Let me explain my point on 'selling if not happy' - if you will it is a personal view. The world is a wonderful place, family, friends, experiences - scenery, food, cars, sport etc etc what ever takes your fancy and gives you pleasure or satisfaction.
Holding a balanced portfolio over a few accounts I view companies as something I can buy and sell or buy and hold to make a profit. If they take a direction I don't like or too many mishaps occur then I usually sell and move on.
I did this with NAV at about 16c, had believed and then saw relentless insider selling (on no news against the trend in the market) I could not explain and so I sold and moved on because I was not happy - life is short as soon as I sold (at a loss) I moved on and quickly made the money back. I did not stay and fight no point.
Ditto IAU recently the management took a hit via a partner in Indonesia, then a wealthy local got in cheap etc - which hammered home the sovereign risk aspect and so I sold (at a loss) and moved on. Did I want to stay there and fight and argue as I had that right - hell no I am just a shareholder so not that attached.
Many gold stocks out there that are going to benefit from gold and the Chinese and others wanting it. If I am unhappy with one I don't want to stay and fight it - what is the point? I own a small stake relatively in more than a dozen stocks. I am 55 years of age and have lived through business that did not work out and some that did. I have learned to walk away and not stress as much these days. I have learned to be diversified and to be flexible.
If I was unhappy with SGG or FML I would sell and move on - enjoy life I say there are some things worth fighting about but not that many in the end. I fight for freedom, family, love and honesty and my human rights.
This is what I was talking about without a full explanation. Just a personal philosophy that has saved me a fair bit of angst the past 10 years or more since I worked that out. But do it your way, it is your right to object so not my call. FYI that is why DT put it to you all that way - so you had your say.
CW DYOR&DD
FML Price at posting:
3.7¢ Sentiment: LT Buy Disclosure: Held
