Take physic, pomp

Here’s one for mining CEOs looking to attract new cash to their businesses

A friend of mine is owner of a small specialist financial house that provides analysis to third parties as well as running its own funds. He covers EMs a lot, his funds run money through world markets large and small, he’s good at what he does. In his monthly letter today, after musing a while on gold this is what he had to say about gold stocks:

“For myself, I have learned from brutal experience (in 2008 and 2011-12) that the safest path is to leave gold itself alone and simply use the gold price as a leading indicator for other prices in the economy. Also, I took a run through some gold names I used to cover and quickly got PTSD, remembering all the lies they told investors.”

Or in terms that even you morons can understand: You’re not attracting investment cash because you’re a bunch of fuckers who screw people over. 

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