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2/10/18

The top three most visited IKN posts this week are...

...in reverse order:

Third Place: "Introducing IKN's new service for junior mining companies". IKN talks SHYTE once again.

Second Place: "Allan Barry Laboucan news: Alset Minerals (ION.v) will not raise $1.2m". The latest is that the placement deal has indeed collapsed and Allan Barry is now refusing to go to PDAC and represent his company because he's afraid of being fired on the spot.
 
First Place: "Ray Dalio". When the music suddenly stops, there's always one guy left dancing who looks the most stupid.

Important: This was an away match...

...versus Valencia in Valencia, which makes the crowd reaction is even more meaningful:



Once again Leo make a top class defender look like Sunday league huffer, Gayá will be having nightmares about this for weeks. Youtube here.

2/9/18

Alio Gold (ALO.v) is deep in the doo doo

Ain't no way they make that fancy new production guidance for 2018, what with the San Francisco satellite deposit having no gold in it and its operation now closed down. Expect a serious, serious downgrade in guidance at the end of Q1. That and Ana Paula is now totally closed down because ALO screwed over the exploration contractors.

Apart from that, the company's doing just fine.


The Friday OT: Lubomyr Melnyk; Sunset

On Wednesday, reader MG shoots me over a "know this guy?" mail with the link to this wiki page of naturalized Canadian pianist, Lubomyr Melnyk. It goes like this:
Melnyk is noted for his continuous music, a piano technique based on extremely rapid notes and complex note-series, usually with the sustain pedal held down to generate harmonic overtones and sympathetic resonances. These overtones blend or clash according to harmonic changes. Most of his music is for piano, but he has also composed chamber and orchestral works. His piano music requires a special technique, closely related to the Martial Arts, and is too complex and difficult for any concert pianists to play. Because of his life-long devotion to the piano, he has been called The Prophet Of The Piano.
The answer; No, I hadn't come across Melnyk before that moment but a write-up like that gets my attention it was straight to Spotify* and...wonderful. And it's like nothing else, too. Check out Sunset as your example:



Youtube here. That's from the 2016 album 'Illirion' and just one example, the full thing is well worth your time. Thank you MG for opening a door, great stuff.

*Which I adore.

It was twenty years ago today...

...Sgt Pepper taught the band to play. March 1997 to February 2018 is close enough.

 This humble corner of cyberspace notes the following NR out of Ivanhoe Mines (IVN.to) yesterday:
TORONTO, Feb. 08, 2018 (GLOBE NEWSWIRE) -- Robert Friedland, Executive Chairman and founder of Ivanhoe Mines (TSX:IVN) (OTCQX:IVPAF), and Lars-Eric Johansson, Chief Executive Officer, today announced the strengthening of the company’s senior management team with the appointment of Egizio Bianchini as Ivanhoe’s Executive Vice Chairman. continues here
Over the last 20 years Egizio Bianchini has been going in and out of style (but guaranteed to raise a smile), but his name will ring bells with many of the longer-serving members of the mining sector community due to his involvement in the BRE-X scandal in the 1990's. At the time the "discovery" was made, Bianchini was working as an anal yst at Nesbitt (eventually bought and morphed into part of the BMO we know today) and as the story unfolded  over the years, he was one of the lead voices in sell side (because he made sure his name was closely linked to it). He wrote prose such as, “What most people are now realizing is that Bre-X has made one of the great gold discoveries of our generation” in 1994 when the "discovery" first became apparent to stoke the fire and his pushing of the name was heavy all through the 1994 to late 1996 period, but to be fair he was hardly the only Canadian suit fooled by the scumbags in the middle of the scandal. It's what happened at the end of the BRE-X scandal, the moment it all unraveled, that strongly links Bianchini with the snafu in the minds of most people to this day. For that, I'll hand you over to this narration:

