Tough few weeks- With gold and silver rollercoaster-
My super gold/silver miner concentrated portfolio took a 15% hit!
Yup that is what happens when you have a concentrated portfolios with junior miners-
However, I did expect a wild ride- It’s just more violent than expected.
I am below 10% cash, as I though 3-4% declines would recover in few days but I was wrong-
Still I know I can hold on for the longer term, waiting gold/silver price to rise and then gold/silver miners to rise-
So patience is the game- And thank God that I have additional funds and a job- So I can hold on-
Lesson? Always have cash and a job-
I can’t even imagine the investors or managers who have large positions in gold/silver miners….ouch-
Thank Jesus for my job and other income as well (although very small, prosper and fundrise).
Back to my portfolio, I plan to ride out silver/gold mining- I may swing trade a bit but only if the market sort of settles-
Won’t be surprised if silver/gold miners drop another 10% from here, then I will be loading up the truck. Some money
in the bank earning minimal interest will come in for sure.
So still very long silver/gold miners. I am long Hecla Mining (HL), First Majestic Silver (AG), Mag silver (MAG)-
I also have positions on housing REITs (BRG, BRT, and IRT), which are doing fine. Wish I had put more money there but
oh well- mining had better risk/reward-
Won’t panic but just ride it out-
Rejoice at all times. Pray without ceasing. Give thanks in every circumstance, for this is God’s will for you in Christ Jesus.
1 Thessalonians 5: 16-18
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