Trump’s current stance will make him the Hoover of our age!

Of course that affects western Canada especially Alberta and Saskatchewan… so no problem for him.

Wow DT that is sad!

Hadn’t bought a veggie platter in a while. $22…. Think it was $12 the last time I remember getting one. A few yrs yes but almost double. 😮

My favorite as a kid was chicken noodle. Those cans are 3AUD in Australia now

the housing correction is going to happen due to over leverage, locks, and slowing economy.
Trump uses tariffs as negotiation tactic. I believe when he negotiates with the new prime minister in 2025 they will come to a mutually beneficial agreement for both countries.

Haha! Thanks DT!

Go back 5 years (instead of just 4) and EFR is up quite handsomely 6x to 7x off its pandemic crash lows. The move already played out very nicely for those that were paying attention to the trends and buying low in 2017, 2018, 2019, or 2020. I sure was and actively traded UUUU dozens and dozens of times playing for counter-trend rallies.

I was even buying more UUUU (the US ticker for Energy Fuels) and UEC and URG and DNN and NXE back in March and April of 2020 right during the pandemic crash in the markets, even though I wasn’t planning on adding any more to my positions previous to that. I figured at the time that the world was not ending and eventually the quality uranium stocks would have their day…. I did so in many good gold, silver, lithium, copper, and uranium stock into that carnage.

Well the uranium equities absolutely did have their day and rallied bigly all the way into late 2021, with most up 5x-20x in that time period. That was a pretty exciting time to be in EFR/UUUU. I sold 85% of my uranium positions on that rally in October of 2021 for multi-bagger returns. (and said so multiple times in real time as it was happening). It ended up being a month too soon as they actually rallied all the way into November… but it was close enough for my liking and I caught the majority of the move. Energy Fuels was not as epic is say UEC or EU or DNN, but it still had quite a massive move regardless (much more epic than most PM stocks did).

When things sold off into 2022, and people started proclaiming that was it and the uranium bubble had popped (which was ridiculous as the longer term bull market was still just getting under way), then I started accumulating again into that weakness… and kept on doing so into mid-2023, and then most stocks had a whole other big rally into the 2nd half of 2023 into early 2024 (but to your point, Energy Fuels was a laggard during that particular leg of the bull market and didn’t act like most of the other uranium stocks).

I sold about 20-30% of my other positions like enCore and Uranium Royalty Corp, and Denison and NexGen and Ur-Energy in late January and February 2024, but elected to keep my full Energy Fuels position as it hadn’t participated as much. Then as this year played out I bought most of those positions back over the course of this year that I had been trimming and am once again mostly fully allocated and in solid green positions in all of them except the explorers I bought this year like Cosa and Forum that did get hit to the downside like almost all the uranium explorers did.

One potential reason why Energy Fuels didn’t really track the movements of the uranium ETFs like URNM or URNJ or URA, or most of the other uranium stocks like EU or UEC is that it decided to buy large rare earth projects in Madagascar, Kenya, and Tanzania, since it can process the radioactive elements along with the REEs and most companies can’t. I think this threw the uranium investors for a loop, and they went into the penalty box for moving into other commodities. Energy Fuels isn’t really getting credit for these acquisitions yet, but I like their ability to actually produce REEs (unlike 99% of rare earth dreamers and schemers that don’t have a prayer of making it into production). They’ll have a dual track Uranium + REEs production year in 2025 and I’m here for it. 🙂

Hi DT. Yes, in the summer I drink coconut water to help with hydration as it does have a lot of naturally occurring electrolytes.

Take a big gulp of seawater during morning swim and that contains all minerals. It’s free

It is going to be interesting to see if the general markets get a Santa rally or if they get coal this year the last 2 weeks of the month. There still seems to be a lot of unbridled enthusiasm and euphoric speculation in the general markets, with very few bears left at all for US equities.

Of course, that is always what we see at market tops, but the euphoria usually lasts longer than most rational people can believe… because it is fueled by emotions and greed and recency bias… not logic.