Of course, everyone makes mistakes. But here's what Mr. Bianchini wrote on March 25, 1997, and, as mistakes go, it's a whopper.
The day before Bre-X asked for a halt in trading the company was trading at roughly $15 a share. This was down calamitously from weeks before as a result of other bad news and nagging rumours that something was fishy. These rumours were coming as a result of independent drilling audits being undertaken in Indonesia by Bre-X's partner, Freeport-McMoRan of New Orleans.
Even so, the fearless Mr. Bianchini faxed clients and brokers that day and forecast that Bre-X stock would hit $29 soon.
"Our sources indicate that [Bre-X partner] Freeport's initial sampling of the deposit has indeed come up well short of Bre-X's announced grades," wrote Mr. Bianchini. "However, this has not been substantiated, as Freeport is not making any public statements regarding its Busang due diligence. If indeed there is a discrepancy between Bre-X's and Freeport's initial sampling, we are of the view that it is more likely related to the sample preparation or sample assay procedure employed. That is to say that it is likely that the assay method used by Freeport may not give an accurate representation of grade. In addition, the protocol for sample-preparation procedures for this deposit must ..."

Needless to say, Nesbitt clients (and anyone else inclined to believe him over the Freeport drill assays and their lyin' eyes) lost many, many millions (and the lawsuits dragged on for years). But thanks to the magic dust that is Canadian CapMkts here we are, 20 years later, and after two decades of behind scenes movin'an'shakin' Bianchini pops up again on the public scene as...the exec vice chair of a hot junior exploreco. Owned and run by the PT Barnum of 21st Century mining. And doing its thing in the DRC. 

Canada, land of opportunity for all.

UPDATE: Reader 'R' writes in:

"You forgot his most memorable line: 'I’ve seen the gold!'"


2/8/18

Tahoe Resources (TAHO) (THO.to) is currently trying to hire a Vice President Regional Director for its Peru operations

So let's help out Clayton and Ferrari Kev by listing a few of the attributes the successful candidate should have. Off the top of my head...
  1. Complete disdain for small brown people who have the temerity to live close to any company operation.
  2. Willing to visit mines occasionally, unlike the current top brass who gave been to the TAHO Peru ops a sum total of one time.
  3. Sufficient mathematical ability to take the uneconomic and marginal La Arena copper sulphide resource and make  a good enough case for its development that a bunch of idiot bankers actually fund the thing.
  4. Willingness to deal with land owners around Shahuindo location and encourage them to fire shotguns at those currently using the land in order to clear it of any problem locals (see point one)
  5. Skill at spending over-bloated G&A budget on expensive lunches in fine Lima restaurants, first class airline tickets, five star hotels and chaffeur-driven cars when on business travel jaunts.

All that and more, so if you think you're up to the job and can add all the necessary toadying skills needed to appease the C-suite send in your application to the following address:
Ferrari Kev Mac Daddy
Executive Chair
Tahoe Resources Inc.
5310 Kietzke Lane, Suite 200
Reno, Nevada 89511 USA
 And the phone number is (775) 448-5800. If Kev's not in, try the tennis club (the bar, not the courts, he won't be playing).

A good gold price Q&A on Kitco

It's not that I'm against gold pundits per se (or mining anal ysts or the never-ending stream of "LOOK AT ME!" experts that do the rounds on the interwebnetpipes, trade shows or conferences). Hell, I've even met a few over the years and some of them are quite decent company. It's just the level of blabber, the inanities, the permabull dogma, the BS and failed theories they repeat over and over in order to sucker in the dumbasses that gets me down.

But every so often I come across a name or face that talks real sense about the market which is also centred on gold (which may sound like common sense but in my experience it's rare to have an intelligent financial insight from a proponent of gold). Step forward Will Rhind, the CEO of GraniteShares (which I'd also never heard of until today) and this interview with the ever-easy-on-eye Daniela Cambone over at Kitco today. Rhind puts into words the thoughts I've had crystallizing about the metal since last week and does it far more eloquently than I could ever manage. Here's the blurb from the Kitco page but you really need to click over and watch the whole 5 minute Q&A, right here.

