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Had to be him. Impossible to choose just one. Had to choose just one:
UPDATE: Reader 'RR' mails in (main excerpt):
"...the more IKN haters the better. Winston Churchill said "You have enemies? Good. That means you've stood up for something, sometime in your life.""
Maintaining our short gold recommendationOur short gold recommendation (which we opened with 17% upside, in line with our $1000/toz 12-m forecast) is currently at a 3.3% loss, with a stop loss at 7%. The initial gold rally was driven by concerns regarding global growth and asset price volatility, and corresponding dovishness by the Fed, which saw gold outperform. More recently risky assets have rallied sharply, and gold has underperformed, as sentiment surrounding Chinese and global growth has improved, and as the market continues to price a dovish Fed.Going forward we expect that recent and upcoming US data, supported by easing financial conditions, will likely result in a more hawkish Fed, higher yields, a stronger US dollar, and the return of divergence. This in turn will likely put downward pressure on gold prices towards our near-term target of $1100/toz (current price is $1248/toz). Indeed, gold has very limited near-term upside in our view, reflecting a limited ability of the Fed to surprise on the dovish side - the market is now only pricing 22 bp of rate increases during 2016, and given very high levels of gold net speculative positioning and ETF holdings.
TORONTO — The TSX Venture Exchange is overrun with more than 900 “zombie” companies with negative working capital, according to a new study.The research comes from Tony Simon, co-founder of the Venture Capital Markets Association and a frequent thorn in the side of TMX Group Inc.’s management team. By Simon’s calculations, there are 910 companies on the Venture that are not meeting capital requirements for listings. He said the combined working capital of these companies, which are nicknamed “zombies,” is negative $4.2 billion.“It’s a real mess,” he said in an interview. continues here
"The stocks I recommend are what I am buying. The Maven portfolio is my portfolio. I do not buy a stock before I recommend it and I do not sell before I say. I only participate in private placements of stocks that are already in the portfolio.
I rely on a few other people to help me with this endeavor. First, like any good professional I have a network of friends and peers off of whom I bounce ideas and questions when I come across something I don’t understand (which happens with good regularity!). Second, researching and writing this letter, operating the business end of things, and corresponding with subscribers takes up all of my time. As such I have someone who helps me with marketing my letter and I work with a group of people to put on the Metals Investor Forum.
None of these people know in advance when I will recommend a stock. Certainly none of them have a say in which stocks I will buy. If some of them are invested in the same equities, great; that means we see similar opportunities. But their investment accounts are separate from mine."
But when I woke up this morning could have sworn it was judgement day.
A sad day.
PS: A very good obituary in the Graun, here.
On Sunday, pollster IPSOS called it 44% PPK, 40% Keiko.
This morning, pollster CPI called it 43.6% Keiko, 41.5% PPK.
Take your pick. For what it's worth, subscribers of The IKN Weekly know my opinion clearly and I'm pretty sure one of those polls is way too truthy for its own good.
UPDATE: Some music to accompany...
I see you baby...
A small segment of this week's edition of The IKN Weekly:
Colombia: Government versus Paramilitary at BuriticáLast week we reported how the far-right wing “Urabeño” paramilitary group (also known as the “Úsuga Clan”) had issued a formal death threat communique against personnel of Continental Gold (CNL.to). This week we note that the Colombian government has not been slow to respond: Firstly, in several actions against the paramilitary group the government claims to have arrested (9) 135 Úsuga members including the people responsible for the murder of three police officers at the end of last month (at the same time, a separate grande attack in Buriticá left four police officers seriously injured (10) (11). Secondly, President Santos has named the head of the Úsuga/Urabeños clan, one Dairo Antonio Úsuga David, as the country’s most wanted man and doubled the reward for information leading to his capture to 3 billion pesos (U$1m and loose change).The Santos government is playing hardball with the threat posed by this paramilitary group and as part of the back-story, we’re now getting another raft of “illegal gold trade now worth more to criminal groups than drugs trade” articles, a theme that comes round on occasion and is complete BS of course, but there’s no doubt the criminal bands are behind at least some of the illegal gold mining activity and they’re using it to help launder their ill-gotten gains. In sum it’s a situation that may or may not turn out well for CNL.to and we certainly applaud the Santos government for not backing down. They’re doing the right thing by confronting the Úsuga/Urabeños but the reality of today’s situation must also be recognized; the political and social risk of working Buriticá continues to be off-scale high until the problems are resolved.Don’t expect to read or hear about this in any of the CNL corporate presentations.
"I saw Gwen Preston and Scott Gibson staying there for hours as we were tired and chilling out for at least 2 hrs. They were not with anybody else. Only two of them apparently in serious discussion and planning. This I can say for sure as we were seated very close to them."
UPDATE: Reader "C" chimes in after visiting the Gwen Preston website:
"What really makes me wonder: In Canada you really can say things like, "I do not accept money or shares from companies in exchange for coverage." (source) and then pumping a stock hard while a company you are working for does?"
PS: Anyone else notice the lack of skin in the game at PPP? The directors of this company own very few shares.
It's now nearly six months since the accident at Tahoe's Escobal mine that claimed the life of one of its employees, but TAHO still refuses to tell anyone.
GMO reports that Keith is after ME.to, right here. Nice "creating unemployment" quote, too.