Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : How I spent MINE money:the SI Millionaires Club -- Ignore unavailable to you. Want to Upgrade?

To: SOROS who wrote (23)	5/24/1998 1:21:00 PM
From: Mike McFarland	Read Replies (1) \| Respond to of 73

The gold is there, the questions are ones of risk and reward. The easy money is on the run up to a buck for this stock, the hard money was made by the folks who had the guts to hold MINE after the report was late. I did not have the courage/foolhardiness to stay in and missed the run from 14 cents to the point where I got in Friday (3/8ths). I suspect that the delay allowed a few more folks to get in, just as more risk-averse speculators like myself were getting out. So, hopefully the run to a buck is easy money, then as the mine ramps up there are the real investors who ride it from a buck to five bucks. Now back to the topic of this thread: When you get that portfolio up to the magic number, whacha going to do with the money? MINE is not going to make me rich, probably. I was only able to get back in to the tune of 30,000 shares--but I do think it has a reasonable chance of making me a quick ten or twenty grand. If not, next idea, I move on. I need to repeat this about five times a year for the next ten years. At that point my winners and losers should add up to fifty grand a year. When I've make 1/2M I will quit my job and move on with an entirely different life, which will include a lot more time backpacking and skiing and gardening. It helps to have incentive. I work a F*?@D-up rotating shift that will eventually kill me, or at least take a dozen years off of my life, so by God, I sure hope this sucker takes off like a rocket. If not, like I said, I've got plenty of ideas. So far I've make my fifty grand this year, and am working on next years goal--maybe I can shorten the time span to reach my goal. Oh, I should add that the interest on half a million after taxes is not really a lot, so that means I will not be living too high on the hog. But I'm pretty frugal--although I suppose I'll finally be on new skis by the time my ship comes in! Anyway, point to the story, I'd say you could load up on MINE, but I think it is a prudent method to just set a goal, and work it ten grand at a time. The risk of an idea blowing up in your face is just too high to throw it all into one idea. Peter Lynch always said that--the object of the game is to not lose right? I think that was him. good luck all!