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2/2/19

Economic Alpha does Kirkland Lake (KL)

Luis over at Economic Alpha has followed and covered Kirkland Lake's rise to precious metals mining stardom in impeccable style over the last couple of years and in this post today, gives us an update on what he thinks happens next and what to do about it. It reminded me of that famous Jesse Livermore quote, so I went off into interwebnetpipesworld and found the extended version:

"After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. I've known many traders who were right at exactly the right time, and began buying or selling stocks when prices were at the very level that should show the greatest profit. And their experience invariably matched mine. That is, they made no real money out of it. Traders who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make the big money."