As of 27 December 2019, our position in Texas Mineral Resources has been liquidated, for a return of 700%
We have also boosted our defensive cash position by 200% to 14% of the Fund in relative terms.
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3 Comments
Hi Tom,
Any particular reason you’re not holding for your $5 price target?
Thanks in advance, and everything of the best for this Christmas season.
Cheers,
b
Hi, Brett,
I think of it this way: you buy a 50 dollar stock and it moves to 400 and you’ve got a 700% return. Trading penny stocks is relative and if one has enough shares at a cheap price, a return of 700% should be just as fruitful as the investment in the high-priced stocked. In the case of TMRC, the rapid rise in shares exceeded our near-term expectations and consequently we ejected to book the profit.
Could TMRC double from here with a special announcement from the U.S. Army? It certainly could. That trade, however, belongs to someone else.
Has the fundamental picture for TMRC changed? I don’t believe so.
Finally, we think hefty cash reserves will be of paramount importance in the weeks, months and years ahead.
Have a Happy New Year, Brett.
Tom
Hi Tom,
Thanks for your thoughtful and reasoned response. As always, I appreciate your views and admire your work.
All the best for 2020.
Cheers,
b