On Sept 1, 2009 I fell off a ladder fracturing most of my ribs, puncturing my right lung and breaking my back...I was hospitalized for 6 weeks. Interestingly I didn't loose interest in Gold during my recovery and with the help of my wife, Jackie, managed to execute a number of trades during late Sept. and Oct. 2009. I ended 2009 with my portfolio worth about $160K.
Unfortunately I forgot how to post to this blog and wasn't able to figure it out until today, Sept. 18, 2010.
Saturday, September 18, 2010
Gold is Good
Since August 26th I have eliminated a $35K margin position by selling $100K worth of precious metals related stock investments into a gold bouillon rally that started late July, 2010, with gold @ $1,160/oz & my portfolio @ $180K. Today, September 17, 2010, Bullion is at $1,278 (up 10.2%) while my portfolio is worth $247K.
My portfolio, by the grace of God, is up 122% since Feb. 5th, 2009 for which I am grateful, but I cannot claim any great prowess since the Dynamic Precious Metals Fund is up 130% over the same interval. In other words I would have been 8% richer had I simply entrusted my capital to this professional management team .... but then, I would not have had nearly as much fun!
My major holdings are Cash: $63K, New Gold Warrants ($67.6K MV), Victoria Gold ($36K), Franco Nevada Warrants 20.1K, Agnico-Eagle Warrants $23K and ECU Silver Wts. $14.6K. New Gold and Victoria look especially promising as longer term holds.
This summer I've taken new exploratory positions in Petroamerica Oil corp. Warrants and Takara Resources inc.
If this rally continues, I plan to sell Franco Nevada and smaller portions of my other holdings, increasing cash to perhaps $100K.
My portfolio, by the grace of God, is up 122% since Feb. 5th, 2009 for which I am grateful, but I cannot claim any great prowess since the Dynamic Precious Metals Fund is up 130% over the same interval. In other words I would have been 8% richer had I simply entrusted my capital to this professional management team .... but then, I would not have had nearly as much fun!
My major holdings are Cash: $63K, New Gold Warrants ($67.6K MV), Victoria Gold ($36K), Franco Nevada Warrants 20.1K, Agnico-Eagle Warrants $23K and ECU Silver Wts. $14.6K. New Gold and Victoria look especially promising as longer term holds.
This summer I've taken new exploratory positions in Petroamerica Oil corp. Warrants and Takara Resources inc.
If this rally continues, I plan to sell Franco Nevada and smaller portions of my other holdings, increasing cash to perhaps $100K.
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