My portfolio and carry-over from MSSB

The blue chip portfolio from my days with MSSB (the old Citibank) has been stagnant, consisting mostly of banks and BHP, RIO, GMI, WES, STO and WOR. When the opportunity arises to shed them, I will. So far, these stocks are not raising cash except perhaps STO.

But the portfolios with small miners that I manage, have charged ahead. If there is a downturn, I could be badly hit but the price of gold will move up and more than 200 nuclear energy generators are planned so uranium stocks, especially after 2013, will continue to advance. I sold ORI yesterday to make way for SLX share purchase plan. And then there are REE, potash, phosphate, copper, O&G, coal that many countries especially China, Japan, Korean and India need. I feel comfortable.

My MMR will hit me hard when it re-lists on the ASX but as it is virtually free, I have no regrets taking the risk. I have taken risks with so many explorers and I have been amply rewarded. These Aussies who go to dangerous places earn my respect and admiration infinitely more than sportsmen. Yet they get no recognition by the society. WTF! The geologists' success benefits investors and eventually, the mineral income will top up the ATO's coffer. Sporting success mostly benefits financially the sportsmen themselves; I don't need Australia's sporting prowess. And the reporters and commentators also benefit and it also allows Shane Warne to hop into bed with Liz and other pommy mothers. Good for him.