Re: Ganalane / Cramer book - what were worthwhile bits?
in response to
by
posted on
Mar 19, 2008 11:13PM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
My style is to pick weird, offbeat stuff (which could even includes KXL, to me) and then to stick with it. I have done 10k trades in a year but I prefer to trade something once in 3 months or 6 months. I'm underwater about $250k on KXL and I don't care. Okay, I care a bit, but I'm past that. I'm not judging by the next NR either, or the one after that, or the one after that. I care about the long term. I care about the fundamentals and overall timing, longish-term (although I am at the opposite end of the scale from Efficient Markets - such a person could never hold KXL!).
I liked what PaulTiger (I think) said - "fade the crowd" or the herd or whatever. Buy what people hate. Exploration juniors are NOT popular now, and that is exactly when to have them.
Knock on wood.
I do need to learn more about trading the medium-short term. I have had some discipline developing - high=sell, and low=buy. I bought today. I'm still affected, though, if on the first day or two, the markets go against me. I'm a buddhist - I let it wash over me.
Also, my biggest mistake is that I tend to be way far ahead of time on the secular market trends. I bet on subprime collapse starting last Spring (07). It was a long, long, long, painful wait until now. I kept thinking "what the hell?" - how could the market not see it was heading over a cliff?
Hard lessons.
The KXL board is my favourite. People are thinking, and they seem pretty real.
I like options, foreign bonds and anything off the main track because most people don't do it. I'm working on nailing down the RMB in the Singapore nondeliverable market. But, I know damn well that I am a psychological creature, same as everyone else. It's hard to have lonely positions and wait for everyone else.
Your style?