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vand

What's your PM ratio breakdown?

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2 hours ago, Stuntman said:

Mine too.  Probably true for everyone else who has posted, unless they have specifically said otherwise.

I was always looking at it physically, as it was easier to track :). Guess I have to figure otherwise

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In present value :

22% Gold physical  - 62% bullion/38% numismatics   -  45% >=1oz    55%< 1oz  

10% Silver physical  -  50% bullion/ 40% semi numismatics/10% high premium

40% Senior miners

10% Junior miners

18% Royalty companies

 

Edited by Frenchie

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On 20/07/2020 at 19:07, vand said:

Useful exercise actually.. mine is:

 

Gold 13.9%
Silver 52.1%
Plat 9.5%
Pall 0.1%
Smin 24.3%
Jmin 0.0%
Royal 0.0%

Silver is now 60% with the recent run up.

I'm congizant that the GSR is not as favourable as it was only a few weeks ago and feel overexposed to silver now, so I'm going to be rebalancing back to around 50% silver.

 

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5 hours ago, vand said:

Silver is now 60% with the recent run up.

I'm congizant that the GSR is not as favourable as it was only a few weeks ago and feel overexposed to silver now, so I'm going to be rebalancing back to around 50% silver.

 

I recall some good advice you gave me not to sell to rebalance, but just allocate funds elsewhere over time to rebalance, I think this is the best option if you think silver has more to give over the coming months/years. 

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13 minutes ago, KDave said:

I recall some good advice you gave me not to sell to rebalance, but just allocate funds elsewhere over time to rebalance, I think this is the best option if you think silver has more to give over the coming months/years. 

 

Yes I know.. sometimes I need to listen to my own advice LOL

I think you need to be flexible on these calls, and also it depends on your total portfolio size to monthly buying amount too. I can only add about 1.5% to my assets under management each month, so my AUM to cashflow ratio is relatively high.  The last couple of months has seen my PM exposure grow to 35% of my net wealth (or 42%, stripping out cash). Just trying to rebalance via monthly buying will take a long time, so this is also an all-round rjigging exercise. 

 

Edited by vand

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That's fair enough and exactly the logic I used to justify it to myself haha. In hindsight I would have been better holding and stop buying, and allocating more funds to oil instead to average in. 

May I ask what are you looking to move the funds into, other areas of the portfolio that have underperformed or is it a general rebalance?

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3 hours ago, KDave said:

That's fair enough and exactly the logic I used to justify it to myself haha. In hindsight I would have been better holding and stop buying, and allocating more funds to oil instead to average in. 

May I ask what are you looking to move the funds into, other areas of the portfolio that have underperformed or is it a general rebalance?

probably something like half to gold, half to equities.

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@KDave, thought it might be a good idea to read what Drunkenmiller said was the greatest lesson he learnt from Soros:

https://acquirersmultiple.com/2017/11/stanley-druckenmiller-the-greatest-lesson-i-ever-learned-from-george-soros/

"Soros has taught me that when you have tremendous conviction on a trade, you have to go for the jugular. It takes courage to be a pig. It takes courage to ride a profit with huge leverage. As far as Soros is concerned, when you’re right on something, you can’t own enough. Although I was not at Soros Management at the time, I’ve heard that prior to the Plaza Accord meeting in the fall of 1985, other traders in the office had been piggybacking George and hence were long the yen going into the meeting. When the yen opened 800 points higher on Monday morning, these traders couldn’t believe the size of their gains and anxiously started taking profits. Supposedly, George came bolting out of the door, directing the other traders to stop selling the yen, telling them that he would assume their position.

While these other traders were congratulating themselves for having taken the biggest profit in their lives, Soros was looking at the big picture: The government had just told him that the dollar was going to go down for the next year, so why shouldn’t he be a pig and buy more [yen]?"

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