Gold, page-2427

I think I should qualify from earlier posts that LT investing has different time scale to different people. Previously as a cock eyed investor, I define LT hold as buy then wait until something tells me to sell. Usually that means the pain of looking at a massive drawdown after cursing at giving away all the gains. Having gained a bit more disciplined and not trying to pick tops and bottom, I set a target and either that target is met or my target trail stops are hit. This may take 3 months 0r 1 year. That is my new definition of a LT hold.

So in this context, trying to pick a bottom in gold = a reversal in gold stocks generally is beyond my horizon of holding period I suspect. Eventually gold will come full circle, just a matter of time. If what I have been reading is correct I don't have a lost decade stuck in big positions in this metal. For the same reason I have been thinking very cautiously at BHP/RIO. The heart says a good accumulation provided I can bear the pains of potential draw downs that can last a long time.

In terms of the psychology, I am not the type of investor who is able to buy the trough and sell the peaks. I will try to profits somewhere in the middle. I'll leave the exploitation of full profits to the Pros.

If you have a full investing life ahead of you then your approach is probably the better one.

Remember there is no such thing as a right or wrong way to invest, just a lower or higher risk. Leave it to Skol to claim the ultimate price of being RIGHT. Good luck with your investments.