher I watched them do that with a few companies over the last 5 or so years. Last year they paid out like 9 dollars in dividends (off memory) when I was buying this name it was like a few dollars a share, so I left a lot of money on the table. I have not followed Magellan in a while I don’t want to own the really small companies going into the next correction. I am avoiding them because I really got walloped back in 08 because I owned a lot of illiquid names. When we have a big correction everything will be on my radar again right now I am pretty focused on a few names. The little guy owned CNQ many times over the years and I am sure it will be in his portfolio again it is a solid well run company and I agree a better long term holding than PWE. When you have time read that shareholder letter from Watsa it was pretty good, It is one of the few places I feel comfortable putting down huge sums of money he is one of the few money mangers that protects his downside. It is funny he mentioned that 60 minute peace on China in his letter because I watched that a few days before and I was like wow I knew it was a bubble but seeing the actually images of buildings and people so eager to buy garbage only furthers my belief that this a huge problem for economies around the world when the music stops. I guess add it to the list of problems the market is putting on the back burner because whatever direction you look it is uggggly!

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