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Old 10-29-2013, 05:33 AM   #61
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Mining stocks mean different things to different people. I have a friend who likes to buy these small Canadian gold miners. These are penny stocks which look like mom-and-pop operations. Not for me! The mining stocks I own are big international miners of industrial metals like iron, copper, aluminum, with sales as high as US$70 billion/yr.

Many of these are currently paying dividends of 3 to 4%.
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Old 10-29-2013, 07:13 AM   #62
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Wow you bought DIS in October 2012. If you'd done it 5 years ago instead of 1 year ago you'd have made a lot more money, sounds like you missed the boat.
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Old 10-29-2013, 07:53 AM   #63
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Mining stocks mean different things to different people. I have a friend who likes to buy these small Canadian gold miners. These are penny stocks which look like mom-and-pop operations. Not for me! The mining stocks I own are big international miners of industrial metals like iron, copper, aluminum, with annual sales as high as US$70 billion/yr.

Many of these are currently paying dividends of 3 to 4%.
I own FCX too

They did drop from the 40s to the low 30s however when they decided wrong or right to diversify into oil
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Old 10-29-2013, 09:08 AM   #64
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Notice that the OP waited 7 months to tell us about his trade. Typical of this type of poster. More interested in bragging or controversy than a rational, intelligent discussion.
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Old 10-29-2013, 09:16 AM   #65
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Wow you bought DIS in October 2012. If you'd done it 5 years ago instead of 1 year ago you'd have made a lot more money, sounds like you missed the boat.
Then again, you can say that about almost any stock you didn't buy in late 2008 or early 2009...
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Old 10-29-2013, 09:20 AM   #66
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Then again, you can say that about almost any stock you didn't buy in late 2008 or early 2009...

My point exactly. Why is the OP so happy given that he could have made so much more money.
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Old 10-29-2013, 10:07 AM   #67
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I noticed DIS at $16 at the bottom of both 2002 and 2009. I told my son that I will probably always look at DIS now to gauge how low is low - but I hope never to see another crash....

I bought RCL at $8.06 in 2009 and sold it for $49.20. I put that money into Netflix in 2011 and lost $12K of that gain! Not to be deterred, I decided that I just wasn't skinning the cat correctly and bought McKesson in April 2012. In Dec. I decided to get out with a 12% gain and buy VTSAX. MCK is now up 59% YTD 2013 but I still feel good about my decision. It was too stressful.
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Old 10-29-2013, 11:39 AM   #68
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I keep thinking of our good forum guy VA Collector when I read stuff like this. Thank goodness for being able to learn from collective wisdom.
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But surely you're feelin' the love.
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Old 11-02-2013, 04:03 PM   #69
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Thanks for the posts. As mentioned above, I view DIS as a mutual fund without any fees, and they pay a dividend. They own the only sports network which just got exclusive rights to a college football playoff which will be bigger than the Super Bowl in my opinion. They are opening a Shanghai park which will service the worlds largest population and introduce them to their products. They own the most successful and profitable movie franchises ever made with new films on the horizon. I expect shares to hit 75$ this year and up to 95$ next year.

Prior to this move I had 300K in a diversified fund with a manger for the prior 2 years, made about 5-7% in a market which doubled during that time, and I paid him fees. No more of that.

So I moved it all to a Schwab account and did my due diligence. Bought 5500 shares of DIS and 15000 shares of CELGZ which should pay very well in the very near future. I think the best line I've ever heard is from Warren Buffett, "if you're going to take a swing, try to hit a home run". Since I'm still in my 40's with my finger on the sell button if things go down, then yes, I took a chance.

Good luck to you all, I'm hoping this thing continues to pay off.
+1 ...for calling out the total waste of fee-paid managers
+1....the reference to Warren Buffett's view of concentration

I'm new to this board and searched for and landed on this topic of concentrated investing. While I am not going to dismiss broad diversification if it's in one's comfort zone, being a concentrator myself, I would ask that people not dismiss this approach either.

Concentration has worked for many, many people. In fact, many m(&b)illionaires got there through concentrating their money, like owners of farmland, small business, real estate etc. They owned and operated their own concentrated investments and reaped $$ success. Warren Buffett has been appealing to our investing senses that buying a piece of paper called stock should be treated the same way, that is you buy it (lots of it) and own forever. The important difference is that since you don't "operate" the business like farmland, investment real estate or small business, you still behave like you own the whole thing. This is why it is really important to buy into businesses that operate like true owner-operators and also treat you as a true partner. When you find a business that has a long history of running a successful business this way and you thoroughly understand the business and are comfortable with your understanding of it's prospects and risks, go ahead and concentrate. The dumbest thing you'd be doing is to go on trading your fractional ownership just because someone (Mr. Market) else says the business is worth something now and something else later.

If someone got burned by concentrating their money on the wrong business, the responsibility lies with the person(not understanding the business), not the business or the approach of concentration.

I should add that businesses that pass my qualification for extreme concentration are very, very few in number. Berkshire Hathaway is one for me. What concentration has allowed me is to spend my limited time on understanding what I own and on hobbies. I sleep very well at night!
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