Total gold ETF holdings are at their highest level since May, 2013, and this could be due to a growing interest in commodities in general. Will Rhind, CEO of GraniteShares, told Kitco News that growing interest in gold is driven by two main factors: “weaker U.S. dollar, and more volatility and increasing fears of inflation in the market.” Rhind compares gold’s recent failure to rally in response to stocks dropping earlier in the week to what happened in 2008. “When you have a big shock in the market, what actually happens initially is that gold prices don’t respond in a very positive way,” he said, “and the reason for that is because the immediate risk-off trade is normally into the U.S. dollar and U.S. treasuries, and that’s exactly what happened in 2008; gold actually fell first when [stocks] crashed, but only then really started to pick up.” On monetary policy, Rhind doesn’t see rate hike expectations weighing on gold. “I think the rate hikes are priced into the gold market. If you look at what happened to the dollar when the tightening cycle started, the dollar started to fall, and gold prices and commodities started to move up,” he said. Rhind added that investors should focus less on monetary policy when assessing gold’s future and more on the dollar and equity market volatility.

Pretium (PVG): The IKN Weekly called the rebound

This short piece appeared in The IKN Weekly issue 455, out last Sunday evening. FWIW since this was published PVG is 4.2% up while the market benchmark GDX is down 5.3%. Just sayin'.

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Pretium (PVG) may be a near-term buy (but be careful longer-term)
Now down 40% since the news of last week which inspired the piece in IKN454 last weekend, Pretium (PVG) lost 13% last week and only half of that was the wider market bear, as the stock  underperformed the XAU benchmark by 6% (see right). So much for the rebound after weak hands, PVG has gone from market darling to utterly unloved in ten days flat.

Which, to contrarian despicable me, means it’s suddenly interesting again, of course. We now have a period in which PVG will be able to settle down, re-group and get its promo story back together and that’s likely to make it a trade in the near-term. We have the following as possible material moments:

1)     PDAC (and BMO just before it) on the way, no better place to tell your side of the story.
2)     Then in the second week of March we get PVG’s annual financials and they very likely to look good, at least at a superficial level, because there are around 30k oz of gold that were produced in 3q17 but not sold. Assuming PVG sells all its Q4 production plus those hang-back ounces, top line revenues should be pleasing on the eye.
3)     Next the 1q18 production numbers, out (most likely) the second week in April. I’d expect them to be good on the headline numbers, as PVG now has the option of papering over the cracks and (as noted last weekend in IKN454) high-grading other parts of its deposit to produce an out-sized production quarter (likely at the expense of future reserve ounces but hey, who’s counting?). As the debt load is the worry, a decent quarter (while burying difficult data such as reconciliation percentages as deeply as possible) would allow a rally.

Together, I think the combo of those three events, plus the PVG marketing machine (and they’re very but VERY good at that, plus Sprott USA is knee deep in this paper and would “appreciate an elegant potential exit opportunity”), plus the eventual end of the toilet flush selling (I thought we got to the bottom Thursday, then the Dow dive day hit PVG and everyone again) will give this stock a good chance to rebound and offer relief to the suffering longs.

Plus a potential trade-flip for the rest of us of course, however I must stress that:

1)     I will NOT be trading PVG myself. I prefer other things, I don’t like the company, near-term plays aren’t usually my thing anyway, or any other excuse. This note is me respecting the broad church that is IKN Weekly readership with an idea that will appeal to some, not all of you.
2)     Over the medium-term I think PVG really is in serious trouble. So if you decide to trade it, I would STRONGLY recommend you’re out of it by the time the 1q18 financials and MD&A are published around the second week of May. For me, at best this is a near-term rebound on rah-rah and the reaction of a market that will get better top line numbers from the company.
 

Daniel "Davidoff Cigar" Ameduri does it again: Laying waste to shareholder equity in mere days

Desperate Daniel Ameduri, the Davidoff Cigar of the BS promotion world, once again exerts his reverse Midas Touch magic on the world and manages to turn gold into turd. As he impatiently waits for Zinc One (Z.v) to release results in order that the major pump begin (at which point he will sell his underwater paper to the saps that he encourages into purchasing) he attention has turned to another base metals play in mid-January, Callinex Mines. Pumped to his flock of unwitting fools on January 18th via his soon-to-close Future Money Trends as well as auxiliary vehicle (in same company group) "Wealth Research Group", he exhorted them into CNX at 34c and 36c. The stock popped to as high as 44c (guess who was selling to the saps?) before reality set in. The result?


