masterful the not, page-4

There are some shares which are keepers, and some which are not.

I sold my Lihir several months ago for $4 because I thought they were an accident waiting to happen.

I bought some a few weeks ago for 3.20. Sold them again this week for $3.92 because I had other things to do with the money.

I don't see a problem with this. I don't cause the gold price volatility. I don't cause the erratic performance of the mining and processing operation. Lihir doesn't follow my advice on their ridiculous off-again-on-again-off-again flip-flops over hedging methodology.

Sheesh if you a long term perseverant shareholder in this company your return over the years would be very mediocre indeed. After 12 years of mining one lousy 1c dividend ( they even printed "maiden dividend" on the cheque they were so proud of it - dunno how they did it, probably had to throw a virgin into the volcano ) No more dividends since. Maybe people starting to get excited about a second one.

There are some shares which are keepers, and some shares where you really can't say no to a 20% profit in three weeks, particularly in this crappy market and particularly when you can have very little confidence that the 20% profit will still be there next year.