Loading ...Kirkland Lake
I’m usually wrong about everything regarding stocks, so I picked a big gold company for my play and discarded all the little non-producers, tiny producers and exploration stocks. One of those can make you rich, but the risk is that your portfolio slowly gets eaten up before that ever happens. KL is only getting bigger and better. I’m not a chartist, but could somebody like Fully, if you’re interested, chart what seems to be a coming explosion in this stock to the upside. I don’t see a whole lot of risk with KL, so I’m holding it long term no matter what.
You should see all the dumb errors I’ve made! You should see how much money I’ve lost on some of them! I can be so stupid and usually am! One should think many times before paying any attention to me.
Nevertheless–
I do like KL. It is one of my larger holdings. I have owned it since before dinosaurs evolved, and bought a bit more pretty recently. However maybe it’s good to own some other things? How do we know we don’t get blindsided? Maybe there’s some hidden fraud? (I once just loved Enron. I owned it for a while, but then I didn’t like its chart, sold calls, then sold the stock. I thought I was stupid since it was such a great company. It can happen with great companies.)
But what about some others–diversification? Royalty companies, medium-sized or larger, can make big mistakes and can be pricey, but they do a lot of your work for you, and take on some of the risk. It’s a way of diversifying, sort of. As for producers, unfortunately, the smaller the producer, the more research you probably need to do, but diversification into several smaller ones can be good if you have time and energy for the research and the ability for the risk even if venturing into getting a bunch of explorecos is inappropriate.
It’s just my memory of having been so confident of Enron is about like my current confidence with KL. Sorry, but I remember being stupid so much I am scared when I feel good about anything the way I feel good about KL.