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lol. I'd like to think it's people recognizing value in the miners, but with my luck it's short covering (I still have a very small position in DWGOX, which - while down for the year - has actually done better than most in the category; it's largely Canadian names.)
I think it's tough - it sort of reminds me of the value discussion in the Nokia thread. The gold stocks are values. However, for whatever reason (people wanting gold instead of gold stocks, people doing trades of short gold stocks long gold, etc) it hasn't been realized. I do think that people have to spread their commodity bets around - in ag (more people on the planet, less ag land), energy and metals. I think whether it's Nokia or gold stocks, it's great to have a portion devoted to finding those values, but I wouldn't devote large portions to sectors or individual names where one has to be waiting around - possibly for ages - for value to be realized.
I own a real estate stock that is heavily in Greek resorts. That's deep value, but it's a small position - at 35 cents a share, it's a lottery ticket. I think the land itself is worth a lot more than 35 cents a share (book value is quite a bit higher), but whether or not that value is realized ... who knows.
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I like the 6.67% yield you receive while being sliced and diced. Good luck...pass the band aids please.
I think it's tough - it sort of reminds me of the value discussion in the Nokia thread. The gold stocks are values. However, for whatever reason (people wanting gold instead of gold stocks, people doing trades of short gold stocks long gold, etc) it hasn't been realized. I do think that people have to spread their commodity bets around - in ag (more people on the planet, less ag land), energy and metals. I think whether it's Nokia or gold stocks, it's great to have a portion devoted to finding those values, but I wouldn't devote large portions to sectors or individual names where one has to be waiting around - possibly for ages - for value to be realized.
I own a real estate stock that is heavily in Greek resorts. That's deep value, but it's a small position - at 35 cents a share, it's a lottery ticket. I think the land itself is worth a lot more than 35 cents a share (book value is quite a bit higher), but whether or not that value is realized ... who knows.