Sure, Mersch, the boyz, et al taking down cheap paper .... 'seed capital' it's called, and the Everybody Does It defense comes in here to an extent, because the same happens in all sectors .... it showed up heavy in the tech bubble, one of many examples is how CMGI made it big for a little while there, they had slipped Lycos one or two millions in exchange for several bushels of paper which became 'worth' a billion or so for a brief time ... or was it Altavista, or some other project, can't recall ... anyway that is how venture financing is done, early birds get the cheap worms, there are several reasons for this, one is because many of the worms croak before you cook em, and then stink up the place .... you don't hear much for complaints about the cheap paper taken down on the projects that fizzled, this is because they don't generate the jealousy of humongous gains that a dfr.v does
Altamira was the star moo-fund in those days, one of the country's first no-load funds, and Mersch made it hum, turned great gains for holders in the '93-'96 resources boom .... some say he got a bad rap on that Dass deal [or another? - can't recall] , but had it coming anyway for others, so it evened out
It's thin stuff, Pluvia, old material, water under the bridge .... your better course would be to focus on the company, issues specific to it .... like their ratio of success-to-failure on their projects to date, their need to finance, maybe political risk of their locale, like that .... as for gas-to-liquids, Methanex does that every day, makes money at it for years now i believe, so why hasn't IE set up production yet ... let me guess - they've lacked the financing ..... same question, and probably same answer, for the China gas deal .... i do think you're providing an educational service by bringing out these questions, even going over the background for those who may not have heard it, but you've bitten off quite a chunk ... 'he's a promoter' - oh you betcher boots he is .... i'll probably wander off from this thread, it's been entertaining .... cheers
ps - Friedland replies to Forbes article in re ivn.to - Message 19487092 |
