Yesterday, in my role as chairman, I updated my stock picking club (Hys and Lows) members on the performance – or rather the non-performance- of our portfolio of junior mining stocks. Last time I wrote about it, I said:
“For the last 24 months, reality has bitten. Themarket has put us firmly back in our place while lustily kicking our butts downthe sidewalk, up the alley and into the back yard. Year-to-date our portfoliois down 26% and, tellingly, 22 out of 25 stocks we picked are in the red. To befair on us, this is a reflection largely of the “nobody gives a fuck” state ofthe resource sector which is veering dangerously close to a 10-year low.”
Well, October’s now come and gone and there’s been precious little change in the dismal status of our 25 picks. In fact, it’s worse. After last month’s “gain”, and I use the word gain to describe a state of losing-slightly-less, our portfolio has dropped back below a 30% loss, ending the month nearly 32% down. From the basement to the cesspit.
Only 2 stocks remain ahead of where they started. My pick, Evrim, is still way out in front with a gain of 171% making me the clear leader and on track for a free steak dinner in January.
And a reminder is warranted that the club is made up of 25 industry insiders, bankers, brokers, geologists, journalists and the like, who are supposed to know roughly what they’re doing. Ha ha… oh stop it…
For what it’s worth here’s the portfolio we picked. No member names included and this isn’t an investment advice service. Heaven forbid you invest in any of these dogs based on this year’s performance. Woof.
And that ends October installment of my 2018 riches-to-rags tale. There’s only a couple of months left for the rest of the sorry companies in the table to rally and knock my pick, Evrim, off its lofty 16-ounce steak perch. Rest assured my colleagues in the club can’t wait for the day that my insufferable monthly gloating comes to a grinding halt.
A quick post-publication PS from my buddy Brent, who says “Heads up, EVM is drilling now and we know how that usually ends! I remain long tho.”
Thanks for the dose of reality Brent. Really. Much appreciated.
I am sure it will all turn out well. But who picked the dog Trimetals. Fire him.