$?Bill in a ? Life mine, page-26386

The posts on the HCH board are, in general far too emotional.

I don't know about you guys and gals but I am trying to learn how to seriously actively invest (slow trade) markets to make good returns. I've been doing it for a long time now and I am just beginning to learn from my weaknesses.

The only person you are fighting in the market is yourself. There is always a bull market in something. For me now, HCH is not my ride. I sold out of GAL a couple of years ago and as soon as I did they hit something with the drill bit an I missed out on probably 6x or something ridiculous. That's fine. You lose mostly and you hope to win every now and then.

Let's say HCH 10x in the next couple of years. There will be scores of stocks that do the same in different sectors. There are many losers and winners on the ASX day to day, week to week, month to month, year to year.

The fact that I bought HCH at some stage is irrelevant to my investment decision today. Every day, on every stock I hold my decision is to buy, sell or hold. There are some stocks I am in that are lobster pots and I can't get out. Commsec wouldn't let me match the bid and drop the market price on an in-liquid stock option I wanted to get out of even when I spoke to them on the phone and now that stock is worthless when I could have retrieved just $1000. Them's the brakes of being retail.

IMHO the risk reward ratio on HCH versus other prospects is negative. We all understand that HCH is sitting on potentially big project with a lot going for it. But it is a big capex, low grade project that is not in the lowest cost quartile. It is trying to get there but I have been on that painful journey for a couple of years now and it is not going to re-rate soon unless it pulls a rabbit out of the hat. The project will get there but will shareholders realise any benefit this month, next month or in the next 24 months? Any upside at the moment is going to be considered as marginal IMHO whether that be drill results or new tenements. IMHO that means HCH is not well leverage to the price of copper.

Current or even better, near term producers may be better positioned to benefit from near term upside to the price of copper, if there is any given the recent run.

I was drunk when I posted that my net average holding cost was 20c on my small residual the other day. It was 25c. I went back and checked. But I've sold out completely last week, and I am drunk again because I had dinner with my Mum again tonight. There is a pattern there. Mum is my biggest critic and I manage all her money! So that means, in total return terms I didn't make much out of all my holding and trading in HCH.

Good luck to all. Copper is up at a resistance point and after this stellar run it may well retrace or go sideways. Nothing is straight upl