JR's continue to lag the mid and large Cap PM's
posted on
Jun 01, 2010 12:21PM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Hi all,
I do not have many JPM's in the green as we get this morning on the go (Go UC. I bought way to much of that a couple of weeks ago) JPM's continue to lag and still have over all not moved too much off the lows 2008 had created. Confesion - If the JPM sector does not make a run in the next decade I will have burnt a lot of time in my efforts to make a nest egg for the later years. LOL......
I have to spout a bit this morning. I am so cheesed off with my friends and my wifes employer - Royal Bank. About 4 weeks ago I asked my wife to transfer 400 shares of RY out of her RESOP account to her Registered trading account. They still have not completed the transaction. Something got lost some where (F Me). If this transaction would have happened in a timely manner she would have sold somewhere between $60-$62 and bought into Silvercorp somewhere around $6.75 - $7.00. Mean while she currently sits with about 90% of retirement savings in RY. Of course 95% of the people she has worked with over the years are all sitting like that and see nothing wrong with that picture. Don't even want to start in with getting Silver Maples through Royal Bank...
Friends - Golf Course - Intelegent People Having Investment Conversations (not likely). The guys I was golfing with range from a Director of Manufacturing to a Money Manager. These are very intelegent men. Even the Money Manager could not agree with what I feel is the true relation between creating money out of thin air and what it really does to the value to of the dollars already in existance. The relation between money creation (inflation) and continued increase in sovereign debt is really an area where they all agreed with eachother that I was blowing the severity way out of proportion. They quoted many mainstream guys they had seen on BNN and CNBC etc... When I started to speak about gold & silver supresion and all the players there, that is when they really looked at me as if I was off my block. I will say however that the Money Manager did express his concern about derivatives and what roll they played in the housing bubble. I told him to read the book "The Big Short" then get back to me. (I finished listening to it this weekend so I wouldn't be ignorant if he actually does) I get the feeling that we are still early in the gold and silver bull cycle. There is still a pile of ignorance and trust in the government where I live. Most of what I had to say was really foreign to these guys. Needless to say I was the only one who actually owns physical gold and silver (and not near enough of it I hate to admit).
Sorry for the lengthy personal rant. I just found myself this morning feeling like I was on an island by my self and looking for people who would listen and can speak the same language. Again, sorry for the rant, won't do this again for a long time...
Deno G.