Member Info for Impecunious2

Hi, Professor.

The phrase originates in the Anglo-Dutch wars of the 17th century (each of us was trying to build a maritime empire). The conflict included one of the most humiliating events in the history of the Royal Navy, the capture of HMS Royal Charles in the raid on the Medway in 1667. The coat of arms on the transom of the ship may now be found in a museum in Amsterdam.

Gold at $1757, down from $1810 earlier in the week. The other gold mining shares are not looking too happy, either (except for TSG, which has announced a share buy-back).

Hi, Idealised.

The important question you must ask yourself is this: are these coins minted before 1992? If so, you're in the money. If not, not. Because since that date, they've been made of copper-plated steel.

Thanks for this, Floater @16.34.

You've managed to say what I was thinking, particularly in paras 2 & 3. The exchange of insults between Fenix and Napthman is depressing to witness, and benefits no-one.

Hi, Stebo @16.21.

I agree with you on this (particularly your second point), and was going to write something similar, but got diverted by a shopping expedition.

Hi, Stargazer.

I agree with you about AIM, and the South Sea Bubble; but the main market has plenty of volatility, too. I remember Man Group and Schroders (both then in the FTSE 100) falling 10% in a day; for I was holding them at the time. Pain creates a memory, as Nietzsche once said.

Hi, Hollamatronic.

You're right, no-one should be blamed or shamed for selling now. It's just that they are making a strategic mistake. The time to sell is when the billboard becomes dominated by discussion about the rival merits of Aston Martin, BMW and Porsche. It's happened before, and it will happen again.

Gold looking in slightly better shape, at $1798, compared to a low of $1762 last week.

Hi, Sliotar.

I don't fall into the "positivity only" camp. But this sideways movement in the share price is certainly better than a continuation of the fall. It may tempt in some of those who obey the precept, "Never catch a falling knife." For the knife has now stopped falling.

Speaking of positivity, I was looking back over some of JoeBass' posts in November and December. He's clever. It was he who abbreviated "Scallywag" to "Swag," and then made a prudent exit before the results arrived. Whether the rampers or the derampers are more damaging to one's wealth, it's hard to tell.

Best wishes.

Hi, Jacal.

Thanks for the reply. These things happen.

From a literary standpoint, you're in good company. Daniel Defoe, Jonathan Swift, Samuel Johnson and many others wrote under more than one name; and there was a pamphleteer in the 18th century, who made a successful living out of arguing for and against Christianity, under two different names.

But on an investors' billboard, it's rather frowned upon, for reasons too obvious to mention.

Hi, Mugor.

I like your prose style, it's really elegant. I see the name "mugor" comes from Nigeria or India; which doesn't surprise me, because my students from those countries have always spoken and written much better English than the Brits.

But I do have one question. Are you posting under two different names? Your post at 17.46 refers back to one written at 15.59 by Jacal101, as if it were your own. And the style's the same, too (except for Jacal's post of 16.43, which seems to be something of a deviation).

We also have Erik Satie and Chopin, as below.

https://www.youtube.com/watch?v=UKRY63Buv6A&t=2723s

https://www.youtube.com/watch?v=-gDinVAmtA0

Hi, BTB.

Flattery is always welcome.

Best wishes.

Thanks, BTB.

I agree with you on this.

But I want to learn from my mistakes; and unlike Christophe B, Timbertrader and others, I failed to take any profits above 30 pence, when I should have done so; and therefore I had no money to buy back in the 20's, and support the share price in its hour of need. Never again. Even the best of companies (and Greatland is one of the best) will suffer corrections of 30% or more in an upward trend; and there will be another one, though we don't know when, and we don't know from what level. Enthusiasm now, I'm all in favour of; enthusiasm after a three month rise, I mistrust.

Hi, BTB.

I don't think it will make any difference, because it will already be in the price, before it happens. Personally, I would regard such an announcement as a certain sell signal (despite having held GGP since 2010 or 2011, I now forget which). It is better to travel than to arrive.

Hi, Sanibel.

I agree with you, and particularly like your turn of phrase in the last sentence. You must have a similar sense of humour to Mr Bronson.

Hi, Bronson.

Yes, I'm sorry it's gone. It made me laugh. In the '70's, we used to run around the office, crying out "I must find a bottom." That was before the big bang, of 1986. But I liked the fixed commissions; they paid my salary at the time.

Doubtless this will be deleted, too.

The FT has a bullish article on commodity prices on its front page; "first leg of a supercycle, fanned by robust appetite in China, etc." Reminds me of 2005. "Something odd's happening in the copper market," said a friend. How right he was.

Hi, Peg.

You have to look at the risk/reward ratio. As several others have pointed out, the downside risk from here is small, and the upside potential is large. So you should hold (or buy more). Of course, if you have to sell to pay bills (as you mentioned earlier today), that's another matter. It's not an investment decision, but a necessity, a forced sale (which happens to me once a month, when I have to cover my living costs).

Best wishes.

"Top hole" and "tickety-boo." Both early 20th century.