My introduction to the junior resource market and my outlook on the world were heavily influenced by Doug Casey. Without a doubt, I wouldn't be where I am today were it not for the impression he made. I've read virtually every book Casey has written, so I was intrigued, to say the least, when I heard he would be releasing a fictional story about speculation.
It's funny how things seem to pop into your life at just the right moment, because in the case of Speculator, the philosophical narrative really resonated with me. In part, I'm sure it has something to do with the types of projects I'm currently working on, but also because it's written in true Casey style.
Speculator Review
Doug Casey and John Hunt's collaboratively written, Speculator, is the answer to those looking for an education in junior mining stock speculation - with a twist. What makes this book especially interesting is that it offers a reprieve from the sometimes boring confines of non-fiction writing with some fantastic story telling.
Speculator tells the story of Charles Knight, a young speculator, and his adventures in the fictional West African nation of Gondwana. Knight is drawn to Gondwana to investigate a junior gold company, B-F Explorations, in which he holds a large speculative position.
What Knight finds during his time in Gondwana, however, will change his life forever; by following his instincts, he uncovers a fraud that will put his life and the people he cares about in jeopardy. His plan to expose this fraud navigates the ironic and idiotic nature of our governing bodies, and how doing the so to speak 'right thing,' really doesn’t do any good for anyone.
Questioning Social Norms
Knight’s adventure intertwines with a few different plot narratives, which discuss some very important social concepts that are so often overlooked or considered too 'politically incorrect' to broach. In my opinion, this is where Casey and Hunt are at their best, providing commentary that anyone not completely sold on social norms will find particularly thought-provoking.
This paragraph stood out for me as both a lesson in speculation and in life:
“Most people, navigating the waters of life, seemed sonar directed, setting their course based on what the rest of the school of fish was doing. These sonar-directed types spent their days pinging their surrounding, turning-often suddenly and without understanding why-when everyone else turned. Perhaps if they turned fast enough the ones on the edges would get eaten, instead of them. It was safer, but the crowd, necessarily, always got average results. And occasionally the entire mass got swallowed whole.” ~ Casey, Hunt. Speculator, 91 (PDF Version)
Knight encounters a number of challenges that test his moxie, as he must decide how far he's willing to go to ensure B-F’s fraud is uncovered and his profits maximized. The adventure concludes fantastically, fraught with death, love and taxes (so to speak).
The People & Experiences that Shape Our Lives
The principles you choose to live by reflect who you are, and essentially, where your life will lead. I can hear Casey's voice in almost every one of the characters in this book, and for me, they provide excellent thinking points, or words to live by.
There are two characters, in particular, that play a major role in shaping Knight's character:
Uncle Maurice is really much more than an uncle, as Knight uses him as a barometer for his actions throughout the story. Maurice empowers his nephew to follow his dreams, to live life by a set of principles that help Knight overcome obstacles along the way.
There are a variety of lessons to be learned from this character, but a few that stood out for me were:
• The importance of soundness, which Knight defines as,
“Soundness means having integrity...People who are sound don’t live in contradictions. They’re...internally consistent...It’s being honest with yourself, for sure. Caring enough to seek the truth is part of it” (80-81).
• Listen to your instincts:
“Contrary to common opinion, intuition wasn’t mystical; it was scientific. Intuition was the ability to properly integrate many subtle pieces of information. To have good intuition, therefore, someone needs experience and data and a logical mind that can fuse them into coherence” (17).
• Be truthful:
“Truth never contradicts itself” (81), and, “lying to others is bad enough, but lying to myself is actually worse. I don’t have to live with other people, but I have to live with myself” (92).
Xander Winn is an experienced Dutch speculator, who imparts a great deal of wisdom throughout this adventure. Winn’s experiences combined with the fact that he shares similar principles make him the perfect supporting character for Knight, as they struggle to solve the issues that arise and to deal with the consequences of their actions.
For me, the following three themes were most prominent in the wisdom that Winn shares:
• Life lessons:
“Lesson One: to succeed, position yourself to take advantage of luck. Lesson Two: bad luck happens. So plan on bad luck, not good luck" (12).
Winn explains further:
“Luck materializes when preparation meets opportunity” (30).
• Money is important:
“Money is important. It’s not just hunks of metal, pieces of paper, or computer entries. It represents all the time you spend earning it. It represents all the good things you want to have, and do and provide for others. It really represents life itself, in concentrated form” (25).
• Justification of your actions:
“In your life, make sure to watch how far down that slippery slope of justification you drop, okay? An emotionally laden human brain can justify a whole lot of evil” (257).
Speculator can be read on a number of different levels. It's simultaneously a great adventure story - complete with death, love, and suspense, - a useful guide to speculation, and a philosophical commentary on some of the most important social topics of our world. Read Speculator, and no matter what you take from it, I guarantee you will be entertained.
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Until next time,
Brian
