MML Near mine exploration success, page-4

GH2

Sorry to disappoint you but I am just a retired baby boomer playing in the ASXCasino with my SMSF money hoping to emulate Buffett, but not having the 50+ years he had investing in the stockmarket.

I got interested in the 1970s booming mining sector and gold in the run up to its top in 1980 but had no money with which to speculate due to family commitments etc. The 10k+ posts is due to my hotcopper membership since July 2006 and extensive interest in speculating in a fairly risky sector where timing is crucial to success. There have been plenty of heart stopping moments, losses and gains, with my best luck coming from being fully in the gold sector from early 2015 (was buying in late 2014).

To be honest, I have probably missed the best move in this round by not buying the good goldies last October (ie SBM, EVN, SAR, RRL, perhaps OGC ; - NST still looked too expensive) when they were near their lows - I actually had some bids in but kept lowering them as I thought the low for the goldies would come in December like it had in the previous 3-4 years. So I have scrambled to buy the woofers or near woofers like MML. I am not really comfortable with my portfolio of RSG (by far my largest holding), DCN, AQG, RMS, MOY, MML, WGX, WAF, TRY, MSR (TRY and MSR are pretty small punts). This is a high risk group, which needs to be traded rather than held IMO, so I also hold a lot of cash and may not deploy the reserve funds like I generally do. WGX in particular could really bomb out given the way they have been bleeding cash.

I have little confidence in where the USD gold price could be heading, but I feel that the AUD could come crashing down this year to 65 cents or lower so I now have a preference for Oz based goldies. The USD gold price usually peaks out around Chinese new year and then unless there are other favourable factors it tends to decline into the second half of the year.

Given my age I am not sure what, if anything, I can still remember from my tertiary studies in economics, accounting and finance - perhaps its not all lost yet, but its mostly forgotten - when I do my speculation. And no, I have never worked in the finance sector - wish I had as I am sure my bank balance would now look much better.

Good luck in your 2019 speculation.

loki