Yup, buyers of this supposed sure thing got the same hosing they always get from a Daniel Ameduri pump and dump. It's already 10% down from the reco price, 30% down from the peak and knowing how the normal Ameduri pump job performs after he's done his raping and pillaging, we're set for much lower in the future. And let us be clear (from the disclaimer of the CNX pump linked above)...

"Future Money Trends LLC along with our affiliates have been compensated a total of three hundred thousand dollars to manage a two thousand eighteen digital marketing program"

...he's not doing it just for the inside selling opportunity, he's getting $300k from CNX to run this guff and nonsense on you.

Chart of the day is...

...copper, weeklies:


Copper price continues to look in good shape (despite all the "Copper at lowest since..." headlines in the wire services, all wanting your click). Higher highs, higher lows, established price channel. That's one healthy looking chart, people.

Introducing IKN's new service for junior mining companies

This humble corner of cyberspace has noticed over the years that there are many junior mining companies with lacklustre assets, mediocre management teams or weak financial positions. However, these juniors also have people backing them who want to see their stock higher, so they will often use third party means to promote their stock and see it gain popularity. After many years of tracking and monitoring the techniques used by juniors to promote their stocks, IKN now has deep experience of the art of the junior stock promotion as well as intrinsic knowledge of the smartest, most efficient strategies to use in any given situation. It's only now that we are willing to unleash this knowledge on the world via a revolutionary new service that promises to change the face of stock promotion.

While there are many places to turn for junior mining executives looking to get promotion for their stock, IKN has identified the clear gap in the market. Typical stock pumps rely on one or two methods, so instead of using piecemeal promotions that apply a limited number of techniques in order to move your stock, often at great financial expense, the new IKN service combines the best of them into a tried and tested, full range cocktail of promotion that is guaranteed to shift your shares and fill your bank account, magically changing your near-worthless options and deeply underwater paper into cold, hard cash no matter how poor your company fundamentals might be.

Introducing the Seriously Hyping Your Troubled Equity plan (S.H.Y.T.E.).

For a modest fee*, you too can employ our guaranteed S.H.Y.T.E. method to get people buying your stock in droves! Serious hyping means just that, we won't stop until your share price reaches a previously agreed target price. That means we'll be getting your S.H.Y.T.E. together for weeks, maybe months on end. And remember, it doesn't matter how bad your company is because S.H.Y.T.E happens for everyone.
  • We will create S.H.Y.T.E. to get people to buy your stock.
  • We will talk S.H.Y.T.E. to the market 24/7 about the benefits of your company.
  • We get thousands of people into the S.H.Y.T.E., from which they rarely escape.  

For more details on the revolutionary new SHYTE program, available exclusively from IKN, as well as pricing details, please check out our dedicated page on the SHYTE service.

*compared to the money you'll make by shifting your own paper

2/7/18

Air Canada's retro view of customer service

I understand that airlines used such strategies in the 1960's and 70's, but in our more enlightened age of equality it's rare to see such offers.




Thanks to A. Reader and his phone camera.

Allan Barry Laboucan news: Alset Minerals (ION.v) will not raise $1.2m

IKN has it on excellent authority that the current proposed private placement at Alset Minerals (ION.v), supposed to raise $1.2m, is about to collapse. The reason is that the investor group looking to enter took one look at the way the clownshow host Allan Barry Laboucan is pretending to run the company and made it a stipulation of the deal that he step aside. However, as is the way with scumbag parasites such as Barry he refuses to resign. He's pointed out to the investor group that he has a prohibitive golden parachute clause and is now trying to curry favour with the current brass at ION.v by promising to issue a stack of cheap options to board members as soon as the rollback is complete (thereby immediately diluting any poor sucker stupid enough to buy into a company run by this idiot).

Also, please note how the liar and thief Allan Barry Laboucan rips off his current shareholders by selling a whole bunch of his own position in ION.v, then using the cash to fund his portion of the recently closed private placement. Unethical in the extreme, not only does he dilute out company shareholders but the fund raised will go straight back into his own entrenched pocket via his excessive monthly paycheques. He used exactly the same trick at his other gig too, Advance Gold (AAX.v). 

