Club Mulgoa

Wednesday, March 23, 2011

Silver

At the height of the effect of the Japanese nuclear crisis on the world markets, I was sold some ARD shares. I put what I considered to be a very low buy price and took my eyes off while at work. When I got home, I had to pay for those shares!

As I have always said, some of my best performers were bought when the market was dumping shares. You have to be brave and a fool at the same time. But sometimes, a fool can be a contrarian. A week later, it is up 31%. And Ag has hit a record price but is still undervalued relative to the price of gold.

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