Mocker Monday. June 1
V? Or U? (Or maybe W, L, or K!?)
The theme of the week was definitely the post-Corona economic recovery. From the tone of the articles, most of the Mockers are quite bearish on the recovery, with recent market strength being chalked up to some wishful thinking. We’re not sure what the market is showing us marries with the underlying economics (see Tag: Long Term Debt Cycle)
- Grievous Bodily Calm: Beware Pump & Dump (Australian Standfirst)
- Lessons from history: 1929 (Daniel Schönberger – Seeking Alpha)
- Why I don’t expect a V-Shaped Recovery (Rogermontgomery.com)
- A framework for investing after COVID-19 (Goldman Sachs)
- Memo from Howard Marks: Uncertainty II – May 28 2020 (Oaktree Capital Management)
BONUS ARTICLE: Had a good chat about historical P/E ratios. Another indicator suggesting markets are expensive at the moment. Price-earnings Ratio (Wikipedia)
Resource Rising Stars Roundup
Mocker Bill went to the latest Resource Rising Stars Webinaron Wednesday 27th May. The presentations are all on the ASX if you want to see them. His quick takes on the companies below.
BDC – Bardoc. I own a good chunk. Explorer hopefully soon (18m) becoming miner. They’ve been a poor investment for me thus far but I think they’ve got a good story to tell. They own a lot of ounces but none of it is concentrated or great grades. Excellent board (ex PLS). Presentation was disappointing as it seemed to lack focus and there is a story hiding in there.
CHN – Chalice. One that got away from me from an RRS I saw 6 months ago. Talented explorer who sells their projects. Has been a 5x since I first started tracking it but I was too cautious (FOFU). If their gold story is true it is epic but everyone currently seems more excited about their WA PEG deposit (which does look good). Bought a $500 in hope of capital raising but they went to institutions for $30M last week. Drat. They present very well.