Friday, September 29, 2006

My Portfolio

Today, I withdrew a whole bunch of cash from my Canadian ING account and bought Cameco (TSX: CC0) and Yamana Gold (TSX: YRI) as long term holdings, thus breaking my rule about having 50% of my assets in cash at any given time. This lowers my cash balance to approximately 30% of my net worth. I figured that I'd rather put my money at where my mouth is, instead of collecting the 3% interest that ING Canada pays me for having money in the savings account.

Below are the stocks that I hold. My holdings are extremely undiversified (all in the commodities space). Since I am young, and have a job that pays me a decent amount of money, I figured that the money I have saved up/made from trading probably doesn't mean that much (I'm not planning to buy a house any time soon, especially since they are so expensive in the Seattle area). I'd rather focus all my money in one space and take a risk, especially since I believe so strongly in that space.

Baytex Energty (TSX: BTE.UN) 27.2%
Cameco (TSX: CCO) 23.7%
Mega Uranium (TSX: MGA) 14.8%
Yamana Gold (TSX: YRI) 12.0%
Fording Coal (TSX: FDG.UN) 11.5%
International Uranium Corp (TSX: IUC) 10.8%


I bought Cameco because I truly believe uranium is one of the safest things you can hold, with Cameco being the safest because they are the largest, and most diversified uranium company. I don't think uranium has gone down EVER in the last 5 years. If you buy gold or oil, they go down from time to time, but uranium NEVER goes down. With the pricing power of uranium still extremely strong (the cost of uranium is negligible when runing a nuclear power plant), the uranium price can probably surpass $200 in the coming years (currently it's 54). Since Cameco has basically stayed flat the whole year, I don't mind buying and holding, even though it may not move for a while.

I have to admit that commodities are making me nervous. If the economy slows down, demand for commodities will fall a lot and hurt their pricing power.

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Anonymous Anonymous said...

Buying Cameco now?? Did you not hear that Cigar Lake flooded? Of course they say it will only be a one year delay. However, I know for a fact and knowing people there, they will have to announce in the near future a multi-year delay and probably downgrade if not sterilize several billion dollars in reserves. Plus it will cost them at least $200-$500 Million or more to get out of this mess. Their press releases don't say much at the moment but it is only a matter of time... The good news is this will drive U prices and every other small stock will benefit.

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Anonymous Market Rider said...

notice the date of my post. It was way before Cameco announced the Cigar lake flooding. Having said that, I agree that the smaller caps are the way to go (that's why I have IUC and MGA). I am looking at adding more smaller caps, and will trim back my Cameco.

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