It can certainly get lonely working from home and trading the markets. Combine this with the fact that markets are currently getting smashed and the desire or will to make purchases is certainly reduced. However, this has provided me with time to reflect on where I am and where I want to go.
Firstly I want to say that I am happy with the stocks that I have incorporated into the portfolio and remain confident about their long term potential. This is not blind confidence, but is based on the research I have conducted into the company, the industry and potential financial return of their activities. I will be the first to admit that their share price performance has been dismal lately; however I must not forget the reason why I am investing in these stocks. I am not looking for 10, 20, 30 or even 50% gains. I am investing in companies which I believe have the potential to deliver 2, 3, 4, 500%+ returns and obviously it takes time to deliver on those goals and aspirations. Nothing has changed fundamentally for any of the companies in my portfolio, hence there is no reason to sell.
Sure I could have held off and purchased more stock at a lower price, but that is like saying I should have had a crystal ball. Everyone knows the global economy is not strong, but that did not stop us rallying off our GFC lows, nor would it stop the likes of OBJ signing an agreement that could potentially deliver millions in revenue.
So without much happening with the markets in the short term I have been given the opportunity to really think about what I am doing and where I want to be. And it is certainly right where I am at the moment; however I have realised the need to really apply myself and further strengthen my skill set. As a result I have been looking at online and short courses in the mining industry. I basically want to understand everything there is to know about mining, geology and what makes these companies tick. Sure, I have a good general understanding at the moment and can decipher reports and conduct financial analysis into projects and companies. But I want to take it to the next level. I basically want to be able to talk to a Mining Engineer or industry veteran and be able to hold a technical conversation for an extended period of time.
This will obviously take time and money but it is something that I am interested in and if I am able to bolster my industry knowledge and combine that with my financial modelling then I feel that I will be able to research more companies, conduct additional analysis and be even more comfortable with the investment decisions I make.
Since I have started my search for some online courses I have come across a number of great options. But first up I would like to extend my thanks to Jamie from http://www.miningman.com/ who was kind enough to provide some online links and additional information. For anyone who is interested in the mining industry or project management I would recommend that you check Jamie’s site out. Jamie also provided me with a link to the “Smartminer” course which seems like a great option at a reasonable price. Through my own research I also came across infomine which has a section titled EduMine. I need to clarify their total costs but it appears as though you can gain access to over 120 courses covering a whole range of mining topics for as little as $40 per month, plus a small sign up fee. It certainly seems like good value and if you are based in the US or Canada you can pay an additional fee and received certification and continuing professional development points.
Anyway that is just where I am at the moment, committed to the blog, my investments and further education.
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