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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@KristianSince most here don't invest in Australian companies, I'll mention Altura Mining $AJM for my 2016 top pick. Why? Soaring lithium prices + upcoming FS in 1st Q = Chinese bidding war. You've heard it from me. Check hot copper forum for good info and alturamining.com #lithium#contrarian
@NewtonYeah, @hihosilver -- who is taking #copper over #gold in this market eh? Especially for company named "Royal Gold"? The other options must have looked a lot worse... Unless they are making #contrarian play for copper here? LOL.
@Newton"But being a contrarian doesn't mean you found someone who disagrees with you. It's much harder and rarer than that. If you live in New York City, you are a contrarian in that most other people don't live in New York City, and would consider doing so a miserable prospect. But living in New York isn't at all contrarian. It's quite a popular thing to do within the confines of New York City, which makes it one of the most crowded, competitive, and expensive places in the world. Lots of people disagreeing with you isn't enough to call yourself a contrarian, because even a little support can make something popular enough to squeeze out opportunity. The same idea applies to investing." #Contrarian#Quotes#MorganHousel -- now if that doesn't sound like our special little community here, eh? I wonder if people here like to think of themselves as contrary or conventional? #poll#duh
@Newton"Contrarianism is the key to huge outperformance. But we should accept that not everyone can be a contrarian, by definition. Real contrarianism is painful. It's lonely. It hurts. It's when everyone thinks you're nuts. Real contrarianism doesn't happen when you buy a stock that fell 10%. It happens when your clients threaten to sue you for negligence, your friends stop calling, and your wife wishes you'd find a new career. It's buying shares of Valeant, or Theranos, today." #Contrarian#Quotes. Hang in there, it gets better.
@NewtonLove the whole "we are bad investors. We all are. Get over it." thing @allstarcharts. Interesting counterpoint to the "buyside needs momentum and relative strength" idea. Helps to have some sense of what other participants are doing. #contrarian
@MiningBookGuygreat specific points @Jayfire! btw, this is an important #contrarian point relative to discussion the index today (if any #lurkers here paying attention to both). For me, easily the BEST gains are PRE-DRILLING for the explorers...many of the reasons described by @Jayfire in his segment. People can argue all they want about this...but definitely keep in mind when people are talking about Warren Irwin and all the money he's made, that guys is a BIG-TIME fund manager with in-depth knowledge of mining/exploration (and likely a huge team to back him up). People like him (and people at ceo.ca with big money) are generally NOT going to do stuff like me. And one of the BIGGEST reasons is illiquidity in 'pre-drilling' juniors, and the inability to participate in private placements, etc.
there's a lot to this...but just wanted to mention this for #mbgtrends crowd without too many tags. important, somewhat subtle details that i'm sure will come up again in the coming years (and can be discussed more now if anyone interested).
@NewtonSo... a #copper discovery in a #uranium company seems funny to me. Something about adding more a new, unloved commodity to a company already full of an unloved commodity. Almost surprised the shares didnt sell down 10% on the news! That said, perfect #contrarian setup.
@MiningBookGuy@Alan - thanks for sharing the #RickRule interview! I especially liked the bit on #ThomasKaplan, and of course the various #contrarian views pointed out. I'll need to do a search to see if I can learn more about the Kaplan #MinesAndMoney interview.
As a sidenote - I don't fully agree with needing "A team, A deposit, etc." ...I actually think this is a HUGE point I will need to delve into in the near future, especially on "team vs. deposit vs. some other factors". In any case, this brief interview got me thinking, great use of ~4 minutes of my time! :)
@MiningBookGuy@Alan@bullmarketmove *sidenote - the funny thing is that I know Doug made the bulk of his fortune in the 90s from following this playbook, especially on Robert Friedland's Diamond Fields (I think). But that decade was soooo easy to make money following a variety of other strategies, even passive investing, especially focused throughout the US and Europe.
I strongly believe the next few years are going to be very, very hard for typical people. But these #contrarian strategies will easily be the #1 way to make and/or preserve money. So while this particular book was great for the 90s, the general ideas could be even more valuable now. #CrisisInvestingForTheRestofThe90s