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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@NewtonMy pleasure to start a new channel dedicated to #DougCasey novel series called higher ground. I got an advance release copy at the #Sprott conference and have enjoyed it very much. Plan to post some pics/quotes of the book here.
@Newton"He rose through the ranks stoically. Not as high as he might have with conscious backslapping and backstabbing. But as high as someone who was competent, reliable, and basically decent could expect to in a bureaucracy." those character profiles #dougcasey#writing#highgroundnovels
@NewtonWhat is the best moral system?
If God does exist, then we humans will not be able to transition to immortality and omniscience, for we will be stopped by those who have preceded us as long as humans think the ends justify the means, and are willing to use force and fraud. No god wants a god attacking them. So, no species with socialist and fascist tendencies will become a god, or join in the god realm, or join with God, depending on your religious construct. To join the realm of godliness, force and fraud must be extinguished entirely. Bernie and Hillary and Trump take us toward force and fraud. Their philosophies of force are the sine quo non of war. We can’t transition that way. Libertarianism takes us towards peace. Libertarianism or its similar philosophies, is required for us to advance to the next stage of evolution.. If we value life above all, then libertarianism is the best moral system. @johnhunt#dougcasey#speculator#liberty
@NewtonI would rather post a text excerpt than a screenshot here fwiw but limited capabilities on mobile here. No substantial spoilers in that pic, but a bunch of good character development. Also a bit of #DougCasey style philosophy coming through... Enjoy!
@MiningBookGuybtw, I don't agree with a lot of stuff #DougCasey says. But I #think every time he opens his mouth! It's quite impressive, and who wants to be surrounded by people they agree with anyway?? Well, it's too bad he doesn't contribute at CEO.CA! maybe part of the horde of #lurkers here? no, probably has better things to do with his time/money, haha :P #Speculator
@MiningBookGuysome stuff on #mentors, personal note: clearly #mentorship crucial to both #AlbertLu and #DougCasey. i had TERRIBLE mentors...learned from their mistakes, but that's just like learning from my own mistakes.
I'm working on being a better #speculator. but really want to point out that you CAN do it on your own. i've heard the #mentor bit from so many influential people. maybe it's the best way, but didn't work for me. anyway, just need lots of trial & error & self-learning... hmmm, and then you wonder why i like #books so much? :P
@NewtonAlways a bit uncomfortable putting out these short stories as they seem so different from anything else anyone is doing here on ceo.ca but hope they are valuable to someone out there! Please share them with people you know who are generally not interested in mining to see if it catches piques their interest. And if you think it's 'too weird' grab a copy of #HighGroundNovels by #DougCasey and give that a read -- may help convince you that there is value in fictional stories in our industry... Best to all.
@AlanYeah I like the small explorers myself. It all comes down to the people involved I'd say. I think it was #dougCasey that said to ride the best jockeys. And the best jockeys will likely ride the best horses.
@MiningBookGuy@Alan - thanks again for sharing, you're a powerhouse today!
funny, i initially thought this was a re-post. Check the #AlbertLu room for the previous time #DougCasey was on (and some notes from me). But this one is brand new! I will try my best to listen to this within the next few days, if not tonight.
@MiningBookGuyhere's some inside baseball (ok, not really, and i might be wrong on some of these details because this is just from my own 'outside research'. but this might interest some people!): #dougcasey's biggest regret is not investing in #billbonner's (that's #agora) business early on. #michaelmasterson (AKA #markford) is the one that took the #billbonner business to next level. #porterstansberry has probably been the biggest content machine for #agora, getting bigger, and he brought in #jamesaltucher who continues to get bigger. ironically, #caseyresearch is now part of the whole system, but i think it's lagging. #agora is this monster that keeps growing, and now #jimrickards is the next big one in the mix. i have mixed views on the typical sales pitch, but #billbonner seems like a solid person and keeps the brand intact.
of all the people, i do think #michaelmasterson was the most important besides bill to this whole operation. i think a lot of his books aren't that great. but a REALLY good one (maybe past it's prime though) is Ready, Fire, Aim. I know people treat this as an entrepreneurial bible, and it's not widely known if you're interested in more good content: https://www.amazon.com/Ready-Fire-Aim-Zero-Million/dp/0470182024/
@Alan Yeah I've read #speculator. Fantastic book. But if you want the best books by #dougcasey, get his old stuff like #crisisinvesting and #Strategic investing. Been doing portfolio review today. I started speculating on August 2011 and during one of the worst bear markets on record in commodities, I'm happy that my education so far has been free.
