Mining stocks- I hear you Richie- traditioanlly miners are for levrage to metal, but part  the theory why they haven't preformed is that new etf vehicles have taken signficiant market share. For core exposure I hold GTU for gold & CEF silver.  Still have best of breeds like GG . Capex & labor costs do count. AEM to woodshed when it had to lower reserves on a mine that took on water & stopped ops  also KGC has been a disater on fundamentals.   As for baffled  NEM was rec'ed by the Barron's  Round Table a year ago  & it's bascially the same price today- so you're in there with the industry best on being baffled.