Just remember guys, I probably have more % of my portfolio in this stock than anybody on this board.. And I privately manage my entire life savings. Basically, (with new purchases recently) I have about 40% of my entire net worth in CLF. Not to say I'm rich, just that most of my (limited) wealth is in this stock. The potential here could literally change my life (for good or worse)
If I'm not excited, none of you should be :P
Let's see it close above $21. Then I'd be excited.
I never exceed 25% in any one sector and usually when I get to 20% (oil stocks), I stop regardless of how cheap they are. I personally wouldn't put 35% of my portfolio in annything but if I did it would be a big, large cap name that paid a great dividend. IMHO.
Sentiment: Strong Buy
"I stop regardless of how cheap they are"
Personally, I think that is a very bad attitude to come at investing with. What's life without a little risk? If I see a company like CLF that I think is enormously undervalued, I make a BIG bet.
Over the years, I've frequently only had 1 or 2 annual holdings. These 1 or 2 are how I make the big $$
I experience losses very, very, rarely. It is true that when I do, though, the losses are quite substantial.
Good luck to you.
Don't feel bad. I have 100% of my portfolio including my personal and 401K account in the company. Betting the house has turned out well for me in the past. Also I do lots and lots of D&D before I do something like this. This is the most tantalizing opportunity I have come across. Plus it has some assets (Decar & Ring of Fire) that could triple or even quadruple the price from here. Plus it gives a dividend for waiting. The only problem is the company is in disarray. It over leveraged and now has to pay back the money. But all in all the assets it bought were first class, except for Wabush.
This individual is a prime example of "background noise". As useful to an informative dialogue as screeching nails on a chalkboard.It depends upon the time frame. It comes and goes. It was headed down when I posted. Right now it is down 90 cents. I expect it to rise long term.
I am not that high but, I have quite a bit into this as far as a percentage. Probably about 25%. I have known CLF all my life. Remember seeing the ore ships down in Cleveland as a boy. These cycles have happened before. Glad I was not in this from the 90-100$ range. That would suck. Freeport was up nice on Friday here as well.
In his first year out of Business School, Warren Buffet put 60% of his net worth (that's NET WORTH, not just "portfolio") into a single stock- Geico.
I don't believe in diversification. I believe in due diligence and valuations. I don't own many stocks, but the ones I DO own I have spent a long time (sometimes 6 months+) carefully watching, analyzing, and pouring over financial statements, guidance, macroeconomic trends, etc...
It's worked well for me in the past ;)
I have never in my entire career of investing come across such an opportunity as I believe presents itself here with CLF.
I had already independently valued CLF at around $42-48/share before I bought a single share.
This means my margin of safety is a whopping 55-60% !!