Loading ...Perspective
in 2011 (less than 4 years ago) GDXJ was flirting with 150
NOW we get all excited if it goes from 21 to 25!
Same index…no decay…this is real numbers
There has been some change in the make up of the GDXJ of course
because some of the components in it at 150 have gone out of business .
ANV SGR GBG for example
Look at all these double bottoms…will this Be another ?
Allied Nevada Gold is a good example of why one would choose to buy shares in an ETF instead of a company. This company was trading at $45 at its 2011 peak. If you owned it and held it, you were hung out to dry with no chance of ever getting your money back. If you had instead owned GDXJ, you would have taken a huge hit, but you will likely make your money back if you hold onto it for the long haul. ETFs are not ideal investments, but they can pretty much eliminate the prospect of losing everything in a corporate bankruptcy. Just my two cents. Thanks for that perspective. I think we go a bit lower from here and then we buy a bunch of shares at the Bottomz Inn. However I was looking at McEwen Mining which is a pretty cheap junior. The CEO founded Goldcorp and has a good reputation. Also he owns a quarter of the company’s shares and doesn’t take a salary as the CEO. This shows that his interests are about as aligned as they can be with the common shareholder. It might be a gamble but this company could be potentially a huge payoff if I can get into it at the bottom. Still debating but I’ll reevaluate the situation when the time to buy is closer.
My favorite for the future is Claude Resources…CRJ.T
Actually FGC, only one of these “double bottoms” is a “correct” double bottom 🙂