The Intelligent Investor and XAU.TSX
It is always easier to hold a stock when it's on its way up. But when it gets beaten down by hedge fund shorts, it's not so much fun. Ben and his most successful disciple Warren Buffet would ask you "why did you buy it in the first place?'. If the fundamentals are intact, and you bought it for the longer term, ignore the price of the moment.
Back in the day, we used to look up yesterday's price in the morning newspaper. Now we check the price every ten minutes on our iphones. It's up 10 cents! It's down 30 cents! What's happening? No, it's up again. Then down - the sky is falling.
It's like a collective case of Attention Deficit.
I was happy to own XAU at these levels two years ago. The company has made a great deal of progress since then. As management and staff have gained operating experience, risks have been reduced. The balance sheet is much stronger. New opportunities, like Goldmoney China, are being pursued.
I like being an investor in this business so wake me up when the market cap hits a billion. Until then, Benjiman and I will be thinkering with other matters.