I SEE NO VIEWS ON CORONAVIRUS?

This is a forum where people voice there views. Some people maybe looking for ideas. Clearly you think you are to good to lower yourself. Therefore don't feel obliged to post again.
I will start it off;- legal and general have a lot of life insurance which is reinsuranced so shouldn't be a major problem
On the other hand they have a vast annuity business which would clearly gain from early deaths. I doubt that it will have a major effect on its business though. See below for prices. Profits have increased significantly every year for the last 5 years.

Yeah… So this is posted so I have a public record of me acknowledging and ignoring the idiom that the market can stay irrational longer than you can remain solvent (i.e. you have permission to laugh at me losing money but not jump on my coat-tails with this trade).


… Also that discretionary trades have a habit of costing me money and you should probably take that into account and accordingly this view this with a decent pinch of salt and healthy level of scepticism.


This is the only discretionary trade since heaven’s knows when that I have made not according to the perfectly good system that I have loved, honed and crafted over the past decade so any track record that I might or might not have goes completely out of the window.


Ladies and Gentlemen I present Franco-Nevada (FNV).


I like the ideal of gold streaming at the moment. Basically I want to get gold at a discount and be paid a dividend for the privilege.


Now if the price of oil is low it “should” be cheaper to dig some shiny pet rocks out of the ground. In the medium-to-long term what are people going to use to preserve purchasing power? Comparatively the gold market is tiny, especially if a ****load of cash gets printed. This will remain true irrespective of whether you want to spout a 5000-year history of gold or think it is obsolete (and assuming no one finds a cost-effective way of extracting it from the oceans in the next 5 minutes).


So I’m not going to lie – I’ve jumped the gun and got absolutely thumped and am down about 20%. I’m down 20% on this position because the rest of my portfolio is working. I’m assuming that I’ve run into a wall of paper gold being sold (which is my fault for not seeing that coming), if I’m wrong I have a line in the sand and providing we’re not limit-down my stop will take me out of the market… and I’ll go off and sulk.


If I’m right in the medium-to-long term I "have" cheap (IF you buy into the streaming idea not just a glance at the P/E) gold with a dividend.

As long as NAV is well above shares issued there is little chance of big hit. Go for funds of funds for stability. 

Good point
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