For those of my readers, there are few, only about 500 so far, that can read between the lines and still own Magellan, we still need a 4 and 5 to get us to the 1.20 level. Should not take too long as this one worked out just great. Before we all get too hubristic about it, remember that getting out of Timminco, TIM, after 30% proved to be very wise!
Timminco traded at $3.08, more than enough to make a 30% return. BLD, Ballard we missed buying by 30 cents so that does not count even if it gained 80 cents.. In the mean time BBD.B, Bombardier,for a second time traded above $3, also more than 30%. Again I am not advocating that one always sells after 30% , but as mentioned earlier, it does held to set certain standards and at least for the evaluation of performance I will continue to use the 30%. I still own Bombardier even if it has been up slightly more than 30% from $2.25. Here is TIM.
and Bombardier;
This stock has quite a reputation. Sprott supposedly derived much of its income from a large position in this stock, whereas Lawrence & Co was convinced that the formula for this sand was little more than a hoax. At the time I was inclined to agree with Lawrence predicting that the stock would not rise much above $32 and then drop under $10. It got to $35 and is now under $10 at $2 and change. At these levels it may not be a bad idea to “nibbleâ€a little just to see where it goes. This is pure speculation. Here are the charts , then and now.