Anyone stupid enough to invest cash behind a guy like this deserves to lose their money, if only for the lesson. Meanwhile, Barry will hang around like the smell of dogcrap on the sole of your shoe, he's on to a cushy little number and gets to play golf, flap gums on CEO.ca 24/7 and drink tequila on the company coin.


2/6/18

The only bit that matters in the Barrick (ABX) NR on Pascua Lama


"...Barrick is reclassifying Pascua-Lama’s proven and probable gold reserves of approximately 14 million ounces, which are based on an open pit mine plan, as measured and indicated resources.1 As a result, we expect to record an estimated pre-tax impairment of $429 million at Pascua-Lama in the fourth quarter of 2017. Further details will be included in Barrick’s year-end results release on February 14, 2018."

Ouch.

Bunker Hill Mining (BNKR.cse)

It's not easy keeping up with the squirming of slimeballs as they try to cover their tracks, so it's worth noting here that since the Liberty Silver pump and dump in which Bobby Genovese dumped untold millions of shares on an unwitting market and made off with his criminal loot, he's done the following:

  • Regained majority control of the company
  • Once again hidden the vast majority of his shareholding in offshore accounts, waiting for the dump opportunity
  • Changed its name from Liberty Silver to Bunker Hill Mining and listed it back on the CSE exchange under the ticker BNKR
  • Got a new project for the thing, namely the old Bunker Hill mine and pollution nightmare spot, with which he plans to lather/rinse/repeat and rip off the greenhorns once again.

So thathanks for the heads-up to reader JG for this link of a Caswell Stockwatch piece today that catches up on Bobby G's attempts to tie off his major loose end, the SEC fraud charges he faces in the USA. Same Bobby G as Bunker Hill. Same company. Same Modus Operandi. Same rip-off in the making. Read on.


