$3 Party, page-117

I think your average price, Ash, is $1.00-odd, from memory. If Ash is averaging-up it's a bull call!! Anyone with a seven or eight year tenure in a stock and that type of on-paper profit doesn't deserve any disrespect that's for sure

@Exised I like BHP a lot but their income is predominantly coal and iron ore and that doesn't interest me much. I keep thinking the iron ore price is unsustainably high (but what would I know) but we're apparently entering the time of the year where the iron ore price is usually strong so BHP will likely do well. It's a terrific company. Their copper, nickel and potash operations are more to my liking though.

I bought a small S32 holding (about 3.5% portfolio weighting) a couple of years ago and chip away with more small buys every so often; when a tempting price comes along. Nothing silly. S32 is about 6.5% percent of my portfolio now. No intention of selling; and will buy a decent parcel if we hit $3.00. At some point the share graph will start tracking upwards and I am not good enough to predict when that will be. As of today, the only person profiting from my purchases has been my broker!




I always look at the Glencore share price when S32 is down heavily and usually find it is down as well. Alumina has been hit hard (partly due to stock-specific issues) but if one is positive on alumina/aluminium/bauxite, S32 is surely a better bet than AWC.

It's interesting to hear the finance pundits who were saying (at $3.80), "S32 is starting to look like good value and would be a 'buy' at $3.50" have either gone quiet, or are now talking about S32 being valued "in the low twos". They would likely say the economy has softened or stock-specific issues have arisen, but I find their commentary to be so reactionary rather than predictive. We're at two year lows and that just means I can buy more more shares for the usual amount I spend on parcels, my dividend will be higher, and I'll have more exposure to the turn-around.

Not financial advice. Just what I've been doing.