Friday, November 7, 2008

precious metals fair (munich, 07.-08. november)

gold, silver, oil, exploration, mining, much more people than the last few years (a new commodity trend or just the fear of the 2008 financial crisis?), true money instead of paper, old friends, faces behind companies from my investment portfolio ...
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what about silver producers with strong cash flow + zero debt (?) + strong management + share price more than 80% bellow their highs from march this year? what about companies where you can buy shares cheaper than their managers when founding them? or what about explorer companies with market capitalization equal and sometimes even BELLOW their CASH RESERVES? => the chances of the decade or of our whole freaking life? damned hell, is there any account of my wife or the kids i could plunder before the end of the year :o)? why so quickly? well, the new taxation of stock-market profits from january, 1st is aready agreed by german government... what else? some very good presentations e.g. james turk (gold), dietmar siebholz (rare earths and the aggressive economy in china vs. the sleeping economy in europe), david morgan (silver), rolf nef (inflation, gold, SILVER options). last but not least: a verification of the following hypothesis by myself:

THE FINANCIAL MARKETS ARE INEFFICIENT !!!

why? there have been at least 5 to 6 coin dealers, many of them provided THE SAME investment coins, just the price was different. folks, you could buy 1 oz 'vienna philharmonic' silver coin for 11.50 €uros @ one dealer's desk, few steps away for 12.83 euros @ some other dealer :o)). folks, that is 11.57% more! => ok, let's try some conclusion: well, are the markets really inefficient or just the people soooo stupid? you are right, BOTH !!!
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btw, which companies did i like most? there were many of them (current market prices offer IMHO huuuuge profit opportunities for people who still have some money to invest :o): scorpio mining, miranda gold, cardero resources, globex minig, paramount gold + silver, source exploration, bravo venture, buffalo gold, ...
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scorpio? mining? here we go :o))

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