  • SEC defendant Genovese files motion to dismiss

    by Mike Caswell
    Ontario's Bobby Genovese has asked that a judge dismiss civil charges he faces from the U.S. Securities and Exchange Commission for manipulating Liberty Silver Corp. in 2012. He says that the SEC's allegations fall short of making a case for securities fraud. Much of the case is vague or involves activity "completely disconnected from investors," he contends.
    The denials from Mr. Genovese come in response to a case in which the SEC accused him of improprieties related to his sale of $17.5-million worth of Liberty Silver shares. (All figures are in U.S. dollars.) The SEC claimed that he arranged for promotional newsletters and enlisted the help of a New York brokerage to boost the stock, all while failing to disclose his large share position or his intention to sell that position. The stock went to a $1.55 high before the SEC halted it.
    For his part, Mr. Genovese characterizes the events much differently. In a motion to dismiss filed on Feb. 2, 2018, he says that much of the SEC's complaint is too vague to base anything on. The SEC accused him of touting Liberty Silver without disclosing his true intentions, but the regulator did not say how he misled anybody. It also did not provide "the specificity that is necessary to meet the pleading standard for securities fraud," he contends.
    Bobby Genovese
    Bobby Genovese
    In what specifics the SEC did provide, it fell short of making out its case, at least as Mr. Genovese sees things. For example, the SEC accused him of failing to fully disclose his interest in Liberty Silver, but he claims to have made no effort to hide his financial interest in the company. He says that he repeatedly disclosed that interest. The SEC further accused him of hiding his intention to sell the stock for a profit, but "nowhere does the [SEC] address how that supposed failure to disclose would be material to an investor," the motion states. Moreover, the SEC has provided no explanation why a rational investor would be dissuaded from buying the stock simply because Mr. Genovese owned it or intended to sell his shares for a profit, the motion states.
    Mr. Genovese further points out that he did indeed disclose his intention to trade Liberty Silver. An e-mail that he sent to his client investors had an explicit disclaimer. It stated that Mr. Genovese's company "has a long position in this security via its subsidiary, Look Back Investments and may trade in and out of this security at their own discretion without informing any person or entity."
    For those reasons, Mr. Genovese asks that the case be dismissed. New York lawyer Marc Rowin filed the motion on behalf of Mr. Genovese and his company, BG Capital Group Ltd.
    Details of the allegations against Mr. Genovese are contained in a civil complaint that the SEC filed on Aug. 1, 2017, in the Southern District of New York. The SEC cited him for a scheme that went back to 2010, when he acquired 44 per cent of Liberty Silver's shares. According to the complaint, he boosted the stock in presentations to brokers and through newsletters, while selling millions of shares.
    Much of Mr. Genovese's efforts at boosting the stock, as described by the SEC, were routed through a New York brokerage named John Thomas Financial. According to the complaint, Mr. Genovese enlisted the help of the firm's chief executive officer and then made presentations to the firm's brokers. Mr. Genovese allegedly told those brokers that he expected Liberty Silver to go to $7. He failed to disclose that he was a substantial shareholder and that he planned to sell his stock, the SEC said.
    Around the same time, Mr. Genovese was arranging to have newsletter writers publish promotional pieces about Liberty Silver, the SEC claimed. One unidentified Canadian newsletter writer received a $30,000 set of speakers for his efforts, according to the complaint. He did not disclose this alleged gift in his subsequent recommendation of the stock.
    The SEC further accused Mr. Genovese of manipulating Liberty Silver through wash trades. On Oct. 3, 2012, he arranged a series of trades between accounts he controlled, with those trades moving the stock to $1.43, a 10-cent gain, the SEC said. That same day, trades by Mr. Genovese accounted for 61 per cent of the sell-side volume and 28 per cent of the buy-side volume, according to the complaint.
    Two days later, on Oct. 5, 2012, the SEC ended the scheme by imposing a trading halt on Liberty Silver. By that time, Mr. Genovese had sold $17.5-million worth of shares, generating an $8-million profit, the SEC claimed. He had also provided $2-million to John Thomas as a purported loan, according to the complaint. In all, the firm solicited clients to buy over 19 million shares during the scheme, the SEC said.
    Of the shares that Mr. Genovese sold, many came from an offshore brokerage that he used, Verdmont Capital SA, according to the complaint. He held an account there in the name of a Panamanian entity, Outlook Investments. (Verdmont is no longer in business. The firm, which was run by two former Vancouver brokers, ceased operations after the SEC charged it for share sales unrelated to Liberty Silver. The regulator said that it sold millions of shares during questionable promotions in 2013. Verdmont denied any wrongdoing, but in early 2016 it went out of business and later stopped defending the case. The SEC won a $38.5-million sanction by default. The B.C. Securities Commission also began an administrative case against Verdmont and its two founders, former Vancouver brokers Glynn Fisher and Taylor Housser. To settle that case, Verdmont agreed to pay $350,000 (Canadian). The BCSC dropped the case against Mr. Fisher and Mr. Housser.)
    The defendants in the SEC's case include John Thomas Financial's former head of investment banking, Abraham "Avi" Mirman. He too has asked that the judge dismiss the charges, saying that the SEC has failed to properly connect him with any fraudulent stock promotion and with any stock sales by Mr. Genovese.
    The SEC is seeking a penny stock ban, appropriate civil penalties, disgorgement of gains and an order barring future violations by Mr. Genovese and Mr. Mirman.
     

Gold stocks are equities too (from IKN455)

As you may have noticed from the preceding three or four posts, I've been having great difficulty in taking this market drop seriously. The reason? Well, there are several but the main one was covered in the intro to The IKN Weekly issue 455, out on Sunday evening and FWIW, it applies even more precisely after watching that 1,000+ point Dow drop yesterday Monday (as well as the whiplash start to Tuesday, 35 minutes ago as I write these words). The reason: I own gold. Read on:




Gold stocks are equities too

There’s a short version to this week’s intro and there’s a long version. The seasoned mining market players among this esteemed audience can skip the long one and go straight to the short one, they say exactly the same thing.


