I learnt my lesson in the last big mining boom of the 70s which left me with empty pockets and a pile of worthless share certifcates. The Kambaldas and VAMs and, more recently, PASMINCOs of this world have left a sour taste in my mouth. All I am holding now are the bluest of the blue-chips, with just a minuscule sprinkling of the odd hopeful such as rare earth in Australia and copper in Botswana (and a few Bougainville Copper shares for sentimental reasons).
However, for a bit of light reading, I still subscribe to a speculative newsletter which doesn't cost me much while giving me a lot of entertainment. Yesterday's edition, released after the stock market had closed, had another 'hot tip' which, ever so predictably, meant that said stock jumped 28% this morning.
I sometimes wonder whether those newsletter-publishers make their money from their subscription rates or from the shares they write up!
Of course, the newsletter always comes with the footnote, "Although it would be enjoyable to invest alongside you, it is more important to me to avoid any conflicts of interest. Therefore I own no shares in any of the companies currently recommended."
Far be it from me to suggest anything untoward, but I do notice that it doesn't say, "I and my family and my friends and my drinking-mates down the pub own no shares in any of the companies currently recommended."