@Alan@miningbookguy- yes that is true. That was #dougCasey 1st book. But his first book on the way to think about speculating and philosophy was #crisisinvesting. I've got and read the #internationalman and i felt it was good book at the time (i imagine) on the various pros and cons of some of the best countries to check out.
@MiningBookGuy@Alan - i agree on all your points on #JimRickards vs #DougCasey, even for their general books, but definitely specific to #Speculator by Doug.
In terms of understanding gold right now and for the near future, I think #JimRickards books are the #1 thing out there. And the intersection of #geopolitics and #InternationalMonetarySystem ...Jim is still a leader there too. So you get a very different value. When it comes down to it, there are a group of authors that are 'essential' for specific areas...not that you have to read their books, but you definitely need to at least be aware of their ideas, because they have been so influential. Another one I throw into this mix is #JimRogers, which is even more of a foundation for my thinking/actions than Jim or Doug.
@Alan@bullmarketmove- another good interview. $GXU is one company I was interested in but it's kind of ran away from me recently. It reminds me of #DougCasey saying 'you can't kiss all the girls'. Hopefully I'll get an opportunity. I'm still liking the #uranium industry though. Not seeing too many bargains out there currently and thinking things may be topping out again here. Any thoughts guys?
@AlanIt's interesting to hear the comments on here regarding companies like $FF$GOLD$BRI and other well promoted stocks. All the attention (whether good or bad), generates further attention and promotion. What I do know is that #Keithneumeyer and #amiradnani have attracted the attention of well seasoned investors and speculators like #rickrule and #dougcasey. Ask yourself why is this is the case? Good people find good people. If they didn't, they probably wouldn't be good people. Insider buying is strong in both companies mentioned and have- what I believe- is great management and great owners. They are well known in the junior mining market. They bought up properties in a bear market for cheap and wrapped them all up in a company for us to become owners of. Now I am biased as I own both but as a speculator I'm trying to buy the 4% of people that generate the 64% of the returns. #mbgtrends
@AlanInteresting conversation you are all having on here. I much prefer the optionality plays as they are not actually selling the very thing I find valuable. As #dougCasey has spoken about many times, mining is a crappy business. They are not investments but speculations. I will look at any of these, producers, explorer's, whatever. But to make me part with my cash it must be very cheap. Or what I subjectivity consider as cheap. It all comes down to the price paid for me. Tag on quality people.
@MiningBookGuy@Excelsior RE: https://ceo.ca/mbgtrends?8722b94fecb5 - excellent answer to @Alan's post, continuing the discussion from earlier in #mbgtrends!
I don't disagree with @Alan about his thoughts on betting on #optionality. However, I am much more in-line with @Excelsior's approach. And take it even further in the sense that I'm REALLY looking for anything that's 'economic' at today's prices. This is most in-line with what you hear from Brent/Joe with #explorationinsights newsletter.
While #DougCasey has made a ton of money in this industry, his public discussions on juniors are too cynical for my taste. there IS quality out there, and occasionally we can buy 'quality ounces in the ground' for cheap. I will ALWAYS want these over the 'extreme-optionality' plays. And I am happy to accept 'semi-optionality' plays (as better described by @excelsior).
But as a final point on this for now: I am very very open to #exploration plays where there's nothing yet in the ground, but we know it's very prospective, either based on what I can gather from various 'pre-drilling' analysis (soil sampling, geophysical data, etc ...stuff where i need advice from experts), or simply from a 'big-time' JV partner that is only there because they're looking for the big score. Anyway, it's a good discussion to continue, and appreciate both @Alan & @Excelsior commenting on this! #mbgtrends
@AlanGreat conversation between @leni and #dougcasey. This quote stood out for me: ' ld you say that you have successfully removed emotion from your speculations and investments, over the course of your speculating career? Why or Why not?
