"Don't you want to talk about stocks and how to make money in them rather than doting on this drab and mundane subject?"
You know, mining company stocks suck. I read article after article about slowdowns, epic low pricing, cutbacks, selling assets, unrest, raising cash, environmental disasters..... Not to mention the big equipment companies (CAT, DE etc.) have sold nothing to these guys the last number of quarters, dampening what might have been decent earnings for them. multiyear down trends, new lows. My god its horrible. No way they recover for many years. Probably drop another 20% from here.
Knowing that in my gut just screams to me, I need to buy some. So I know its way to early for you nimble guru types, but I just can't help myself. Putting myself in obviously losing patterns, against my emotional conviction have paid off more than a few times. Now I'm NOT talking gold miners. Gold seems to dance to its own tune and those miners just seem to hum along (although off key at times) with them. Never been much of a gold person, can't dance to that rhythm. That said, I've never owned a mining company so I just picked a bunch of big multinationals. I know you espouse having cash laying around, but I'm out of a bunch of specs we chatted on and I just can't help myself but to put cash to work someplace. So anyway thought I'd go out on a limb and bring it up for fun. Someday everyones going to love miners, just hope its in my lifetime. |
