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Gold/Mining/Energy : Gold and Silver junrs- portfolio -- Ignore unavailable to you. Want to Upgrade?

To: TheSlowLane who wrote (156)	4/8/2008 11:25:58 PM
From: tyc:>	Respond to of 328

You hit the nail on the head when you talk about investment by committee. I appreciate your insight. But then I appreciate Metacomet's point of view as well. I should have known better. Years ago for a spell I was a stock broker... a poor one !. We knew that if we put a client in a stock and it went down, we would be forgiven. But if we took a client out of a stock and it went UP, we would NEVER be forgiven. That's why brokers never recommend selling ! (I think that story is relevant )

To: TheSlowLane who wrote (156)	4/9/2008 9:45:24 AM
From: tyc:>	Read Replies (1) \| Respond to of 328

>>The topic (stop loss orders) actually came up again today when we met. The directors (a subset of the partners that are tasked with the investment decisions) agreed that all positions must have trailing stop loss orders, with the default being 30%. The sponsor for a stock has the option of specifying a tighter stop, without requiring a vote. We have a 20% rule. If the stock loses 20% it's out unless the thread wishes otherwise. By reviewing for nascent trends, I have been trying to maintain a tighter rein, believing that a srtock that hits a new 13 day low, is no longer on an uptrend. In future rather than make recommendations to the thread, I shall make my recommendation to the sponsor by PM, and he can recommend action to the thread as he sees fit. That'll test my powers of persuasion. The topic is still open for discussion if anyone feels so inclined.