I have taken pains to cultivate a subscriber base that does not depend on me to be a stock picker, a buy and sell micro-manager or a guru to tell readers when to follow me. I have taken pains to cultivate a subscriber base that thinks for itself.Now, some subscribers are esteemed people whose experience makes my own look rather modest. Others are here to learn. Still others use me as a usually conservative guide post among many other information sources. But one thing I know I am is brave when others are frightened, when fundamentals warrant such a stance.
Last year, I was very brave on old favorite ROY as this company with a strong fundamental story (obviously Franco-Nevada now thinks so too) was thrown away by casino patrons. I also sold it much too soon in retrospect. But Doug did not. That is because Doug thinks for himself. I am so pleased by this I cannot express it in a simple blog post. Anyway, from Doug:
"Hi Gary, Just wanted to let you know that in the middle of the doom and gloom of last year I went ahead and purchased a number or your recommendations: ROY was a company I was not familiar with but went ahead and followed your lead. Today, half of the position was sold on news of the possible buyout! That trade alone gives me a 95% return on the investment and half the shares sitting in the account free and clear... Thanks for being a clear head amid all this garbage! A loyal subscriber."
and a bit later:
"Not meant to brag, just letting you know that I appreciate your efforts. You are teaching me plenty and the greatest lesson so far is that it is OK to sell..."
