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Gold/Mining/Energy : Imperial Metals (IPM.T) -- Ignore unavailable to you. Want to Upgrade?

To: Italian Investor who wrote (1010)

3/1/2012 7:11:00 PM

From: Italian Investor

Read Replies (1) | Respond to of 1366

What a year! Let me say that again what a year! Today I started adding to my MBI position again after cutting it in half when it was near its highs. I also started new positions in (SDS and SH) these are ST trading tools that I plan on using here and there during the year looking for a few % then I am going to ditch them. I trimmed down my BAC and AIG position considerably to make room for some commodity names and I also want to go with my best ideas and was not comfortable having over 30% of my money in finacials. I would not hesitate buying BAC and AIG common or adding to my warrants if there is a nice correction still think they are very cheap, but everything I own is crazy cheap beside maybe Pepsi so taking a gamble and got my fingers crossed they correct and my current finacials hold up. MBI, Bruce Berkowitz still has this name as his largest position in his smaller fund so I made it my largest position today with the 5% sell off. JEF is my favorite company and in my mind the best financial company around and it does not hurt that it is still LUK’s largest position so I have it in the number 2 slot even though I am up considerably on all the shares I own and you know it is not like me to hold onto big returns in a very short time period. Tesco is what I think is Buffets best idea so it is in the number 3 spot. XCO is one of Wilbur Ross largest positions and a company I have been following for many years that is incredibly cheap WHEN not if NG prices become more rational. NFX got pounded almost every day this year and they will be oily next year so I am a buyer, Bob R also has a position in this name. Sold out of BAC and AIG common and hold 4.5% in the warrants still think these names are really cheap, but had to cut back somewhere oh yea I think I already said that, but it killed me to reduce these names down to where they are @ in my portfolio it was really tough. PEP own it because Yackman has it as his largest position and I want a safety name with a decent yield, have to have at least one name that is not so volatile in my portfolio. ANR was getting a buyout offer for 120 a share a few years ago now they are in the 18s and they picked up Massey durring this descent, hope this name keeps falling they are trading way below book and they are one of the most solid Coal companys financially you can find, so I would love to buy them cheaper and cheaper. JRCC I bought today pre market and I sold it for a 10% gain that was another SNE trade hope I get many more like these. I also plan on getting back into JRCC in the 5s because it is dirt cheap. Then I got my Watsa positions OSTK, RIMM and FTR he is turning out to be the Bruce Berkowitz of 2012 he is doing horrible and I am getting exited. Happy times!

Cash	31.03%
mbi	12.17%
jef	11.56%
tscdy	9.26%
xco	8.22%
NFX	5.76%
BAC & AIG WS	4.49%
PEP	4.01%
sds	3.92%
anr	3.44%
sh	2.72%
aci	1.01%
OSTK	1.12%
RIMM	0.67%
FTR	0.62%