Phantasmix Stock Market Blog

I feel like doing some math today:

• Silver Wheaton should have 40,000,000 ounces of silver to sell in 2013
• Their cost is $5/oz
• With spot at $34 like today, that’s $29/oz profit, or $1.16B
• With 346MM shares outstanding, earnings would be $3.35 per
• At a modest 20 P/E (yes, modest for the sector and for their business model), share price would be $67

Currently at (SLW: 24.63 +0.41%)

I wanted to buy more SLW (silver) but didn’t have the cash. Right now I’m trading the tax-free account and there’s an annual limit to how much I can add there. So, I got out of the XLF trade for a total profit of $3.20, and added SLW.

I added SLW twice since the initial buy-in on Feb 7. My ACB on it is $35.58. [ edited to add: current price (SLW: 24.63 +0.41%) ]

A note on options: XLF options are fairly priced and track the stock very very well. Surprised me. SLW options are lagging behind. Didn’t surprise me

What’s up with the dollar? I still have some US$ left, should I just convert it all to Cad$?

This is from the UK:

And this is from the US:

a bit outdated

In Canada, we will probably have the same but with a bit of a delay.

I squint just thinking about another potential “double dip” in the economy. Lots of people around me are getting that glint of hope in their eyes again, work is starting to pick up. Would hate to see these “green shoots” destroyed by the second wave of mortgage defaults.