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$RMCF

First Of The Year Portfolio Drawdown

It’s nothing too severe – less than 1% – but I’m getting wacked to start off 2014 nonetheless.

The selloff in my account is led by HCLP, as mediocre fund managers caught padding their positions, trying to save their unspectacular careers, let go the Potemkin equity stakes.

Silver caught a nice bounce into the first of the year, but we have been here before, have we not? I’m mentally prepared for silver to go to $0.00…being shelled out for free at every street corner. Why not? It has no utility, after all…excluding all its utility.

My positions are AEC, MAA, NRP, HCLP, BAS, CCJ, RMCF, UEC (small), BALT, physical silver, and some TSLA puts (a third of which are about to expire worthless on the 18th of this month).

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Pared Down BAS

I had purchased additional shares of BAS in late July through early August, between $11.55 and $12.40. Those shares were up 30-40%, so I sold off half of them. The remainder is added to my permanent position.

I love the name, but having followed it for quite some time, it’s normal deviations are in the 20-30% range. I’m happy to see it breaking out to new highs, as that jives well with my own expectations. While buying the initial stake in BAS, I called for a price target of $18 at the time, and feel this company is well positioned to experience above average growth for the next 5-10 years.

However, back to the wild price swings, I don’t trust this stock at all. So taking a bit of money off the table makes sense. If I can’t buy back in lower, I still make a fat spread on a major position. But in all likelihood, the stock craters back to $14, and I load up all over again.

My current positions are CCJ, BAS, HCLP, AEC, MAA, NRP, RMCF, TSLA puts, and physical silver.

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RMCF Diluted EPS Growing +12% YoY

Rocky Mountain Chocolate Factory, a recent re-addition to my holdings, reported earnings growth of +12% from last August.

This company’s been on my radar since the market crashed in 2009. I just like their shops and think they have something going for them. They’re small so the shares are volatile, but they keep making good strategic deals, while catering luxuries to anyone willing to drop $20 on chocolate.

Their stores started popping up in Michigan a few years ago, not much different than Teavana (although I doubt they’ll hit that level of craze). I think RMCF is a good little franchize to let my money grow with for several years.

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Holding Steady

I have a smaller cash position than the 50% I was holding this summer. My current cash level stand around 20%, with purchases of HCLP, NRP, DRI, RMCF, SCO and a handful of dips in my current assets eating up the 30% cash position.

I sold EUO weeks ago.

I’m not sure if I chose exactly the moment to lever up into the firestorm but I’d say we’re about to find out.

What I do believe, though, is that feminism has seized Ben Bernanke’s chair, and Janet Yellen can smoke blunts with the best of them.

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Started Position in RMCF

I purchased Rocky Mountain Chocolate Factory for $13.53.

Warning: This company is tiny, and probably prone to high variance shocks.

This was an old play from a few years ago, around $9. I eventually just moved on. It fluctuatues wildly and presently trades for just under $14. I’ll write up on it a little later.

This used up 5% of my account. Cash position dropped accordingly.

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