Friday, November 28, 2014

More on being an unemployed bum


It's amazing how much the stress has just melted away, now that I'm an unemployed bum. Engineering is rather stressful, if you let it be, which I did.

Anyway, I'm not making any decisions what to do next right away because I still have a 5-figure severance coming my way.

But I was thinking about going to university and getting a second degree, in economics. I'd probably be interested, if such classes even exist, of studying commodities - especially that wacky Libertarian shiny one that you and I love so well.

Pros:

1. Canada is the world's miner and the world's exploration capital market (suck on that, Australia!), so I already live in the perfect country for a degree focusing on metals economics. Hey, at worst I could still go work for some dump like Dundee. Though I look like crap in a suit.

2. Even Ben Bernanke himself recently said that nobody has a clue what really makes the gold price do what it does. If you've been reading along these past few years, you know I have opinions on the topic, and I'd love nothing more than to study metals pricing at university to get a better understanding. And if nobody else is working in the field, bam! I gots me instant territory.

3. I could write a book, as an economist, on precious metals. You know I can write, and write well. And maybe by then the gold bull market will be back on, in which case I'll be able to sell lots of that book.

4. I've spent years mocking newsletter writers for having utterly no understanding of economics, right? Well, maybe if worst comes to worst I can write a stupid paid newsletter as an economist. A sane one. Well, okay, a vaguely sane one.

5. I'm an information sponge, a lifelong learner, and a compulsive arguer. That alone could carry me through to a Ph.D.

Cons:

1. Economics isn't a science, it's politics masquerading as science.

2. The whole economics world is still ruled by the Chicago School and the Austrians - sensible Keynesians like Krugman are still thought of as loonies braying in the wilderness.

3. It'll take 2 years of my life to get a second BA.

Cons 1 and 2 are bearable, I think. Meanwhile pros 1, 3, 4 and 5 leverage my personal situation and my personal strengths. I think it's a good plan on balance.

I'm not making any decisions just yet, but this is an option that came to me right away.

The sensible mainstream alternative open to me right now is moving to some dump like Markham and getting another engineering job, and many of those companies are meat grinders.

We'll see what I choose.

In the meantime, I feel very good about having dumped all my junior miners yesterday. Discipline with the EMA and ability to jettison a narrative in the face of conflicting evidence means I made enough money on this advance.

I have 40% cash right now, but might wait for a couple down days on the US market before I deploy. $VIX was a bit low yesterday and has come back up now.


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