Pays a higher dividend than securities in it by paying back some of the capital. So it is not a pure dividend. See their web site for details. Thinks the dividend is actually in 4-5% range and rest is return of capital.

He doesn’t follow it. In general he looks at upper $1400s to lower $1500s for gold prices in the coming year. We are in a trading range. Something needs to come along to change that.

Coal is not clean compared to Nat Gas but it is the cheapest source of the BTU. It will be here for a long time to come, but will get used less and less over the next decade.

The valuation is attractive here. A 3 to 5 year play on Nat Gas, which will be a growing part of the future and supplies are massive for the next 100 years. Accumulate the stock.

We are not early on insurance. If we get back to $35 then risk reward starts to get more compelling. Wait for a 10% pullback.

They’ve done a great job, but it may be hard to create profitability. It is a challenge that they may not exist in 10 years. You could enter if it got to liquidation value.

Good dividend at 5.3%. Cap-X level is high but there is good cash flow. A very defensive sector. It is going to grow over the long term.