March 12, 2010
Published by Kuppy at March 12, 2010
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By now, you know that I like get to know management. When investing in smaller companies, you are really just investing in people. When you are risking your own money, you can never know enough. There’s nothing like alcohol to ferret out the truth. I was at an industry conference to learn more about a company that I owned a small position in. The Read More
Categories: Investments
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March 7, 2010
I had owned the stock for years. I liked the business, I liked the assets and in particular, I really liked the CEO. He was a hard worker and he had the bags under his eyes to prove it. He lived and breathed his job. I remember seeing him at an industry party with the same bottle of warm beer for hours. He wasn’t Read More
Categories: General
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March 7, 2010
Published by Kuppy at March 7, 2010
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When you are investing in a mature company, you are investing in a brand. You are investing in a business. For the most part, unless the guy running it is a criminal, it just doesn’t really matter that much who is in charge. Even if the CEO quits, there is a strong pool of talent to choose from and it is unlikely that a Read More
Categories: Investment Strategy
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March 7, 2010
Quick, what’s the world’s worst investment sector? Airlines? Autos? Biotech? Give up? Junior mining is way worse. Airlines limp on for years in quasi-bankruptcy—so do autos. A few companies like Toyota even do well. Biotech companies sometimes find something interesting. Even if your junior mining company finds something, you still will probably lose money. Junior mining companies span the universe from a guy with Read More
Categories: General
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February 16, 2010
Published by Kuppy at February 16, 2010
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In Part I, I made the case for mining services companies and in particular for those that are focused on greenfield projects. Now, I want to talk about two companies I own, Aeroquest (AQL: Canada) and Energold (EGD: Canada). To summarize what I wrote in Part I, the mining industry is not spending enough to replace annual depletion, much less grow production. The majority Read More
Categories: Investments
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