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Post by demanuel2001 on Nov 24, 2010 21:11:12 GMT -5
Made back what I lost yesterday and Dear Leader gave me an extra $2,000 as a tip - thank you Toadface! Would have been more but I wasn't paying attention and I hit the bid on some $52.50 puts that expire on Friday without noticing that the bid-ask spread was 70 cents - I actually sold these puts for LESS THAN INTRINSIC VALUE! Obviously not at the top of my game - I ended up ahead on those puts but the point is I GAVE AWAY $1,000 on executing the trade by keeping my brain turned off - not the best way to play the game.
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Post by jack on Nov 24, 2010 23:47:46 GMT -5
Jack you win the massive cojones award - don't know the details of the investment 14 yrs ago - but that took some bigguns.....Congrats again. I actually invested in the confidence of one of the 3 original partners - an incredibly brilliant PhD physicist who was also my Chief Scientist on a $5B accelerator we were planning. A Los Alamos vulcanologist acquaintance of his had been doing some field work in Colombia and brought back some samples from a local mine for analysis - that's when he learned of the potential. Indigenous people and the Spanish had already taken the free gold out but there was still a helluvalot of gold left in suspension. Colombia was bypassed by industrial miners in the 40s-90s because of the war and later by the Marxist insurrection thanks to Che Gueverra. My partner was smart enough to find Bob Allen who was then down there (the current CNL Chairman of the Board) to team up with. THe other original partner almost killed the company. A lotta mis-steps along the way...and at one point the entire venture was about to fold, but the thing is golden now. THe data from the drilling program is all independently verified. And contrary to most goldmines which DON'T have much gold) these properties are sitting on one of South America's largest deposits - a "Super" class find the kind only a handful are found on a continent w/ 1M oz....and that's only 1 of 8 properties they have so far characterized!!! GL
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Post by demanuel2001 on Nov 25, 2010 0:41:30 GMT -5
Jack you win the massive cojones award - don't know the details of the investment 14 yrs ago - but that took some bigguns.....Congrats again. I actually invested in the confidence of one of the 3 original partners - an incredibly brilliant PhD physicist who was also my Chief Scientist on a $5B accelerator we were planning. A Los Alamos vulcanologist acquaintance of his had been doing some field work in Colombia and brought back some samples from a local mine for analysis - that's when he learned of the potential. Indigenous people and the Spanish had already taken the free gold out but there was still a helluvalot of gold left in suspension. Colombia was bypassed by industrial miners in the 40s-90s because of the war and later by the Marxist insurrection thanks to Che Gueverra. My partner was smart enough to find Bob Allen who was then down there (the current CNL Chairman of the Board) to team up with. THe other original partner almost killed the company. A lotta mis-steps along the way...and at one point the entire venture was about to fold, but the thing is golden now. THe data from the drilling program is all independently verified. And contrary to most goldmines which DON'T have much gold) these properties are sitting on one of South America's largest deposits - a "Super" class find the kind only a handful are found on a continent w/ 1M oz....and that's only 1 of 8 properties they have so far characterized!!! GL Jack it sounds to me like you made your own luck on this one! As for once in a lifetime deals - the trick is to get 3 or 4 of them into one lifetime - you can do it!
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Post by jack on Nov 25, 2010 11:52:37 GMT -5
I actually invested in the confidence of one of the 3 original partners - an incredibly brilliant PhD physicist who was also my Chief Scientist on a $5B accelerator we were planning. A Los Alamos vulcanologist acquaintance of his had been doing some field work in Colombia and brought back some samples from a local mine for analysis - that's when he learned of the potential. Indigenous people and the Spanish had already taken the free gold out but there was still a helluvalot of gold left in suspension. Colombia was bypassed by industrial miners in the 40s-90s because of the war and later by the Marxist insurrection thanks to Che Gueverra. My partner was smart enough to find Bob Allen who was then down there (the current CNL Chairman of the Board) to team up with. THe other original partner almost killed the company. A lotta mis-steps along the way...and at one point the entire venture was about to fold, but the thing is golden now. THe data from the drilling program is all independently verified. And contrary to most goldmines which DON'T have much gold) these properties are sitting on one of South America's largest deposits - a "Super" class find the kind only a handful are found on a continent w/ 1M oz....and that's only 1 of 8 properties they have so far characterized!!! GL Jack it sounds to me like you made your own luck on this one! As for once in a lifetime deals - the trick is to get 3 or 4 of them into one lifetime - you can do it! Thanks Demanuel! btw Waverrun informs me that MGM is in the "Golden Cross" formation - I know you play LVS but thought you'd be interested in that MGM development. ;D
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Post by demanuel2001 on Nov 25, 2010 12:00:44 GMT -5
Jack it sounds to me like you made your own luck on this one! As for once in a lifetime deals - the trick is to get 3 or 4 of them into one lifetime - you can do it! Thanks Demanuel! btw Waverrun informs me that MGM is in the "Golden Cross" formation - I know you play LVS but thought you'd be interested in that MGM development. ;D Not at all sure what a Golden Cross is - it sounds a bit chartish. Here's the thing Jack - LVS was one of my "once in a lifetime" deals. MGM certainly isn't - and I tend to think of shorting MGM rather than buying it. The only casino I'd rather short is Harrahs and since they couldn't even get their IPO off the ground I won't have that opportunity.
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Post by exabi on Nov 25, 2010 12:18:41 GMT -5
Your right, it chartish - a golden cross is when the ascending 50 sma crosses the 200 sma - bullish. The opposite, the death cross, is when a descending 50 crosses the 200. Sometimes they play out, sometimes they don't, but they get a lot of attention.
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Post by jack on Nov 25, 2010 12:39:40 GMT -5
Thanks Demanuel! btw Waverrun informs me that MGM is in the "Golden Cross" formation - I know you play LVS but thought you'd be interested in that MGM development. ;D Not at all sure what a Golden Cross is - it sounds a bit chartish. Here's the thing Jack - LVS was one of my "once in a lifetime" deals. MGM certainly isn't - and I tend to think of shorting MGM rather than buying it. The only casino I'd rather short is Harrahs and since they couldn't even get their IPO off the ground I won't have that opportunity. In MGMs case its 50dma is crossing above the 200dma - a sign that the market has turned in favor of the stock www.investopedia.com/terms/g/goldencross.aspWHAT its actually gonna do is your guess as good as mine.
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Post by jack on Nov 25, 2010 12:42:41 GMT -5
Your right, it chartish - a golden cross is when the ascending 50 sma crosses the 200 sma - bullish. The opposite, the death cross, is when a descending 50 crosses the 200. Sometimes they play out, sometimes they don't, but they get a lot of attention. Thanks Dave for posting the pic. Waverrun says she's been milking MGM as a cash cow for quite awhile now. ;D
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Post by jack on Nov 25, 2010 12:44:37 GMT -5
btw Dave...CNL broke thru 10 again up 3% on the Toronto Exchange - they are open today for biz apparently
LOL!!!
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