Aurelian Resources Was Stolen By Kinross and Management But Will Not Be Forgotten

The company whose shareholders were better than its management

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Message: building wealth

building wealth

posted on Apr 18, 2008 01:12PM

I have made a few lighthearted comments in the face of the bad news today.

So have a few others. Laughter is often the best medicine.

I do feel bad for those who have maybe gone too heavy in this investment.

I wanted to share something about building wealth with some of you who may be feeling very low.

I read an article on yahoo finance a few months ago about the traits of very successful people. The one that stuck in my mind was their patience with an investment.

I owned a very successful private business but was always concerned about all my eggs in one basket and was always wanting to monetize a portion of my shares.

in 1999 I was trying to get x for my shares but we couldnt make a deal.

in 2002 I was offered 10 times x for my shares but the deal had too many strings.

we almost sold in 2006 for 30 times x but the purchaser walked away.

in 2007 we actually sold and I received 58 times what I would have sold for in 1999 only eight years earlier.

I wasn't smart or possessing of great wisdom. I was the one trying to hit the sell button back in 1999 to get what I thought was good return.

It was good fortune that makes a private business hard to sell and therefore the passage of time (Patience) greatly increased my return.

The point I learned is, its very easy with publically traded stock to hit the sell button and decide to cut losses and move on but patience is what caan bring stellar returns.

I think it would be a mistake to unload now when we (and ARU management) dont know enough to make a sell decision.

Time will bring clarity. maybe we will need to sell prior to a buy out, but I dont think now is the time as it would be an uninformed decision.

Lets hope over the next week or so we can get some better answers.

Time will build experience for our management as well. hoepfully they are betteer prepared for the next so called crisis

Good luck to all and I hoep you all have a great weekend

Now I'm off to the UFC in Montreal to watch some asskicking. I may just sucker punch somene at the airport!!!!!

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