clarification needed, page-10

I don't hold any at the mo and generally make very good returns year in year out by backing small companies that have solid management, drilling options and are cashflow positive. Most of it though it is the management that I back.

At the mo I am holding mainly CVN, SAE and STX. I can get 100% a year out of companies like these three so normally don't have to risk much to get good returns. I'm always looking for the next one that will run but like to check it out fully first. Yes you do lose some of the upside but have made great $ in the past with little downside.

Keen to see if anybody can post intelligent answers to my questions rather than just say that the market is a gamble. When you play it right nothing is a gamble - its a calculated risk where you have limited the downside!