Quote:
Originally Posted by 4444
Or time to double down on mining, and not look at them for 2-3 years (or whenever we get li quite back into juniors)
It's been rough as fuck for the juniors and majors of late, and the job market, so rough in mining right now
|
great time to buy but there are other sectors equally as dead.
I look for industries where the company/stock price/market cap have yet to return to their pre-crash levels. Mining is one. Gambling is another. My LVS shares have been on a tear (purchase at the 30 level). Gambling is where all the cash is going right now. It makes sense as the largest population in the world gives us the largest number of problem gamblers. Macau is constantly hitting home runs. More casinos will come online in Asia but they're dependent on the China gamblers and China actively restricts travel. SG has yet to hit a home run so the new casinos due to come online in Phillippines, Taiwan, Korea and Japan may suffer from the same SG risk. There are also companies building casinos along the Russia/China border to take advantage of the China crowds. Everything is dependent on the China govt and for the time being it is centered in Macau. I have been trying to buy MPEL and more LVS (over $70) but they have had huge runs. LVS is still trading off its 2008 highs ($150) so the decision to double down on the mining stocks makes the same compelling argument.