Today I increased the portfolio’s Novagold position by 50% to 0.3% of the portfolio. As Novagold declined about 20% since my initial purchase I have decided to add to the position as I find the stock even more undervalued now. The portfolio’s total exposure to precious metal stocks is now 1.8%.
I still believe that there is significant downside risk to gold, silver and precious metal stocks so I look forward to increasing the portfolio exposure if declines happen. I believe that the total exposure might go up to 5% until a final bottom is formed in this sector.