The Alchemist began investing in 2007, and has lost money in both 2007 and 2008. However, he noticed that he lost less in 2008 than 2007, and further analysis showed that timing was an important aspect as well as currency hedges, and the collapse of the U.S economy itself provided a hedge that helped to limit the damages. Realizing that a bottom had been reached in February 2009, the Alchemist re-entered the market, yielding 100% in less than 6 months, recovering from both 2007 and 2008 losses. The Alchemist employs a cross hedging strategy using the Canadian currency and the TSX (as a play on commodity), Chinese ADR and the U.S market. A snapshot of the Alchemist's portfolio can be found on his blog, which is updated periodically to reflect the latest portfolio mix.

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