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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: AlphaRomero who wrote (54774)	12/31/2007 12:45:46 AM
From: pogohere	Read Replies (2) \| Respond to of 78432

I look for companies with very good management, properties with excellent prospects in politically secure places (as a rule, but not always), the likelihood of production within 12-18 months and stock prices preferably below US$1.00 per share. It rarely turns out that all the pieces fit together neatly, but those are the factors that I weigh heavily. I'm willing to wait quite a long time as long as those factors continue to be positive. For example, I held Arizona Star for 5 1/2 years and made out very well. I wasn't crazy about management (Bema)but the resource was proven, even if it was clearly going to be expensive to develop. And, by the way, it still hasn't been. But it was a huge success for me--I made almost 200% per year. I'm willing to speculate if upon doing my due diligence there is a reasonably good chance the resource will be proven and management is experienced and reliable. I've dumped what turned out to be really good investments because I lost patience--Tenke, Silver Standard--so when I'm getting anxious about something I'm in I look back and remind myself that I made good choices, but I was short on patience. I'm inclined to stay with an investment that isn't moving (so-called "dead money")if the factors, what I call the fundamentals, that convinced me to buy are still operative. Occasionally, I will use technical analysis to see if an investment that is a long way from success is "overbought/over-priced," in which case I will sell and get back in later if all the factors that drew me in to begin with are still present. MMG is a good example of that. Take a look at its chart for the last 2+ years. Lots of chances to get in and get out, even for me, a lousy trader. I don't begrudge a seller a few more pennies when I'm buying penny stocks if I like their prospects. Once I'm convinced to invest in a company that meets my criteria I sleep better if I own it. I don't like being out of what I really like--I want to think about other things. After all, I'm after 5-10 baggers in the long run and a few more bucks up front won't matter if I'm right. I scan all the posts on this thread and a number of others. There are a lot of good people posting very useful stuff. There's a lot here I don't bother with--I can't be in everything and don't understand a lot of what other people see in what they like. I've had to learn more about economics, geopolitics and the history of money than I wanted to, but found that I couldn't understand what I was looking at unless I studied. I also figured out that I needed to think the unthinkable when the thinkable didn't make sense to me. It also helps to develop a thick skin. I know a lot about very little and very little about a lot. It's all pretty time consuming, but it beats working for somebody else for a living. Good luck to you.