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11/13/14

Professional CFA qualified brokerage analysts who have not been paying attention, Cormark and First Majestic (AG) (FR.to) edition

Today's "winner" is Graeme Jennings of Cormark, who starts his piece on First Majestic today November 13th 2014 by stating:

 First Majestic offers investors access to the “purest” silver producer, with approximately 90% of its revenue attributed to silver.
....to which Owly says...

....because of this:


Thing is Graeme, once upon a time your investment thesis may have been true but we are now in the Year Of Our Lord 2014 and nowadays silver is only 76% of FR.to revenues. It's been under 90% since the end of 2012, Graeme. In other words, anyone who knows anything about this company would have stopped reading your lame report after paragraph one, because getting the basics right is...errr...basic.

UPDATE: Good morning, ladies and gentlemen visitors from Cormark:


We at IKN hope you have a pleasant day at the office and get to do many things that help forward the cause of humanity.