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Mike Kozak of Cormark, numerical dumbass

One of the main qualifications of an equities analyst is being able know your ass from your elbow when it comes to numbers and stuff. Unfortunately Mike Kozak, analyst at Cormark, fails on this score in a rather epic manner.

Last Friday, Kozak published an analysis on Dynasty Metals (DMM.to) that was so full of elementary mistakes it was laughable. Here's a little chart that has just a few of them (not kidding, just a few of them):

Dynasty Metals & crap analyses, Cormark Edition
Mike Kozak vs Bleedin' Reality, November 13th 2009
	Kozak	Reality	Cormark result
52wk high	$11.18	$6.20	EpicFail
52wk low	$3.53	$1.09	EpicFail
Shares out	36.4m	37.64m	EpicFail
cash at bank	$18.8m	$10.75m*	EpicFail
mkt cap	$205.4m	$212.7m	EpicFail
source: Cormark report and bleedin' reality, mate

* approx, but way way closer than Kozak, I promise

Add to this things like assuming Ecuador's corp tax rate is 30% (it's 25%), overestimating insider holdings at DMM by what looks like a million shares, getting the gold resource number wrong by nearly half a million ounces....there's a whole bunch of other stuff. Maybe funniest of the lot was that, after getting so many asset parameters way way bad he decided to value DMM.to using a Net Asset Value calculation!

It's super-early to give out this week's coveted award, but surely nobody can beat this one. Therefore, Mike Kozak of Cormark, you win this week's coveted award. Your report on Dynasty Metals was the worst piece of rushed and sloppy analysis we've seen this year. Enjoy, dumbass:

Chart of the day is....

...the Gold/Silver Ratio, year to date.

Metal fear is beating metal greed. The GSR isn't going to 50X folks, that's just a wet dream from those who prefer staring at shiny things more than learning about how the world works. Gold is better than silver. End of story.

Bolivia really is the miracle economy of South America

This chart just blows me away. Feel free to take all your prejudices about left wing governments not being able to run an economy correctly and throw them out the window.

It needs some explanation for the 99% of human beings that are normal and are not into this wonky stuff, however. What we have here is the combination of two numbers.

• The first number is Bolivia's M2, which is a term used by the bankypeople that basically means "the money in circulation inside a country".

• The second number is the amount of international currency reserves held by Bolivia's Central Bank.

So what we can do with those two numbers is divide M2 by reserves. This is the result you see on that line above, and what it shows you ishow many Bolivian Pesos are in circulation compared to the number of dollars tucked away as savings.

Frankly, it's remarkable. When Evo took office, there were 15 Bolivianos for every dollar saved by the country. Now there are six for every dollar. What this means is that the Bolivian currency has become far stronger under the current government than it was before. This has many beneficial effects, not least of which is that inflation will be far easier to control in the country going forward.

Compared that to The USA, where the printing presses are rolling like never before and everyone fears the stoking of inflation down the line; Bolivia's monetary policy beats the Fed's hands down. I'm not exaggerating when I say that the above chart is a great visualization of the newly found financial security of Bolivia, a policy that will serve the country well into the future.

Ben Bernanke, consider yourself well and truly pwned by an ex-coca leaf grower.

You know it's true

From here

Peru: Ufologists Claim Planet is “Monitored” by Extraterrestrials

LIMA – 8 Nov (Notimex) – International experts in the unidentified flying object phenomenon (UFO) stated that the Earth is “monitored” by extraterrestrials and maintained that this would be a source of “concern” for the world’s most developed nations.

Specialists participating this weekend at the 4th World Congress of Ufology, held in the Peruvian capital, stated that the Peruvian coastal region of Chilca, as well as extensive areas of Argentina, are under “constant monitoring” by aliens.

CONTINUES HERE

The IKN Weekly, out now

IKN29 has just been sent to subscribers. Last week one subber found his Weekly had been shuffled off to his spambox for some unknown reason, so watch out for that one folks.

This week's Weekly has rundowns on company quarterly results, looks at the troubles New Gold (NGD) is having in Mexico, notes some interesting political developments in the LatAm region as regards mining and lots more besides.

Oh Noes! No War!

From V-Anal

In response to Colombia’s complaint to the United Nations about Venezuela’s “threats of war” earlier this week, Venezuela reiterated its intention to promote peaceful international relations while defending its sovereignty against a potential attack from Colombia, which recently signed a military pact with the United States yada yada continues here

This is what I mean, Bennett

People like this guy were right and I was way wrong.

Via Sketch, here are the words of Wilton Vought written in August 2008:

"Anyone who succeeds in becoming the presumptive Presidential nominee of either corporate party does so only with the blessing of the corporate interests who run those parties.

..........

"Expecting a front man for such interests to be a catalyst for substantive progressive change is akin to believing in Santa Claus. Fine for the kids, but it's time to grow up."

I believed in Santa Claus until Honduras. More fool me.