I’ve not shorted the general markets since late 2021 but am strongly considering starting to short the Nasdaq and S&P500 sometime in early 2025 as the popular delusions and madness of crowds potentially hits another apex.

Thanks for the kind words Wolfster. Yes, I do work hard to keep up with a larger basket of companies (both in my portfolio and outside of it), because this is what I do for a living. I get that many people are just speculating part-time, and for some having a smaller more concentrated portfolio in just a handful of names is a better approach; IF one has high confidence in those stocks. For some investors that don’t want the inherent risk that comes with individual companies then the ETFs are really the better way to play it, and in many cases investors would have done better just betting on an ETF for a specific sector versus going all in on a few risky individual company names.

Some investors have literally hundreds of stocks, while some go all in on one asset class like Bitcoin, or Real Estate, or Nvidia, or a Mutual Fund for retirement. Different strokes for different folks.

The point I was trying to make is that once someone has done their initial due diligence and vetted a company, there isn’t really that much more work to do other than keep a cursory glance on future news. Most companies have a way where you can just have their news emailed out each time they put out a press release, so it’s as simple as checking one’s inbox. They are not putting out news daily or even weekly in most cases, so there just IS NOT that much to keep up with… even on 50 positions, or 150 positions. Not much really changes day to day or week to week in most stocks…

As for daily activity, I don’t really fret much over that, and believe so many investors that claim to be “buy and hold” “value investors” spend waaaaaaaaaay too much time fretting over daily action in their stocks and are overthinking things, and this causes them to make poor decisions reacting emotionally to daily wobbles. If you like a stock and your entry price (or average cost basis after layering into a position) and have a 1-3 year time horizon, then you really don’t have to spend hardly any time on it after that (unless something drastic changes).

For example, if someone loves royalty companies, and likes the allocation and assets to a given company’s royalties, then it really doesn’t require hardly any more time to hold them in one’s portfolio each month. For example: I’ve got Sandstorm, EMX, Elemental Altus, Vox, Metalla, and Orogen at present, and I really spend less than 5 minutes on each one each month for due diligence, unless I’m preparing for an interview with one of them. It’s the same thing with most producers or developers.

They are mostly set it and forget it stocks for me, and I’ll occasionally increase or decrease them based on how I want to utilize funds in other investments or based on their chart setups, but even those trades only take a couple of minutes of analysis. Once I really like a stock, and if it is liquid enough, then the only thing I watch is where to trim back positions on rallies, or where to add more on pullbacks. Nothing really that substantial fundamentally changes in these stocks from month to month (or most stocks for that matter). The only stocks that really need to be monitored closely on fundamentals are companies flirting with solvency or exploration drill plays (where either they hit or they don’t hit on a given drill campaign).

–> People that proclaim that they “just don’t have time to trade” are full of their own excuses.
(that is definitely not directed at you Wolfster… but just more of a blanket comment as I hear that rubbish all the time and it is complete nonsense).

>> It takes only a few minutes per day to look at a chart, decide a trade is appropriate, and then place a limit order in one’s account. Limit orders can execute while you aren’t even watching the account. I’m a very active trader and do so all the time and it literally takes 2-3 minutes and then anyone can go back to their daily life. Trading takes almost no time if done correctly, and most people waste FAR more time on social media or debating global or national news that has no real impact on their daily lives. When people say that they “don’t have time to trade” that is just pure BS.

It’s the same point when when people say that they don’t have time to follow multiple commodities or sectors. That is also BS. It only takes a minute or 2 to size up a whole sector on a chart and decide if it is running, basing sideways, or correcting and ultimately if you want to participate in a trade or not.

