Some food for thought (and to keep this thread active) ...
In Saturday's Globe and Mail, there was mention that Warren Buffet might still be in the market buying silver. It said that the fundamentals of the market are the same as when he first started buying, and the price has returned to approximately the same level.
I hate spreading rumour, and so I would like to remind everyone that there are no solid facts behind this buying statement. I do respect some of the down-to-earth advice that Buffet can give, though. One of the best piece of advice that I remember from him went something like this (I'll paraphrase to bring it up-to-date):
"Investing can be compared to baseball, except that the only time you strikeout is when you swing. Don't worry if you don't swing at a Diamond Fields at $4, there will always be an Arequipa at $2 or a Ballard at $15." (all these prices are pre-splits)
In other words, you don't have to catch every home-run stock, there'll be another one shortly. (For those that don't remember, Diamond Fields was bought out by Inco at $160 a share, and Arequipa was bought out by Barrick for $30 a share).
Neil.
PS. Now that i) Argentina is in the depths of winter, ii) the financing has happened, iii) the stock price has settled since the last spike in silver prices, and iv) the global equity markets are having their mid-summer shakedown ... I figure that now is a good time to buy YRI. We should see some appreciation back to at least $1 by the time the drills start turning. |
