Monday, March 4, 2013

I made a buy

Hey Freaks!

I bought more shares of Barrick Gold today. 20 to be exact @ 29, 39 $. I now own 250 shares of ABX.

When I saw that shares were trading below 30 $, I had to make a move. Besides, owning 230 was
bugging me, I had to have 250!

No, seriously, I know Barrick is in a world of pain at the moment. But it still the largest gold producer
in the world.

It will take a year or two before it gets back on its solid basis. Right now, it's trading under it's fair value by a long stretch. I expect my investment to come into fruition in years to come. So patience is of the essence.

The only thing I know for sure now is that I will no longer invest in the company before it's getting healthier. 10 K$ is more than enough, especially with a meagre dividend of only 0,80$

So for now that's it on the stock front.

It's Tax month here in my part of the world. Our condo tax bill is clocking roughly 2,5 K$. So my savings should be lower than usual. Bloody taxes are the culprit!






2 comments:

  1. Cool. ABX is on my watch list. 250 is a lot of shares ^_^ I have Goldcorp already, looking to diversify though. I think there will be a time in the future where gold stocks will outperform gold bullion again so I want to get in before that happens :D

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  2. Hey Liquid. Good to hear from you. Buying stocks from gold companies is a great in between way of actually owning gold. Unfortunately, ABX's stocks hasn't reflected the recent gold surge -- for various reasons. I'm confident it will eventually. But this is a sector with a lot of up's and down's. I have a larger position that I would like, but it sometimes happen when you try to average down your price per share... Thanks for coming by.

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Thanks a lot for your comment.