With Contrarian Miner down a further 4% in the past 2 days to £87,338 it is tempting to lose faith. The portfolio has lost 13% of its value in less than 2 months with the worst performing stock (Anglo American) down a massive 47% and BHP Billiton (-30%) and Lonmin (-28%) not far behind.

So a bit of welcome perspective to cheer me up a little. The FTSE 350 Mining Total Return Index is down a whopping 27% since I launched Contrarian Miner on 3 November. Despite my 13% loss I have actually outperformed my benchmark by 14%! Chart below.