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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: SwampDogg who wrote (18750)	8/29/2003 11:28:27 PM
From: gold$10k	Read Replies (3) \| Respond to of 39344

Fuddle, <<I really do not think that most gold bugs believe their own BS.>> I don't believe that I have any BS to be believed or disbelieved. Moreover, I am a contrarian trader rather than a hardcore goldbug even though the metals have comprised 95% of my positions for the past 5 years. <<They have lost for so long they don't know what to do when the market goes up for more than a couple of years.>> I have no losses in the metals since late 1998/early 1999 and some excellent gains since then. If you have been following this thread for a while you know that I vary the metals portion of my PF (my PF constitutes about 95% of my net worth) from 20% to 100% depending on how certain I am that I will make money in the short/medium term, i.e. based on the current risk. My current 38% metals is not bearish by most standards, but I find it interesting that many seem to want to convince me (or themselves) that my position should be larger or that I should not sell so much. OTOH, I have no problem with those who choose to be 100% invested in metals and sincerely wish them luck since their success is still my success even if my bet is not as large. <<There will be wicked corrections along the way but probably no bag holders over the next few years.>> True, but I prefer to reduce my exposure until the safety of the next wicked correction presents itself. A chacun son gout. vt

To: SwampDogg who wrote (18750)	8/30/2003 1:27:03 PM
From: russwinter	Read Replies (1) \| Respond to of 39344

<They have lost for so long they don't know what to do when the market goes up for more than a couple of years.> That kind of assumes everybody here's been involved for years and years and cycle after cycle and choose to be bagholders in the bear markets. I didn't really start until after the WAG agreement in late 99 (pretty much corresponding to my membership date on SI in fact, those were the days), and just got in heavier and heavier during the lean period. So perhaps my perspective is different? Anybody who hasn't done well in the environment of the last three years ought to take up knitting or something, not speculation.