Fortuna Silver

Fortuna is a great company that has delivered to the bottom line better than almost all other silver producers right through the 2011-2015 downturn. Management excels at finding and building mines, under-promising and over-delivering as they go. I was excited to add this top silver pick to my portfolio when the company started building its world-class Lindero gold mine in Argentina, as it would greatly boost Fortuna's production, and bottom line. But given the run for the worse in Argentine politics this year, I have regretfully decided the risk is too great, and exited my position. I sincerely hope to be wrong about that, and would consider buying back in again if the new government turns out to be more pro-mining—and sane—than currently feared. For now, I'm taking my lumps and getting out of potential harm's way.