BAT.V, Batero Gold

BAT.V

This company has strong financials, robust prospects and is situated in one of the most promising mining areas of Columbia, right next door to Ashanti (AU) and Seafield (SFF.V). Had you invested in 2008 when this company started its life in this form, you would have been very rich by the time the stock peaked in March of 2011 at $6.50. Had you bought then you would now be very poor. This is what is known in the market parlance as timing. You will always be told that timing the market is a fools game that you should not indulge in. We think that you are being foolish if you don’t.

At 9 cents this thing is down about 98.5%. It is instructive to recognize that , despite that, the stock can still easily drop another 50%. This is financial math that is different from normal math. But if there are fundamental reasons to believe that this stock has a viable future, than buying low and selling high, that is timing the market, makes a lot of sense.

FTSE (Footsie) update

FTSE NOV20 2013ftse nov 20 2013 s

It was half a year ago that we latched on to the Footsie as one of the most   “expressive” indices , that had completed a very clear 5-wave down movement. The A-B-C that follows is essentially identical to the much larger A-B-C B-wave from the March 2009 lows. So far, despite retracements reaching almost 100%, these patterns have not negated the larger notion that the FTSE started its bear market back in May/June of this year. So, if it is not broken, we will not fix it and just wait to see what happens next.

Balloon dog

balloon dog

We all heard about the $140 mln Francis Bacon triptych that sold at auction the other day. This balloon dog missed the limelight but actually beats the triptych. For one, there is only one dog, not three. Furthermore the guy who made this is alive and well making this the most expensive piece of art by a living artist. $58 mln!!! Can you imagine how this guy, when short on cash,  could just go into his basement and work for a few minutes and be OK for another lifetime. No inflation?? And to think that my mom always told me to stay away from artists and their kin.