Thursday, March 03, 2011

Out with GOOG and in with NGD!!!

After listening to Pierre Lassonde on King World News, I decided to sell my 2 shares of Google and buy an equivalent amount of $s of New Gold shares at $10.11/sh.

I don't have a bear case for Google; it's still my "search" of choice, but I just don't have a really bull case for it.  And I had already held my shares of GOOG for more than 366 days, so my gains qualified as long term capital gains.

Lassonde makes a pretty good bull case for New Gold.  Gold itself is returning to it's proper place in society as a money - or so the people selling gold for paper are telling us.  Central Banks are printing, so gold is "rising" (it's really in part just holding it's value against other commodities, BUT it's rise, according to others, is also due to it's 're-monetization'.).

Lassonde makes a good case for Franco Nevada Corp, which I think is this stock.  I'm looking to buy.