So for gold or silver or copper or uranium or lithium or oil or nat gas or whatever… someone can know in a minute or two if they want to be in that sector now, wait on it, or avoid it completely. If they want to act on it they can trade ETFs, or Futures, or options, or individual stocks. It’s not rocket science… it is as simple as pull up chart, make a decision, and hit the buy or sell button in one’s trading account. This takes only minutes…

>> When I was discussing Uranium stocks up above, it was the exact same point. If one knows that the uranium price has to move higher then it is a “when?” question… not an “if?” question. When the pandemic crash was happening, it was super simple to have the mindset “Ok, the quality uranium, lithium, gold, silver, copper companies will eventually move higher again, these prices are nuts, I’m going to buy as many as I can of the quality names.”

—> There wasn’t anything “to keep up with” or “all this time needed” or “all this research to do…” You just buy the best names or the names with torque that will recover when sanity returns to the valuations… and behold a year later most of the best stocks in each commodity were up multiple fold. What was there to know or spend time on? (that is all nonsense excuse making and masks the simple reality we do as investors – push a button to buy or sell something).

People waste SO MUCH time every day worrying about so many things that don’t really matter or with all their small talk that isn’t really important about who won a game or what a celebrity or politician said or whatever… and it again has no real impact on their lives. They do this without thinking of all the time that takes, and yet they willingly choose to invest their time there, rather than spending a couple minutes placing a simple trade that could actually be quite meaningful economically to their lives and families.

Back to the point though, for most stocks, there isn’t that much to keep up with on a monthly basis. Most companies put out news 1 or 2 times a month (if that), and it rarely is so important that it really shifts the trajectory of the stock in a meaningful way. So what in the world are people spending all their time “researching?”

>> Now, in speaking with hundreds and hundreds of investors over the years, I’m convinced that most people spend the majority of their time talking to other investors or seeking out their opinions in interviews, chat rooms, or messaging to see what other people think about a stock or sector. That’s not really true due diligence and is all opinion based at the end of the day. Seeking approval or validation from others is quite often a huge waste of time, and most other investors end up being wrong about a catalyst, outcome, price target, turn, etc… all the time anyway. Sure, sometimes people will bring up red flags or green flags you may not have known about, but in general that is not as productive as doing a deep dive on the company, making a decision that the stock is or is not something you want to invest in, and then pulling up a chart to look for good entry or exit points.

I’m a very simple investor, and usually simplicity is best in investing. I research a sector first, and then a company second to decide if it is a stock that I want a position in. After that, I use charts to look for places to buy and sell it. Once it’s vetted and I have a position in it, there really isn’t much else to do, except check in on it occasionally, and check the price action on the charts for a minute or two once in a while. If some critical news actually does break that surprises the market, then there was nothing I could have done to prepare for that anyway, and I react accordingly.

Sure, I’ll do some of the same as others and check in on the scuttlebutt around a stock, but I spend very little time seeking the opinions of others on my own investments. Of course, at the KER we interview some of the best thought leaders in the sector to get a gauge on what others are saying and what stocks they like, but ultimately I don’t really care what other people think about an investment I’m making. Quite often I do well in investments that other supposed “experts” trash talk, and I’ve watched the best of the best be wrong plenty in the picks they make, or miss great opportunities by being to skeptical or dismissive of stocks or entire sectors on the move.

Personally, I do my own research, look at the charts, and then make a trade. I own it as an action taken personally, and never blame other people for listening to what they think and getting hoodwinked. Real investing and trading only takes a few minutes once someone knows what they are doing to size up a value proposition, make a decision, and then act on it by hitting the buy or sell button. It is not a time consuming activity, unless people convince themselves that pouring over the fundamental or technical data for hours is somehow going to get them to come to some radically different view. (99 times out of 100 it won’t… it’s just another way to waste time). People’s obsessions and their opinions are the time consuming activity… not sizing up a sector or stock and making a trade.

The advantage to having a diversified portfolio versus a super-concentrated portfolio, is that no position is going to kill you or blow up your account. Conversely, you aren’t going to get rich quickly for being right 1-2 times in a swing-for-the-fences super risky bet, but if you are more right than wrong on a basket of stocks, and rebalance periodically, then you’ll accumulate wealth over time.

The r*ts are leaving the titanic but what really matters is when BIGGIE leaves. DT

Trudeau is next