IKN

Hereditary sloth instructs me

Canadian brokerages are not part of the solution for the mining industry

They’re part of the problem:
I chose these eight roughly at random by dialing up reports stuck in my mailbox in the last few days and checking at the end of each one, to see what percentage of each house’s universe was rated “sell” or “reduce” by the Canadian brokerage or securities firm in question*. I could have added more houses but I got bored after the first eight, the pattern’s clear enough.
The result: They rarely call sell. So why should that be, when faced with the cold hard reality of what the mining sector’s been going through? Your multiple choice options are
  • No balls
  • No idea
  • No education
  • Corrupt
  • All of the above

*NB; note that houses such as Macquarie or Canaccord were rated on their Canadian ops alone, not Australian/UK/USA/etc branches or sectors other than mining.

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