from penny darling to pretty ordinary, page-6

Robin8 asks: <>

Let me tell you a true story that may help you understand my 'investment philosphy':

Many years ago I was a Rural Officer employed by the ABC in Western Australia. To seach for stories to record for the 'Country Hour', I 'd phone Department of Agriculture staff in an area I was planning to visit and ask for leads.

One day I was told: "You should visit Joe Bloggs, he's doing very well with pigs and he usually tops the market."

So I interviewed Joe Bloggs and asked him: "How do you make money from pigs?"

His reply astonished me: "You make money from pigs by not trying to make money from pigs!

"Chaps who *try* to make money from pigs will see the market rising and will pay through the nose for fodder and breeding sows to get in on the bonanza.

"But when the time comes to sell their porkers the bottom has fallen out of the market due to all the other farmers (who jumped on the bandwagon) having porkers ready for sale at the same time.

"They sell their breeding stock for a pittance swearing *never* to be suckered by high prices again - until the next time.

"But if you pay reasonable prices to set yourself up in pigs, not to make money, but to turn off a steady and reliable supply of quality porkers (year in and year out no matter how the market behaves) the butchers will hold you in high esteem and know they can safely pay top dollar (within prevailing market prices) as their cut-out percentage will stay constant and predictable year in and year out."

So the answer to your question about Jervois is:

Don't worry about making money from Jervois. Enjoy being part of providing a reliable supply of nickel to China and the outcome will take care of itself.

Motto: "He profits most who servest best!"