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KDakotaFund (24.52)

Peter Grandich - It Feels Like Not Even Lipstick Will Work Now

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April 17, 2012 – Comments (4) | RELATED TICKERS: GPL , CPFXF , PPP

To say the junior resource market has been “acting like a pig” is an understatement. To say simply I’ve been wrong about them being undervalued only irritates those already wishing they hadn’t purchased… (just ask my wife—I would, but she stopped speaking to me after looking at our last brokerage statement).

It’s about 25 years since I first started speculating (gambling) in the junior resource market, and I can’t recall a stronger sense of dislike, disgust and hopelessness (maybe some Canucks fans feel close to this) in this sector than I am seeing and feeling now.

While I didn’t need a metal detector at the door, I just had many readers at a local seminar and from them sensed a high level of frustration and a wanting to throw in the towel. (It was my wife who was giving me the really dirty looks). The common theme among their questions and comments was, “Why are the mining and exploration stocks doing so poorly despite metal prices still much closer to their decade highs versus lows?

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4 Comments – Post Your Own

#1) On April 17, 2012 at 3:50 PM, ryanalexanderson (< 20) wrote:

Canucks fan analogy? Some of us don't need to leave our local province to find a much better hockey team analogy for disgust and hopelessness, eh, Kdakota?

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#2) On April 17, 2012 at 4:02 PM, XMFSinchiruna (27.16) wrote:

Thanks for posting this. I don't agree completely with respect to the root causes of the malaise, but I do certainly agree with the conclusion regarding the need to remain steadfast in the strength of ones' conviction.

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#3) On April 17, 2012 at 5:01 PM, kdakota630 (29.85) wrote:

ryanalexanderson 

If you're referring to the Toronto Maple Leafs, than I completely agree.  There was a shimmer of hope for them, but looking back, that was almost 20 years ago now.

TMFSinchiruna

No problem.  When it comes to mining stocks and the market in general, he's pretty hard to beat. 

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#4) On April 17, 2012 at 6:55 PM, Frankydontfailme (27.81) wrote:

I agree Kd, Peter Grandich is mind blowing. Imperfect, but a true whiz.

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