Hi all, Posted to CCU and IAU for obvious reasons.I was watching...

Hi all,

Posted to CCU and IAU for obvious reasons.

I was watching the progress of CCU and IAU very closely as I had decided that having a reasonably handsome collection of physical Gold and Silver it was time for a foray into the producers.

I decided that both of these mining prospects looked a reasonable punt and was about to split my available cash and take a holding in both companies. However, as I had watched IAU take a severe kicking in the market I thought they could not go much lower and went all in on IAU. WRONG!

I had thought I had done my homework on both of these companies’ great resources and sound management I read all the announcements and followed progress for several weeks before deploying my capital. I know not what more an investor can do once he / she has looked at all the fundamentals.

Possibly some light into my state of mind for my choice of mining equities can be found in the last three minutes of the Hugh Hendry clip linked below.

http://www.youtube.com/watch?feature=player_embedded&v=uaoVg7SC8b0

I no longer have interest financial or otherwise in IAU or CCU; however, current holders of both have my particular commiserations.

Currently I have one gold producer in my SMSF but am considering selling out and as the poker players say go all in with physical as I am sure I will sleep sounder!

When I reconsider why I own physical Gold and Silver currently I wonder if I should put much faith in my fellow man whether he be a mining company executive, central banker or politician.

Just my thoughts past along in good faith and of course as always you must do your own full and due diligence before deploying your hard earned over taxed capital, possibly a brief consultation with your local psychiatrist will also be worthwhile!

Cheers all and very best regards: Andy