The International Speculator, in its Nov. 7, 2014, issue, downgrades Bayfield Ventures Corp. (recently 14 cents) to a hold from a buy. The newsletter said buy seven times between Sept. 1, 2010, and Feb. 6, 2014, at prices ranging from 21 cents to 79 cents. Assuming an investment of $1,000 for each of the seven buys, the $7,000 investment is worth $3,106. The writer says he still expects a takeover from Rainy River Resources Ltd., whose Rainy River deposit in Ontario is adjacent to Bayfield's Burns Block property. (On Nov. 10, a few days after the Speculator's Bayfield update, New Gold Inc. announced a definitive agreement to acquire 100 per cent of Bayfield in a plan of arrangement that valued the smaller company at 21 cents a share.) This month the Speculator's usual emphasis on buy advice has been replaced with holds and sells. It says buy nothing, hold great companies, sell weaklings ... wait "to buy near a new, much lower bottom -- or in a month or two, when the present danger has passed."