Ann: West Arunta Project - Luni MRE, page-302

absolutely correct CSM. Most speccies will never do anything. Some will burn brightly for a moment then fade into nothingness but only a few will go on to greater glory. The trick to making money is not going from forum to forum highlighting the risks of any given stock but rather to do a risk assessment on any potential winners and ride them but with a willingness to change direction instantly if the fundamental story changes significantly.

The problem with some posters is that they mix their considerable knowledge with a cognitive bias. Their posts are more to do with how they see the world as a whole rather than the merits of any given stock. On the other side of the coin, I am also somewhat repulsed by the fan bois who feel they need to personally abuse anyone who comes on with a negative opinion. If we chase all those posters away, we end up with a mutual admiration society, back slapping and high fiving each other and convincing ourselves (in the absence of any contrary argument) that our stock is going to a 1,000 bucks a share and then we end up bemused when it doesn't. I have been on WA1 since just below $1.50 and never sold or traded a share. I once got accused of having a hidden agenda because I ONLY had a price target between $33 and $50 and not $125

If WA1 had little or no risk, and not lots of risk a year ago, we would not call it WA1....we would call it BHP. Nothing wrong with holding some of The Big Australian in your portfolio but it is not a path to becoming wealthy through the stock market. I would rather climb the proverbial wall of worry with a stock like WA1 whilst continually reassessing risk as we go along.