I do, and on the basis readers may find it helpful, here it is.  Note that I apply this same process irrespective of what industry sector (including non-resource sectors) a company I decide to ‘get serious’ about falls into.

First, I attempt to identify and do initial research on a company I think might be an interesting investment by using one or more ‘Research Websites’ and a combination ‘numeric, factual, subjective, and in the end intuitive’ screening process I have developed.  The criteria I use when ferreting out prospective Junior Gold Exploration Companies, for example, are summarized in a Post I will be making later today to this Investment Education Forum (see my answer to the Question ‘What are the main drivers I should be looking to when researching a junior gold exploration company?).

Second, if I find such a company I buy a ‘starter position’ shareholding in the company – usually about $1,000 - $3,000 worth of stock depending on the price per share.

Third, I develop a series of questions I have about the company that have resulted from my preliminary due diligence work.  These questions often relate to its Board, the company’s option strategy, its management, its overall strategy, its monthly cash ‘burn rate’ if it is an explorer, and so on.

Fourth, I call the Company’s President or Investor Relations Executive.  I prefer to speak directly with the President, but recognize that with larger companies that is not always possible.  I always introduce myself as a shareholder, which by then I am.  I have never found a single Company Executive who was unwilling to talk with me, or who was disinterested in the conversation.

Fifth, during the course of that conversation I reach a conclusion as to how interested I am in investing in the company.  If I am not interested based on the conversation, I simply thank the Executive for their time at the end of the conversation and sell the ‘starter position’ shareholding I had previously purchased.  If I continue to be interested in the company as an investment I buy more shares – the number being dictated by how attracted I am at that stage to the company as an investment in the context of the balance of my portfolio holdings at the time.  If I am extremely attracted to the company as an investment, during the course of my telephone conversation I arrange to meet with the Executive I am speaking with – which of course may entail air travel.  I have never had an Executive refuse to meet with me.

Sixth, if I meet with the Company’s Executive I completely reassess my then investment in the company and either sell it, hold the shares I then own, or add to the position.

Seventh, I continuously monitor my Investment in the company by following its Press Releases carefully, its day to day share price and trading volumes, etc.  Since I have established a ‘relationship’ with one of the Company Executives through a telephone conversation, or a combination telephone conversation/visit, I infrequently call that Executive with any further questions I have.  I am very careful in this regard to limit the number of such calls, so as not to add to the ‘nuisance’ calls these Executives receive.

Eighth, through my continuous monitoring process I am continuously assessing a ‘sell price’ for part of, or all, of my investment.  I do not become ‘married’ to any one investment, and don’t hesitate to take losses if I become disenchanted with an investment for any reason.

Ninth, I think continuously about two ‘Cardinal Rules’ I believe in:  (1) any day I don’t sell an investment is the day I ‘buy it’ all over again, and (2) I work to eliminate the ‘greed factor’ – and when it comes to my investments that are doing well I can assure you I am every bit as guilty of getting caught up in the ‘greed factor’ as anyone else.

A final comment.  When I have described my investment process to people who have asked me if I have one, many say they couldn’t follow such a process because they don’t have the ability to do that, and in any event wouldn’t want to appear to be ‘stupid’ when asking questions of an Executive.  While I can’t change people’s psyches, I suggest readers not ‘sell themselves short’.  The people on the other end of the phone typically are decent, hard working people with a real interest in what they are doing, and in their companies – and love to talk about both.