5 Weekend Reads: Howe Street Edition
Published in November 5, 2011on
In 1991 SI came to Vancouver to profile the BC Lions football team. After meeting the team's owner, fabled mining promoter Murray Pezim, the focus of the piece changed to Howe Street's most colourful player. SI wrote, "Murray Pezim lives somewhere beyond Outrageous. To get there, drive to Crazed, keep going toward Bonkers via Berserk, then slow at Around the Bend and look for signs." This is a very funny read from 1991 and provides some context to the highs and lows of the Vancouver venture markets.
2. CB Gold men make millions after drill results (StockWatch)
Earlier this week StockWatch shined a light on 2 Vancouver gold mining promoters who turned $100,000 into $30,000,000+ on the back of some great drill results. Having spent the last 3 years risking their necks in Colombia and Howe Street (which place is more treacherous?), and delivering to the market the 2nd best drill hole in the history of Colombia with gold at all time highs, I think they earned it. They made their own luck and this StockWatch piece shows how it all went down. A highly recommended read.
3. The Big Score: Robert Friedland, INCO, & The Voisey's Bay Hustle (Amazon)
Arguably the most dynamic character in the resource exploration business is Robert Friedland, chairman of Ivanhoe Mines, early friend of Steve Jobs and billionaire many times over. The Big Score is an exceptional profile of Friedland, the Voisey's Bay discovery and eventual $5B sale to INCO. "Quite simply, the best Canadian business book I have read in many years" said The Vancouver Sun. I recommend every investor in this space get a copy.
4. A Story of Fear, Hope, Panic, and Euphoria (StockSage)
When I met Robert Sinn AKA "The Stock Sage" in New York last month he told me about making 40 times his money owning Copper Fox Mining shares on a recommendation from Lawrence Roulston. I urged Robert to write about his experience which he did, and I was proud to republish it here. Robert said, "To say that junior mining stocks are “high beta” is sort of like saying Barry Bonds “took a few supplements”." A great read by one of the brightest minds in the investment business today.
5. Marin Katusa's 20 Rules for Selling (Casey Research)
As Marin says, “Any idiot can buy something but you have to be smart to get out of it without losing money." In this presentation Katusa walks you through the secret to making money with junior resource stocks - selling early. I encourage you to pay close attention to this vid and the career of Katusa, a young-man but already a powerhouse in the junior resource business.
Remember the old Howe Street adage: Never let the sun set on a bid! It might not be there tomorrow.
Have a good weekend.