Yeates treads water to take lead as market slides
Week three of the five-week Shares Race sees Fairfax business reporter Clancy Yeates move into first place with rare-earths miner Lynas, his best pick, with his original $10,000 in the stock worth $13,588.
Yeates holds Kidman Resources, the copper, gold and rare earths miner, which is worth $11,916, down on last week’s $13,364.
The top picks are lithium and rare earths miners. The elements are used in everything from rechargeable batteries to electronics manufacturing.Credit:Photo: Phil Carrick
Yeates has managed to tread water while the others have gone backwards as the market dropped back this week after lifting last week, with his total portfolio worth $107,432.
Lynas, which remains the best-performing pick of all, is also held by third-place holder Richard Pritchard, who plays as the Chartist, with a total portfolio worth $104,489.
Amanda Blines, a Money reader, moves to second from first place, with Orocobre, the lithium and borax, remaining her best pick with her original $10,000 in the stock worth $13,184 – the second-best performing stock of all.
Share racers endure tough market conditionsCredit:Fairfax Media
Galaxy Resources, a lithium miner, is another of her good performers, with her original $10,000 in the stock now worth $11,918, although that's down from $12,740 last week, to take her total portfolio to $106,324 from $108,901 last week.
As of the close on Thursday, the cut-off for the Shares Race, the S&P/ASX 200 finished the week at 5736 points, down more than 3 per cent.
Shares Race is a fantasy shares game. Players start with $100,000, divided evenly across 10 stocks.
Writes about personal finance for Fairfax Media, Sydney, Australia.
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