Being right too early doesn't feel any different from being wrong, until your time comes.
In the spring of '96 I fell in love with Canadian banks #Subject-11709 , had 80% of PF in financial service stocks, the great majority banks .... felt really stupid during the summer and early fall of '96 as they tanked ~20%, bought more on margin - the fundamentals were there - rates were coming off, bad loans coming down, bottom lines doubling and tripling. Then from ~Nov '96 to ~Jan '98 they better than doubled, better than tripled in a couple of cases, while the increasing dividends paid the margin interest several times over.
Sold them all, and since fall '97 have been more or less steadily getting into golds. Way too early, and if it hadn't been for horseshoe luck trading Kinross, the paper losses would be a huge percentage. I've got +45% golds at the moment (from ~8% in '96) - the fundamentals are there imho, and the day will come.
'Capitalist Pig' sees it the same way 209.67.31.6
Add up all the current market caps of all the gold stocks on the planet, compare with the current market caps of some of the tulip bubble efforts .... fairly simple choice, imho
..... cheers, all |
