Hi all,
I must confess that since the dot com bubble days I have always looked for value.
The dot com days were fertile learning grounds for a late 20’s Joe Shmuck like me. I ate all the dung heaps and lies thrown my way by main street media etc.. I made a pile of dollars and lost a pile of dollars. Greed was a part of it but mainly, rather than using reason and logic as a part of my decision base I followed the heard. I thought how can the majority be wrong???? It was not till after the fact that I realized that the heard was being led by people that did not and never will have the herd’s best interest at heart. If the housing/credit bubble scenario was not enough to further install that fact in us then I truly feel sorry for those who don’t get it.
Now, after many years of holding stocks like ECU, EXN, CPN, XRC, SVM and preaching the value of physical metals which I do not own enough of, those who followed me (family mainly) are now calling me a bag holder, that I should have figured out that there is good reason for the shares not following the price of the metals. That in-ground ounces have very little value. Mind you, they can’t tell me what that reason is or what the value of in-ground ounces should be….
So again I sit here bewildered as to why would the value of the shares of such companies be so much lower and the fundamentals be so much better than say 4 years ago? Why has main street called a top in gold and silver for literally years. Now the calls are even louder and mor efrequent than ever when all fundamentals (aside from technical charts maybe) are stronger than ever? Well, logic tells me now that the value is still in this sector, the heard is again desperately being led away from and parted from real wealth.
I will not follow that path again. If I die a poor man it will only be financially and definitely not because I followed the herd. It will be because rhyme, reason and logic were not meant to prevail before I go.
A further confession, I am all in as of yesterday and I own way to many shares of ECU. But I am OK with that. I would rather be 6 years early than 6 days late!!!!
Deno G.
