The Importance Of An Exit Plan For Resource Companies
Erik Wetterling, Founder of The Hedgeless Horseman joins me for a discussion on exit plans for junior resource companies. While the vast majority of juniors say that their plans is to get bought out the fact is some good due diligence can help isolate the ones that actually have a chance of this happening.
Marty Armstrong…….Coin Con…..or not…..
https://www.bloomberg.com/news/articles/2019-06-13/cult-economist-jailed-for-hiding-rare-coins-says-they-re-his-now
And so does Martin Armstrong, a self-taught economist with a cult following who spent years behind bars for what the U.S. said was a $700 million Ponzi scheme and for allegedly hiding assets, including what may be those very same coins.
Armstrong’s story is one of Wall Street’s more bizarre tales — and the newest chapter makes it even more absurd.
He was also sued that year by regulators and the receiver for his bankrupt firm, who demanded that he surrender 102 gold bars, 699 gold coins, an ancient bust of Julius Caesar, and rare coins valued at $12.9 million. Armstrong said he’d given the assets away,
I read that article at lunch today and the saga of Martin Armstrong is a wild and strange one for sure. I love how he hid some of the coins and just now owned up to it, but then on the other coins that went to auction tried to do a legal maneuver to get them back and caught again. Crazy stuff!
The other party that got the coins seem pretty shady as well, so at this point it is hard to know who’s story checks out and whose doesn’t. It would suck to lose such valuable coins, but it also sucks to have ripped off so many other investors, so what goes around comes around….
I think , it kind of leads you into the guy’s mind, and his thinking….Not , sure he has a clear mind….. Maybe, his compute does all the thinking…. 🙂
Always good to get Erik’s thoughts on how he invests in junior miners and the different risks associated with companies but don’t have a clear takeover path, or partner lined up.
Things are looking worse for the bears every day. If we finish the week with more strength (which I think is likely), the short squeeze will be on and the shorts will be competing for shares with new longs.
There’s a good chance that silver and IPT will finally confirm the action seen in gold and the gold miners – probably tomorrow.
Other than for hedging purposes, why would you sell the following chart…
https://stockcharts.com/h-sc/ui?s=GDX&p=W&yr=4&mn=5&dy=0&id=p04667056749&a=670730563
(As I had cautioned the other day, it does look like the weekly chart is in charge, not the daily.)
GDX will probably reach its 2016 high of $31 before correcting modestly and then it will be on to $36 or more before taking a longer break.
The P&F chart price objective for USERX is now $19.50 (it is $7.22 at the moment).
ISVLF did well today:
https://stockcharts.com/h-sc/ui?s=ISVLF&p=W&yr=3&mn=6&dy=9&id=p2784906510c&a=642608464
Rhodium up $250………$3250…..