Then what are you doing on the Venture, the riskiest market of them all?
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This is my only investment on the Venture.
I got pulled into this story because it seemed to be such an unbelievable opportunity (Teck back in, Salazar, District, negative copper) and virtually a sure thing, so I invested WAY more than I should have. I got greedy and with all the talk about meeting in Vegas when we are rich and the high buyout expectations I let my guard down and went in hook, line and sinker.
I am not a trader, I usually buy and hold and that was my mistake here, should have got out on the FS release. But I held on thinking that at least in 4 months the Salazar would come into effect and Teck wouldn't want to let the project go.
When the Salazar was abandoned, should have got out there too, but hindsight is 20/20...
I finally sold a third of my investment (20k @ 22 cents) thinking I could buy back in cheaper. Last week I instead put that cash in Teck @ 6.72. So far its been a good move, and fits my comfort level.
I will likely pull another 20k out on the next run up, which I hope to see soon. Lots of lessons learned, but I do hope for a positive outcome for everyone. I just see it as still very risky going forward personally (but still could give a great return, especially from here).
FYI, I don't hold any govt bonds, most of my portfolio is either blue chip or medium risk/mutual funds. GLTA.
