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7/12/13

Alamos (AGI.to) buys Esperanza (EPZ.v) for 85c cash

AKA "Bargain hunters" overpaying for idiots. The end

UPDATE: Ok, not quite the end as a quick note on market reaction is in order. AGI is down over 5% on this news and quite right too. Meanwhile, EPZ.v is trading at 90c whch suggests the market thinks there may be a bidding war for the company, or perhaps it thinks Pan American (PAA.to) (PAAS) won't want to cut its own losses and stupidity on this stock. The bottom line is that the nice Mr. Market thinks there's another company stupid enough to think EPZ is worth more than its treasury balance today. Come to think of it and considering the amount of companies out there run by total dumbasses, that might not be as wild a thought as it first seemed. But all the same...ugh, no. Avoiding all trades on this silliness.