Long Version: When measured by the GLD bullion ETF and done to three significant figures, the price of gold is up 2.216% so far this year. That beats out the 1.42% added by the main precious metals mining ETF, GDX and it knocks the 5.4% loss suffered by its junior sidekick GDXJ into the proverbial cocked hat. In fact GDXJ lost 7.2% this last week alone, it lost 4.04% just on Friday so it’s worth a moment to stop and consider just what you’re buying when you get into mining equities, large or small. And then compare them to gold.


When it comes to the time I present the GLD inventory data here in the weekly (usually in the intro) I tend to tighten the Y-axis parameters as much as possible in order to show changes in GLD bullion holdings visually. The weapon of choice is a chopped-down Y-axis that starts at 750 metric tonnes (mt) and finishes at 900mt but to get the real situation with bullion, it’s better to go standard. Here’s what happens when the chart starts at zero.



You see last week’s big Dow drop there? The record highs they screamed about on your preferred biz TV channel about 100 times last year? The blow-out quarters from the FANGS? The Fed’s various decisions on rates and the ongoing health of the market? The reflection of the rise in house prices? President Trump’s tax returns? Or tax bill? Or immigration executive order? One of any number of high casualty suicide bombings, Euro-located terrorist atrocities or USA mass shooting events? Nope, me neither.


There are very good reasons to own gold, but none of them involve creating portfolio alpha, beating the street or “killing it” (to pretend I’m millennial for a moment). Other people put it other ways, my way is the line “Gold does not make you rich, it stops you from becoming poor”, but that’s just flowery pretentious me, something more prosaic about net worth insurance policy or savings baseline is just as worthy. In my mind, you don’t need to read a single line of any money commentator, newsletter soapbox owner or financial advisor to know that (and you certainly shouldn’t pay them for the knowledge, it’s like paying someone to tell you what time the sun rises every day). On the other hand, what we do round these parts at The IKN Weekly is try to make money in one of the most volatile and unpredictable sectors of capital markets that exists. We speculate (or “invest” if you prefer) in equities that get thrown around on every type of breeze and one of them, the one that gold bullion largely ignored last week, is a correction in the broad market when they come along. Now it may be complacency that has people wringing their hands in my mailbox and telling me that it just isn’t fair (with exclamation marks, I kid you not) that their gold stocks have dropped with the Dow when by all rights (huh? Whose rights? United Nation Human Rights Declaration has a new appendix?) they should benefit from the drop in Wall Mart, Google and Bitcoin. Sorry folks, doesn’t work like that ever. We invest in gold stocks. The word “gold” there may be a noun but it’s a mere predicate telling us about what we’re really talking about, the substantive “stocks”.


Short version: The market corrected at last. The juniors got stuffed. Get over it, Monday’s looking interesting.

IKN knows the exact moment when the broad market rebound begins

Your humble scribe will be able to tell the world, in real-time, the exact moment when the current heavy market sell-off stops and the recovery bounce begins. The system is time-proven and peer-approved, scientifically monitored and failsafe.

At the precise market bottom, I will receive communication from my mother who will begin the message with, "I heard on the news that the markets...", continue for around 50 words, then finish with, "...is everything all right with you?".

Thank you for your attention.


2/5/18

Ray Dalio

I know the glass houses and stones thing. I know he has a stellar reputation and all that.

But I don't care, this is simply irresistible. Ray Dalio at Davos, January 23rd 2018:


So when was that, exactly?



Oh, okay.

Has the photo of the Wall St trader...

...with at least one part of one hand (palm, fingers, whole, etc) touching one part of his or her head (normally brow or forehead) made it to the front page of the NYT yet?

You know why i'm asking, obviously.

UPDATE Tuesday: I would like to thank several readers, including 'FH' who sent in the best one:



 

Today's market prediction

Gold will do better than the Dow.

The Ecuador referendum: All seven questions are voted up

That's a win for President Lenín Moreno.

The IKN Weekly, out now




IKN455 has just been sent to subscribers. It has photographs.

2/4/18

Ignacio Scocco's goal

That moment when the top player in your favourite team scores the best goal anywhere in the world this weekend. Ladies and gentlemen, IKN presents Ignacio Scocco's second goal in River Plate's 2-0 win over Olimpo and a nailed on finalist for FIFA's goal of the year competition.



¡x dios, que belleza! Youtube here.