[youtube:http://www.youtube.com/watch?v=T1I5n2-ro_Q 450 300]
Within a short number of years and certainly within the decade, we here at iBC will have created our own language from whole cloth, and the only people who will understand a word we are saying will be the slavish few who have hung on here for every nuanced phrasing and reworked 70’s-era cartoon-network pop cultural reference.
In future, iBC particpants will not seek to purchase the equity receipts of a heavily shorted security in order to force immediate re-purchase by said short sellers, but instead one will “GO HAM” on said equity receipts and save time and exertion associated with over-verbose description for other tasks.
As well, one will never speak of aforesaid unfortunate short sellers as “portfolio damaged,” or “margin overburdened,” or even “equity depleted” participants in these volatile markets but rather as members of the investment community who, good character not withstanding, have been “GRAPED,” and left for corpse-pilfering on the side of the lonely road.
Brevity being the soul of wit, such gradual neologistic replacement will not only render these fora more humorous (sic), but also far wealthier in the end. Hang on for the ride.
Today was the best day of the year for me thus far, and it’s been a pretty good year thus far. For one thing, all my precious metal positions went HAM on me today, with most breaking the 5% barrier and some flirting with 10% (like SSRI, ANV and IAG). Moreover, my two big rare-earth metal plays, QRM and AVL were also up big at over 7% and over 10%, respectively. Unfortunatley I wasn’t fully invested, having kept quite a bit of cash on the sideline for “opportunities,” and also having sold my AGQ and NUGT just yesterday to reduce leverage and risk.
I’m not as bent out of shape about that as you might think however. I still returned over 4.2% today, and now I do have dry powder with which to pick off new targets.
Some of those will be additional pickups of the “Samurai Seven,” of which only two are currently precious metal picks —AG (+13.4%) and RGLD (+6.7%). Nevertheless the full portfolio is up 11.1% since inception, and that’s despite two relative laggards in the short list portfolio.
As for the winners in the Seven, I am really enjoying this 28+% run in PBR since the start of 2012, and kicking myself for not making it my “Stock of the Year” pick. I am also well pleased with the double digit returns of DE (+13.5%) and MON (+16.5%) since our entry.
The two Samurai I shall be gobbling tomorrow, double-ham fisted, however, are my two laggards, UPS (+3.3%) and COP (-4.0%). Both have nice dividends and UPS is finally creeping through that ceiling we talked about earlier in the year. getting ready for a breakout. You cannot keep a good man down, or a good company, and these two fine specimens will do us well as the Bernakean Liquidity Parade Rustles on.
My best, and red eye ham gravy, to you all.