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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
@MiningBookGuyFollow-up post for @TheNextBigRush / multi-bagger discussion:
2. Honestly, when I was just thinking of mentioning that 10-baggers = 900% return on Fabi's youtube page, I did 'doubt' myself, because many people still think 10-bagger = 1000%.
This is a 'broader' comment...but this type of 'doubt' hits me ALL THE TIME, and probably you guys too. There are many things in investing/speculating that are believed to be 'common knowledge', that are just plain wrong, or more subjective than they seem on the surface. I just thought I'd bring this up as a discussion point, because it's really, really important to take a #contrarian mindset, whether you are making decisions on buying/selling stocks, or just researching things at ceo.ca and 'buying into' the ideas of other people on this site (like me!).
It's a constant struggle to stay 'independent minded'...but I think it's key to long-term success here. This thought goes way beyond discussing #multibaggers ...but it was an important one that crossed my mind, and I thought it was worth sharing, especially for #mbgtrends followers and #newbies
@MiningBookGuy@KevinS RE: https://ceo.ca/mbgtrends?f30f3ef0ceaa - thanks for sharing! like @FundamentalAnalysis, I never visited this site (though recently started seeing articles being shared). I will be checking on a regular basis. #TheMacroTourist
Specific to this article, it was funny and I LOVED this quote (*Note - I'm horrible at bbq'ng! :P ):
"My delusions about my mad bbq’ng skills are similar to everyone’s belief they are contrarians. Whether it is the NYSE specialist, the Chicago pit local, the Bay Street equity trader, the London credit specialist, or even the guy at home trading in his underwear, we are all consumed by these romantic narratives where we bravely battle the naive masses to nail the next great trade. But the reality is that we can’t all be contrarians. If we were, then it wouldn’t be contrarian…" #Contrarian
Yes, #Grains sound interesting. On the other hand, he gets into #the1970s#inflation logic as a reason for this at the end of his article. How could he completely be missing #mining, let alone #exploration?? Anyway, this is no different from most 'macro tourists'...i think most of them want QUICK plays where they can add a lot of leverage and HUGE liquidity. lucky for us, liquidity is not too much of an issue, things can happen quickly here as well, and 'additional' leverage this is completely unnecessary in the junior space for big gains. Someday, #junior#mining will likely be part of a post in #TheMacroTourist and similar #macro themed blogs! #mbgtrends