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September 10, 2012

Castles In The Sky


Having spent much of the last two years living in a frontier economy, I’ve learned a thing or two about how to succeed in business in a less developed market. In particular, two traits of successful businessmen stand out. To start with, a healthy dose of common sense is needed. I’m not talking about the book learning that you get at a fancy business ... Read More
Categories: Investments
Positions Mentioned:
September 5, 2012

The Drillers Aren’t Going Bust…


We all know that the stock market swings wildly between manic periods of fear and greed. Nowhere are these swings more severe than in economically sensitive companies. Normally, these swings make sense. Every once in a while, I just shake my head and say “wow, fear sure is one strange emotion.” Anyone following the junior mining space has known that juniors cannot raise capital ... Read More
Categories: Investments
Positions Mentioned:
August 7, 2012

Gold Bottom??


Has it bottomed? Is this it? Of course, I’m talking about gold. I don’t know if the bottom is in, but I think we’re getting close. How do I know? I don’t. However, I am a huge believer in sentiment. Sentiment is just absolutely awful. Courtesy of Lance Lewis at www.dailymarketsummary.com Essentially, a collection of newsletters that are marketed to gold investors are suggesting that ... Read More
Categories: Investments
Positions Mentioned:
May 14, 2012

Frontrunning China’s Insatiable Demand For Gold….


I like investing in commodities because they’re very simple to understand—it’s all about supply and demand. Naturally, I take a very strong interest in the increasing demand for gold coming out of China. You see, in the short run, the paper markets (leveraged traders) rule the day. In the longer run, the physical market is all that matters. In the past few months, we’ve ... Read More
Categories: Investments
Positions Mentioned:
April 24, 2012

Will The Gold Miners Ever Bottom…??


According to a friend, “Since XAU was first invented in 1984, there have only been six days when the ratio of XAU to spot gold has been lower than it was at this morning’s bottom; all of those six days occurred during October-November 2008. The extreme unpopularity of gold mining shares is striking especially when compared with the eagerness of average people to consider ... Read More
Categories: Investments
Positions Mentioned:
April 18, 2012

Energold Q4–Just Fine


Energold reported earnings about two weeks ago. Since then, I have received about a dozen emails asking “my thoughts.” Look, if I have something to say, I’ll say it. I didn’t even bother to delve into the earnings report until yesterday. If you live and die by one quarter, you will get chopped to pieces. I own things because of long term macro themes—not ... Read More
Categories: Investments
Positions Mentioned:
April 12, 2012

YENd of an era….


A few weeks back, my good friends over at Capitalist Exploits did a very long and detailed piece on Japan. For anyone who is living in a cave, the Japanese Yen is about to begin a multi-decade bear market. Of course, one could have made the same arguments a few years back and been painfully early. However, I am increasingly starting to think that the top ... Read More
Categories: Investments
Positions Mentioned:
March 26, 2012

XAU to Gold Ratio Beckons….


What’s the most despised industry sector in the market today? Solar stocks? China frauds? Sure, you can average down on these to zero. What about a real industry that’s starting to finally hemorrhage cash flow? After a decade of continually disappointing investors, large cap gold stocks are finally cheap. The XAU has been consolidating for two years now. Is it ready to go higher? ... Read More
Categories: Investments
Positions Mentioned:
December 20, 2011

Year End Position Updates


I had originally intended to post quarterly position updates. Somehow, that practice died when I moved to Mongolia. Since most of these companies do not change rapidly, I figure a yearly update is just as good. For the most part, I intend to hold onto these for years anyway. So here goes; Andean American Gold    (AAG: Canada)   Mention Price $0.56   Current Price $0.255   Return ... Read More
Categories: Investments
Positions Mentioned:
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