History lesson..
posted on
Aug 02, 2012 11:28AM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
Years ago when I was making more money than was good for me I let my bank people talk me into hiring them to look after my money...
At the time i was concerned ,that after years of doing my own trading and before the dot com bubble burst I was reasonably successful..early retiree and concerned that if I passed on to thee great bung hole in the sky ,there would be someone to look after my financial well being..at least my wife and family..now grown and gone..
So I took a whack of cash and set up some self directed RRIF's,for my wife and I ,with the understanding that this very intelligent ..great knowledgeable Bank rep would make me wealthy beyond my wildest dreams..
I would only interfere if i thought my best interests were being neglected..
Long story short...my wealth was soon frittered away with excessive trading fees,,..stock losses that were excessive so I took back my rights to do my own trading and today look like a genius in my stock picks that we bought together...
When he had control he would always have a whack of data ..the latest analysis and all the forecasts..
One of our early buys was IPL.UN....a Canadian Alberta pipeline..
We started buying at 9 bucks..2000 units I think..
At $12.00 he wanted me to sell and move into some other airy fairy yuppy wonder stock but I stopped it ..held it and applied the DRIP function to the stock..
The share price this morning is $21.36..the divvy is $1.05 /yr /unit and the original 2000 is 4314 units..
So if you have any stocks that can drip...it is a wonderful way to make more money.,apply the DRIP.
I have been looking after my own accounts for years now and can tell you ..no one will look after your money like you will...and if you loose..blame no one but your self..and if you win tell others so that it will help them with their ability to do it too..
So just a little history of some success I have had over the years..
Most of my losses have been not knowing when to sell and watching the share price fritter away to nothing..
Hanging on to dreams is a great way to get burnt...
KONOR must be having that feeling and experienced it too..
PDG at $2.00 would be a sell for me..
although I bought 30,000 share at $2.70 I have averaged down to make a $2.00 sell over all profitable..although I would love $10.00 ..who wouldn't..
Portee