Thursday, February 3, 2011
Fronteer Gold (FRG)
Well dear fictitious questioner, because of potentialities like this: Newmont Expands Nevada Growth Potential With Acquisition of Fronteer Gold
That and a dogged refusal to sell out of a long term bull market completely, as long as I feel it is still ongoing. Can you imagine the people that were puking this stock up at 2 bucks a share?
I don't think I am too keen on owning Newmont however, so I will probably sell and put the proceeds elsewhere. Good practice demanded that I reduce holdings from overweight to simply largest (but in proportion) holding as the stock rose over the last year. So it's not a 'get rich' story because I don't play in that casino. I manage portfolios.
As I wrote this morning, you have got to love this stuff.
Edit (10:56) Well, the speculation account shares are sold and the 'preservation' account (regular brokerage) are held as I cannot bring myself to pay the taxes. I guess I'll invest in Newmont for a while. Also, there is a spin out component here. I already hold REN.v (which was spun out from XAU.to upon being gobbled up by FRG to lock and load 100% of Long Canyon) in the spec account, but not in the 'pres'. So I'll get the Pilot Gold exploration portfolio in the other account. Confusing I know, but pretty neat.