Erik Wetterling – Utilizing Poker Playing Skills To Assess Risk-Adjusted Value In Resource Stocks
Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to unpack how he transitioned his risk/reward assessment skills from being a semi-professional poker player, to how he approaches value investing in junior gold, silver, and base metals mining stocks. We talk about how few investors really take time to consider the improving or diminishing risk-adjusted value proposition when looking at the share-price and market cap in relation to the growth potential or prize in the size and scale of a new discovery.
Erik discusses 2 stocks in this interview to illustrate these points, outlining a previous win by positioning early in Snowline Gold (SGD) (SNWGF) once he understood the potential size of the deposit, and the current setup in Condor Resources (CN) (CNRIF) after their recent community access agreement update to the market.
*In full disclosure, the companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording.
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Glad you liked it Terry!
It was a solid interview buddy.
Loved the application of the poker playing risk-adjusted analysis to speculating in juniors, to stack the odds in one’s favor. For investing, I’ll take that approach over trying to find an unopinionated geologist for each project any day of the week. (although you made some great geological points in that discussion for both Snowline and Condor, so you are becoming a solid arm-chair geo). 🙂
Eric is all in. DT
Agree, Great stuff and thanks Erik for your open discussions of your thoughts and experiences. It really helps, when the risk is elevated, to know how others approach the markets.
+1
Thanks . Bonzo bought Condor 3 years ago@12 cents and am hoping for a big payoff. I also bought Snowline@ 24 cents and am holding on. Good to hear Horseman’s discussion. Bonzo played lots of poker in high school and college. Does anyone still play 5 card draw and 5 or 7 card stud, or Anaconda high-low? I never learned to play Hold’em. I learned the old poker from Oswald Jacoby, John Moss, John Scarne, Bret Maverick, and the Cincinnati Kid.
Poker by Maverick. I had a book entitled something like that. Bonzo, those are some great buys. I picked up some Condor today after listening to HH and QH.
Somehow I didn’t hear about Snowline early. I have a few I’ve picked up along with NFG. I bought Labrador early when I saw they were on the same fault, but they aren’t hitting the same holes. I gave up and rolled it to NFG in another token amount of shares. My Snowline speculation is Tectonic. Will see if it goes better than Labrador.
I wish I had rolled my LAB over into NFG when I still was in the black. But I have a big position in NFG that has big gains. My bug holdings in IRV, ESK, LIO, NVO, NUG, and FFOX are way down, but I am up in GOT and DV.
Now that was good, thank you.