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.