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I can finally utter a sigh of relief as I settle into a relaxing half week or so of sun and stupor on the Treasure Coast. Tomorrow, I sunbathe and wrangle with bull sharks in aquamarine waters!
HA! Just kidding, actually I’ve got two conference calls tomorrow morning and then another 8-12 noon job on Thursday. Then when I get back Sunday evening, I can pack my bags for all this scheiss to start all over again, this time not in the Orange Grove State, or with any mai-tais to accommodate.
Listen pals, I know I’ve begged your mercy before, but this time I think I might be straining your good will to it’s failing point. Listen, I know something’s wrong when my only knowledge of the public markets is via reading my e-mail blasts from Chess, RC and Jeremy (The PPT ratings). I get all kinds of garbage through all manner of metric, but those three have been my anchor these last weeks. Meanwhile, I’ve done very little in my own portfolio — perhaps out of stubbornness, but perhaps also because I believe that the miners are so beaten down in relation to the price of gold and silver that I think this may be the best buying opportunity I’ve witnessed since the March 2009 recovery.
Yes, you heard that right. Every metric I look at shows vast undervaluation of the precious miners. If you never touched these things, now is the time my friend. I am even thinking of looking at the options market here. Today’s divergence in the PM’s versus the overall down market may have finally revealed the truth about the liquidity that cannot be denied in these names.
And somehow, it all makes bizarre sense. Listen — we just had a deal go out that had more bids on it than anything I’ve ever been associated with in my career, and yes, that includes my time in the white shoe world of the Fortune 500-exclusive IB’s of Neuva York. It’s a shark frenzy out there in the private markets ladies and germs… those dudes have capital– shitte tonnes of it — and they want to spend. You think its twin in the public market is really going to puke it all down here? Good luck, pal.
BAA, you sick fuggers. BAA. Then RGLD, SLW and UPS, and MON. At least that.
Wish me luck, and if you cannot stomach that, then wish me survival.
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Jake!
Safe travels and all that, I hope you are able to rest soon.. good to see your post. Was happily able to refortify my RGLD hoard, I missed the ones I had trimmed.
In addition to the above what do you make of DE? Getting closer to where I was interested..
take care sir.
kohai
Thanks Jake. Cool … do what you need to do. We can wait until you get back here ’cause we understand the big picture. We are either there are very close to buy time.
I will post a chart that’s kind of interesting…
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agreed
So biz is turning quickly, if not in a panic to put $ to work, as though the economy is coming around. Sounds like jittery sellers, afraid of losing their favored tax status, have no shortage of willing buyers at a discount willing to take on that risk.
That’s correct.
Lots of good bidnesses are becoming available because they think your guy is going to crank cap gains to 40%.
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Funny that buyers don’t have the same worries … but what’s an extra few % when the gains from a recovering economy will dwarf the increased tax liability if it even gets that high (doubtful)?
Cheer$
It appears you are already on the ‘Island of Survival’ with a winning team.
If your plan should fail you can always resort to ‘Leg Modeling’.
Be safe in your travels and watch out for leaping deer.
😉
I am just glad there is no umbrella in that drink.
where’s your exk stash buried? i’ve been patient as heck for this one.
I’m still full up… anything under $9 is a buy.
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Trying to decide whether to upbraid you for the consumption of “mai” “tais” — with a straw, no less — or to thank you for at least removing the little umbrella before taking the picture.
But I do wish you a good vacation and safe travels while I make up my mind.
How about AG and PBR ? You still hold them or adding here?
Thanks JG !
Jake, what month would you use if you were to look at the options market? June/July or longer term?
If you’re looking at $SLW calls, try 2 months out, 2 points in the money.
Thanks Charlie. I like July 60’s on RGLD as well.
$LYSCF gonna run today on news court case was dismissed (up 11% premarket)
http://finance.ninemsn.com.au/newsbusiness/aap/8450496/request-for-lynas-plant-review-denied
Shagged a few more shares of the boxed wine (AAU) yesterday a coupla mins before the close at $2.25. My child’s future will sink or soar on that sumbitch. But like all fine boxed wines, I’m certain it will only get better with age…right?
Well i took all my bond money and dumped it into a GDX-like mutual fund…should be interesting.
Gold looks like it will test $1600 and silver $30. The good news is that Jake’s Jacksonians tend to do well while he is away on vacation. I’m buying here.