Mrs Wilcox, welcome aboard! Does your husband know that you post with that pic?
Okay, about diversification. There are three variables: 1) Your Goal, 2) Your investment capital, and 3) Risk.
I know that you started with $30,000 and used it all on Noront (buying 5,000 shares). If your goal is to at least triple your money, then it was a risky play, perhaps too risky. However, if you are only trying to double your money, then it was a good play. I'm pretty sure we will see $12.
Anyone who invests all of their extra cash into a speculation stock is a risk taker looking for big gains. Well, welcome to the club. Most of us here fit that category.
I invest all of my money in mining stocks (primarily gold and silver). From that perspective, most people do not consider me diversified. However, I BELIEVE that gold is going to $2000. Thus, I feel it is the only place to be. I diversify by adding stocks to my portfolio.
If you can scrounge more investment capital, this will allow you to diversify. The more stocks you add to your portfolio, the better off you will be. Interestingly you bought 5,000 shares of Noront. That is usually the number of shares I begin with for a stock. If you can find a good stock at .50 cents, that only requires $2,500. Many of the .50 cent stocks will go to $5 when gold explodes to $2000.
If I were you I would not add to my position in Noront. I also would not buy any of the area plays (although I own three). It is amazing how cheap many junior mining stock are. You can begin expanding your portfolio with very little captital. If you pay attention to what people around here are buying you can get great plays. Look here for stock recommendations from this group (http://www.agoracom.com/ir/grizzly/o... ).
I admire your guts. If I was starting out with $30,000, there is no way I would buy one stock. Instead, I would purchase 5-7 juniors, all selling from .25 cents to $1.50, with market caps from $25 million to $150 million. Whereas, you may get a triple and NOT will hit $18, these 5-7 juniors have an excellent chance of becoming 5 baggers -- if gold and silver go as high as I think.
What is the better play, 5-7 juniors or Noront at $6? Who's to say? However, I think most people would agree that 5-7 juniors and Noront is the best play. So, start saving your money and add a few juniors!
Thanks,
NewAger23
