Oct

29

The latest from Laurel Kenner

October 29, 2025 |

70++ Trades the Miners
Laurel Kenner

When China suggested Oct. 9 it would strangle rare earth metal exports to the U.S., U.S. mining stocks looked like the easiest way to make a killing since the Internet bubble in 1999.

Being arrogant enough to believe myself among the few who saw the opportunity, I bought a mining stock targeted by Goldman Sachs for a 100% gain.

The stock rose. Then swooned. I sold.

It quickly rose past the earlier high. I bought again. It tumbled below where I had sold the first time.

Greed had led me to forget old investment wisdom. Such as a warning against trying to get even, from Max Gunther’s 1985 “The Zurich Axioms.” Entitled “Stubbornness”, the 11th Major Axiom accurately describes my trade.

I also should have remembered advice from Nick Colas, head of DataTrekResearch, who made his bones at Credit Suisse and Steve Cohen’s SAC Capital. It’s my job, he explained years ago, to know things before they land in the media.

Meaning that if someone is giving tips to news outlets, keep in mind that he inevitably will take better care of his interests than yours.

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70++ Trades the Miners


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1 Comment so far

  1. ANDRE WALLIN on October 29, 2025 3:01 pm

    Also trying to make money the same way twice but i am just a mere mortal what do i know

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