Ann: Half Yearly Report and Accounts, page-106

Hi Spec,

I will eventually add GMD and BGL to the table.
As for the rest I am pretty happy to just keep the list as small as possible.

Best alpha stocks?
Ironically it will always be the lowest margin producers that achieve the largest percentage gains.
RSG, CAI and SBM would have to be up there if one was willing to gamble on gold continuing its rally.
Personally, I'd rather take the safer route.

Like I mentioned to you a couple of weeks back, I'm slowly converting my portfolio from mostly producers into the more speculative explorer space.
That is where I believe we will see the most extreme levels of alpha.


Producers 5-day performance (note only 3 had gains above 20% compared to the explorer group which had 7 above 20%)




Explorers 5-day performance