Doug: I try to, but it’s very hard to separate your rational mind from your emotions. In fact, when I feel like buying something or selling something, I say, “wait a minute, maybe I should do exactly the opposite of what I feel.” So, it’s very hard, but it’s important. If you start thinking that way, acting against your own emotions, it does improve your results because, as a general rule, you don’t want to be in what they call a ‘crowded trade,’ where everyone thinks, “yeah, this is going to happen”. Maybe there are actually good reasons why something should happen, and maybe it will happen. But, if everybody already believes that and is already long or short, there’s no profit in it, the profit is already gone. #speculator #http://www.juniorstockreview.com/2017/03/03/a-conversation-with-doug-casey-life-freedom-and-speculation/
@LeniI was first introduced to John Hunt last fall, when I reviewed Speculator, the first in a series of books collaboratively written with Doug Casey. Having followed Doug's work for the last 10 years, I was familiar with his connection to the Speculator story line, but I didn't know John or how his background and philosophy would have shaped the series.
I feel this interview provides a good introduction to John Hunt, the author, doctor and speculator, and I'm confident you will enjoy reading his comments - John doesn't hold back when offering his take on the current state of our society. It's thought-provoking to say the least. Read on! @Leni/a-conversation-with-john-hunt-author-doctor-speculator#DougCasey#newbies#Speculator@johnhunt#index
@Alan@bullmarketmove- thanks for sharing the interview with Nick. Really enjoyed learning more about him. Similar approach to myself. I like to find good people in bear markets, do some research and make a bet. This helps me become more likely to look deeper as I have 'skin in the game'. I don't hold as many stocks though as I couldn't keep up with that many. Thanks for the book recommendation too #thezurichaxioms. Never heard of it before. Yes the difference between a #speculator and #investing is one of my pet peeves. I think #dougCasey sums it up best and all his books are excellent. I consider royalty companies as investments as they are really finance companies. Looking forward to reading your next interview @bullmarketmove.
@AlanJust as the breakup of the Soviet Union had a good effect for both the world at large and for Americans, the breakup of the EU should be viewed in the same light. Freeing an economy anywhere increases prosperity and opportunity everywhere.
And it sets a good example. So Americans ought to look forward to the breakup of the EU almost as much as the Europeans themselves. Unfortunately, most Americans are quite insular. And Europeans are so used to socialism that they have even less of a grasp of economics than Americans. But it’s going to happen anyway.
Initially there’s going to be some chaos, and some inconvenience. Conventional investors don’t like wild markets, but turbulence is actually a good thing from the point of view of a speculator. It’s a question of your psychological attitude. Understanding psychology is as important as economics. They’re the two things that make the markets what they are. Volatility is actually your friend in the investment world.
People are naturally afraid of upsets. They’re afraid of any kind of crisis. This is natural. But it’s only during a crisis that you can get a real bargain. You have to look at the bright side and take a different attitude than most people have.
Once the EU falls apart, there are going to be huge investment opportunities. People forget how cheap markets can become. I remember in the mid-1980s, there were three markets in the world in particular I was very interested in: Hong Kong, Belgium, and Spain.
All three of those markets had similar characteristics. You could buy stocks in those markets for about half of book value, about three or four times earnings, and average dividend yields of their indices were 12–15%—individual stocks were sometimes much more. And of course since then, those dividends have gone way up. The stock prices have soared.
So I expect that that’s going to happen in the future. In one, several, many, or most of the world’s approximately 40 investable markets. Right now, however, we’re involved in a worldwide bubble in equities. It can go the opposite direction. People forget how cheap stocks can get.
I think we’re headed into very bad times. Chances are excellent you’re going to see tremendous bargains. People are chasing after stocks right now with 1% dividend yields and 30 times earnings, and they want to buy them. At some point in the future these stocks are going to be selling for three times earnings and they’re going to be yielding 5%, maybe 10% in dividends. But at that point most people will be afraid to buy them. In fact, they won’t even want to know they exist at that point.
I’m not a believer in market timing. But, that said, I think it makes sense to hold fire when the market is anomalously high.
The chaos that’s building up right now in Europe can be a good thing—if you’re well positioned. You don’t want to go down with the sinking Titanic. You want to survive so you can get on the next boat taking you to a tropical paradise. But right now you’re entering the stormy North Atlantic.
– Doug Casey