Three common mistakes made by hard assets investors...

...and how to avoid them.

Jim Letourneau, P.Geol.Big Picture Guywww.JimLetourneau.com

I used to be indecisive.

Now I'm not sure.

#1 - Commodity ConfusionWhen you buy a junior exploration company, you are not buying the commodity.

You are buying a share certificate! They can go to zero. Commodity prices dont.

#1 - Commodity ConfusionPounds in the ground?

They aren't worth anything until they are sold.

Management focusIs management collecting lotto tickets or are they advancing/condemning projects?

#1 - Commodity Confusion

Many studies have shown you are better off buying commodities themselves rather than commodity stocks unless you are a very good stock picker.

Jim Rogers

#2 - Not Doing YOUR Homework

Management - fantastic idiots?Broad market trend?Cash positionsMarket cap vs peer group

#2 - Not doing YOUR Homework!

"News"IR FirmsChat roomsRead DisclaimersNews articles don't count!!!

#2 - Not Doing YOUR HomeworkSystem for Electronic Disclosure by Insiders (SEDI)

www.sedi.cawww.candianinsider.com

System for Electronic Document Analysis and Retrieval (SEDAR)

www.sedar.com

Corebox - www.corebox.net

#2 - Not Doing YOUR HomeworkNYSE Euronext - www.nyse.com

NASDAQ - www.nasdaq.com

SEC - www.sec.gov

#2 - Not Doing YOUR Homework

When you lose money you should know why you lost it.

#3 - Accepting Tips and Touts

I know from experience that nobody can give me a tip or series of tips that will make money for me than my own judgement.

Jesse Livermore

Conclusion

Every investor makes mistakes. Successful ones will realise their mistakes and take action.

ConclusionYou can never outsmart the market, if that's what you're trying to do, find something you love, for reasons you understand, that not everyone agrees with you about, and put your money in it.

GENE SISKEL

www.JimLetourneau.com

Jim Letourneau, P.Geol.Big Picture Guy