Monday, November 26, 2012
Again with the Schadenfreude
This is fun! I could spend all day tracking down juniors who were taken seriously at one time but have since lost a fortune in stockholders' money.
I remember being at the mining valuation class at 2011 PDAC and some actual bank analyst did an example valuation calc using Clifton Star. Heh! I still have the workbook but can't be arsed to find what the guy's target was; but I can pretty well darn guarantee you it was higher than 92 cents. Like, maybe 10 times higher than 92 cents.
I guess that analyst still has a job somewhere.
Klondex is also flirting with a multi-year low. Though it's only lost two-thirds of its peak value. I guess those shareholders must be feeling pretty fucking smug right now!
Mega Your Anium was a regular trade reccie of GT's, back in the day. I look at this chart and yes, I can see the Fukushima collapse. But I can also see how it lost 80% of its value since then. Thus one of my big past problems with GT: he often suggested trades in stocks that (as it turns out today) had no intrinsic value.
Of course, I guess as long as you only trade them and have a stop-loss, you can trade utterly anything in the world and get away with it.
Strathmore Minerals... hey, wasn't that one of Mickey Fulp's past loves? In fact, yes it was, and it was only back in September that he called Strathmore a "screaming buy at 27 cents". I guess now that makes it a "hootin' and hollerin' buy at 20 cents"?
Should we wait til it becomes a "pickin' and a-grinnin'" buy?
(Betcha $100 Mickey used to watch Hee-Haw. Betcha $50 he even has the 20 DVD best-of collection.)