Moriarty on underperforming silver juniors...must be getting to him:
321gold.com
excerpts:
It's crazy because both have accomplished everything they said they would.
Both companies are very well cashed up. Great Panther has about $4.5 million in cash, Endeavour Silver has about $14 million.
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what Mr 321advertisewithme.com fails to mention is EDR lost $2.4m in the 1st 3 months of 2008
he also forgot the $5.2m in ABCP EDR holds (now has a fair value of $3.9m...quick whats the return on that puppy?)
and how about the 25% hit they took on their share portfolio from Dec 31 to March 31/08. Thats 100% annualized.
edrsilver.com
Bob's apology is at the end of his rant...err...missive:
"Great Panther and Endeavour Silver are advertisers. We are biased."
If I were Bob I'd raise their ad rates. That ought to do it.
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Thing is, we all like to do our research, find hidden gems, try to outperform the market
The double up on oil ETF HOU.TO would have beat most oil plays the past 12 months as oil doubled from $70 to $140, $10,000 would be $40,000, 400%%. So much for that basket of oil plays you spent 60 hours picking, that you tend to nightly, neglecting sport, family and friends. You even get to grimace at the summer BBQ when they congratulate you on how your oil stocks you told them about last summer must mean you can keep up with the rises in crude. You joke about flying first class to Europe in August, BUT, the reality is you might as well have forgotten stocks and used the money to buy a Prius. So you smile and don't tell them about 'operating risk'..things like badly put forex hedges that can suck the extra returns out of your star position and make Gordon Brown's gold sale (400 tons from 1999-2002 @$275/oz) look like the trade of the century.
With stocks like EDR might the same be true of silver plays?
Noone can naked short your physical bars of silver in a safe.
If you must play the market and want some extra oomph instead of just going long CEF.A or SLV, at least SLV is marginable, so leverage that and beat a basket of silver jrs?
I suppose if you want to avoid the US, CEF.A is marginable too. Think of it this way...people who bought EDR in a cash account because they don't like the risk of margin might as well have been on margin considering what the operating results did to the business.
Then there's the risk of naked shorting and EDRGF.PK (now EDR.TO is EXK) has been on the Reg SHO dance card. Its kind of like the TSX, where EDR trades, could tell us directly there's naked shorting in EDR going on, but they don't want to hurt anyone's feelings, so they have to hide it on some US website with the hope that noone looks too hard... |
