Yes I was a big MCP booster owned them since IPO , and added. About the June ’11 looked at a smith presentation saw his demand curves with a sharp knee at end of 2010 from demand declining to increasing. Basic economics says this does not happen to real demand for raw materials except when speculation is involved or something like war. Sold all my MCP and about September started buying put and call straddles unfortunately I biased them on the up side so I made money but not nearly as much as I could have with a negative bias. Only mistake is I also bought GWMGF and Lynas. Lost a little on GWM when I sold a few months latter made a little on Lynas. Sold Lynas in January when construction slipped third time for strange reasons nothing to do with Mylashia Politicks. As far as being biggest loser MCP reached a high of $70 and is currently selling for 7.43 10 % of its high. GWM had a high of about 1.20 and is currently selling for 0.30 25 % of its high but MCP still has positive net worth after subtracting out intangible assets and GWM is in the hole. IF you are going to use MCPs troubles to justify GWM you are not going to be happy. I fail to understand people that would hold a bad company because someone in sector is worse.
There are not many individual investors that can say that the REE space has been one of the most rewarding investments they have had. I can. I had a 3 x gain on my Long investments in MCP. I want to get back into REE space but right now there is not a company in the space I would buy, short or touch in any way.