Fokisi
13 Sep 2015
Gold - SL interview May 2015 [link]
Carefully Does It
09 Sep 2015
Re: PNL I hold PNL.You can't really tell the value of gold until you need it and then it's too late to buy it. If you need it the lost dividends over the holding period pale into insignificance. As they have held it for a while I guess their average price is somewhat lower than todays? I should really know this but do trust them to run it properly so don't tend to fret about it much.The gold element is purely the last resort in case of melt-down. If the equities and bonds were to fall together it is to gold the money would run. What % should they hold - I'm not sure - but am glad there is some as ballast.I also hold gold outside of PNL as one element of my entire portfolio. Look towards 5% total allocation but don't tend to control the % tightly. It's there, just in case. Hope it's never called upon to bail me out in a collapsing economy.
EssentialInvestor
09 Sep 2015
Re: PNL Gold is the area where I disagree with PNL.It has cost them dearly on performance over the last 2 years, coupled with a largepotential loss of income.PNL hold some fantastic companies, but the performance of gold has helped toobscure the quality of their equity holdings imv.3 years ago gold was a massive speculative bubble, you could not turn on the TVwithout being bombarded by .. we buy your gold adverts, online, in papers, everywhere.This speculative aspect should have been recognised by the BOD and TROY,even halving exposure then would have greatly enhanced returns. All IMV, as always.Gold aside, I like PNL at this point of the cycle.
Fokisi
05 Sep 2015
Re: PNL Quarterly Report No 75 (Feb 2015)"...We are also hanging on to our gold (which gets relatively less expensive to hold as interest rates turn negative) and may add to it...."As at 31 May 2015, gold bullion represented 10.2% of Shareholders' funds
EssentialInvestor
05 Sep 2015
Re: PNL Thanks for the clarification.They have sold both Newcrest and Newmont mining.
Fokisi
04 Sep 2015
Re: PNL They have not sold gold holdings, only value stated has reducedI hope they make further purchases, if gold price continues to drop
EssentialInvestor
04 Sep 2015
Re: PNL In a word - YES.Look at PNL re most major equity markets in 2015 and the outperformancehas begun.Gold has held relative performance back and I noticed they appear to have reducedgold exposure looking at the latest portfolio composition.All imv only, please dyor.
Carefully Does It
28 Aug 2015
Re: PNL This is supposed to outperform when the main indexes are suffering.Well, does it?
forddrive
28 Aug 2015
PNL Sorry, I meant "pedestrian"!
forddrive
27 Aug 2015
PNL The manager boasts about being a "safe haven" but in these testing markets I would describe his performance as pedantic.
EssentialInvestor
21 Jul 2015
Re: Personal Assets Agree with adding to the PM holding, good call.However the gold holding has really cost performance dearly.If that 10% gold holding had been in dividend paying stocks theirperformance would have been transformed over the past 3 years -while still retaining ample liquidity.
forddrive
21 Jul 2015
Personal Assets A wonderfully funny note from the manager, but recent performance has been uninspiring.
II Editor
20 Jul 2015
NEW ARTICLE: How did last year's £50,000 windfall tips do? "This was never conceived as a short-term exercise, and indeed "results" after a single year are not terribly meaningful.However, as a bit of fun we have taken a look at the performance of last year's windfall tips.As the table below (click to ..."[link]
EssentialInvestor
13 Mar 2015
Have a little patience Bought back in this week.Few options at this stage of the cycle to protect hard earned capital,reading the latest Q report I can only agree with Robin's outlook and view.He appears to think their time is coming again and on much reflection I strongly agree.
EssentialInvestor
05 Mar 2015
Re: Dividend problem Lets's forget about the dividend then folks, let's focus on the NAV.Are holders happy or otherwise with this "performance" ?.
