Portfolio Update: It’s Beet Red These Days! (April 25, 2017)

by FI Fighter on April 25, 2017

in Precious Metals Updates

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Oh boy, did I speak way too soon with my last post! I mentioned that I thought precious metals mining stocks were “consolidating”. Hah! More like, they are getting the snot beat out of them! Yeah, I think that would be a more accurate description of what has been going on as of late with many of these companies, in spite of the fact that the spot price of gold has actually been holding up quite nicely.

Anyway, that’s just the way the cookie crumbles sometimes…

With that said, now feels about a good time to give readers a snapshot update on the overall portfolio.

So, here it is!

As of April 25, 2017.

Certainly, my portfolio has seen much better days! Check out my performance on the ASX… Talk about atrocious… I sure have gotten my ass handed to me! Perhaps I shoulda just stayed clear of Australia altogether, aye, mate?

Still, despite the carnage in recent months, I’m still up 107% overall, and a somewhat “healthy” $410,000. So, certainly I’m most grateful and appreciative of that! You can also see my End Game target of $1,200,000 on the spreadsheet as well (which looks/feels like a crazy pipe dream right now)… I’m currently over $406,000 short of this goal.

Damn, I’ve got a lot of work to do and ground to make up!

Please note: The overall returns (realized and unrealized) that I’ve made to date are ALL taken into account in the Total Gain/Loss and Total Return sections. 

However, the individual line items don’t always give a good indicator of past history/results… For instance, I’ve closed out positions in B2Gold (BTG), Klondex Mines (KLDX), Ivanhoe Mines (IVPAF), etc.  in the past, but sometimes I elect to get back in for Round 2, Round 3, etc… If/when I re-initiate a new purchase order of a stock I used to own, the original profits no longer show up in the individual line items, but I’m still accounting for those gains! Further, any short-term trades (win or lose) are all accounted for as well.

 

To better clarify, here are some trades that I’ve executed in recent months.

 

Anyway, you get the idea…

 

Oh, and I did recently add 1,500 shares of Klondex Mines (KLDX) @ $3.54/share.

 

And for proper context, here are the last few updates when my mining portfolio was (similarly) shredded to bits.

 

It’s a tough, tough, tough… brutal (and most volatile) game… I don’t have all the answers, but I still try and do my best to document my results so that readers (and I, of course) can learn from my many mistakes.

 

When the market sells off in this type of manner, yes, without question I feel like the biggest idiot on the face of the earth… But again, that just comes with the territory. And to give you all a behind the scenes look into things, I will say that sentiment has shifted quite a bit since the dark days of late 2015/early 2016…

These days, more and more friends/family/readers/etc. are pinging me on NASTY down days like today, and they aren’t scared in the least bit! Resolve is very strong, and I’m seeing a lot of strong hands who not only aren’t selling a single share, but they are instead trying to find ways to “back up the truck” and add more quality holdings at what have got to be some pretty damn attractive prices.

 

We all know nobody can predict the bottom…

 

Can these stocks fall a lot more?

 

Of course…

 

But dude, seriously… “Buy low and sell high.

 

For the life of me, I will never figure out why certain jaded/cynical/negative investors have to feel the need to shit on others when they are buying up assets that are selling off and in liquidation…

 

Catching falling knives?

 

Maybe…

 

But if you’ve got that kind of fear, what’s wrong will dollar-cost averaging (DCA) down? You know, buy in tranches, nibbling just a tiny bit each time, in spaced out intervals…

 

I mean, what’s the “better” alternative? Chasing after these assets at a later date when everyone and their dog is bidding them up to the moon?!?

 

Anyway, you all know I like to dramatize things a bit, but the key takeaway is this — I’ve got full conviction to ride out this trade. Yes, taking HUGE losses sure does suck azz in the short-term, but it’s all just a part of the process, so I ain’t tripping out in the least bit… If anything, I’m also just trying to figure out an efficient way to add more shares at these low prices… I really don’t care about the whole GDXJ rebalancing act that’s going on right now, further influencing these sell off type of events… It’s all just short-term noise…

 

Lots of good deals out there now!

 

I hope you all found this post useful… I really only like to share these real numbers when the shit is hitting the fan, as opposed to when everything is all hunky dory (cuz that doesn’t help anyone and only encourages reckless FOMO chasing).

 

To better days ya’ll…

 

Happy Hunting!

 

 

Photo Credit: Free Digital Photos

{ 11 comments… read them below or add one }

1 Chris GregoryNo Gravatar April 25, 2017 at 7:07 pm

Thanks, Jay. Always need some encouragement on days like this. It was easier when I had more cash to spend on these “discount days”. But now the well is starting to run low . . .

Thanks for the positive perspective.

To better days ahead!

Reply

2 FI FighterNo Gravatar May 4, 2017 at 4:53 pm

Chris,

Definitely being cash strong is always a good position to be in. It’s a good reminder to book profits when these stocks have a nice run-up.

To better days.

Cheers!

Reply

3 Midwestern LandlordNo Gravatar April 26, 2017 at 8:46 am

Like you said, even with the recent downturn you currently have turned $383,000 into $794,000. 107% return. Very solid position to be in. Interesting that $1,200,000 total is your goal. Is there any reasoning behind that?

It is very helpful that you explained total returns to the readers so they understand the overall situation. I have been following for a while. I knew that you were still way up.

Reply

4 FI FighterNo Gravatar May 4, 2017 at 4:54 pm

Midwestern landlord,

No, there is no reasoning behind that, I just thought it would be a realistic target at this point moving forward.

It’s tough right now but I’m trying my best to stay levelheaded.

All the best!

Reply

5 WtfNo Gravatar April 27, 2017 at 8:53 am

WTF is with all these mining stocks? R u smoking crack?

Reply

6 FI FighterNo Gravatar May 4, 2017 at 4:55 pm

Wtf,

No… are u?

Reply

7 No Nonsense LandlordNo Gravatar April 30, 2017 at 11:59 am

You are definitely not afraid to swing for the fences. I sleep better at night with smaller swings. I know the S&P will not go to 0. I never have to sell, and pay capital gains.

Reply

8 FI FighterNo Gravatar May 4, 2017 at 4:56 pm

Eric,

Yes, S&P 500 won’t go to 0 and I doubt these miners will either.

Take care!

Reply

9 MARC CIUCCINo Gravatar May 4, 2017 at 6:12 am

Jay,

Have you added to any of your (bought anymore tranches) precious metal positions?

It’s been a real BLOODBATH in gold / silver the last week.

I’m getting murdered in Teranga… will probably add more today though.

Thanks,

Marc

Reply

10 FI FighterNo Gravatar May 4, 2017 at 4:56 pm

Marc,

I haven’t been buying yet, but I will soon I’m sure of it.

All the best!

Reply

11 BryanNo Gravatar May 17, 2017 at 6:03 am

Hey there Jay, I’m sure when this bill has run its course you will be booking a hell of a lot more than the 400k you need to reach your goal. I have conviction there is a lot of blue sky potential ahead. Thanks for allowing us to follow your work, rock on brother.

Reply

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