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Investment Ideas / Re: ALS.TO - Altius Minerals
« Last post by nostradamus on September 20, 2018, 11:49:23 PM »
Giving Glencore that 40 percent offtake was a massive mistake, for which MM must take full discredit, but I would not see it as a nail in the coffin.

The offtake is worth nothing for Glencore if Kami doesn't get built. Glencore want Kami to get built, and so they could end up being part of the solution (eg helping with the financing?) rather than the problem. Also, if the offtake was the only thing holding the project up, I'm sure Glencore would be willing to come to some kind of arrangement. Better to be paid off than to retain an offtake on a project that never gets built.

 
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Politics / Re: So Desperate
« Last post by Gregmal on September 20, 2018, 11:44:26 PM »
The Left taking a page out of the Lavrentiy Beria playbook "Show me the man, and I'll show you the crime"

Led by Kirsten Gillibrand - and she's an attorney. Incredible.

You shouldn't be surprised. Pocahontas made her name railing on the big banks for foreclosing on people circa 2008...Meanwhile she made her pre-politician fortune ripping off old people and buying foreclosed homes for quick flips. Politicians are special people.
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Books / Re: Fear - Bob Woodward
« Last post by Investor20 on September 20, 2018, 10:02:20 PM »
When you read Buffett (i.e. more than just the abstract you posted) you'll see that he believes that a nation that lives above its means has to finance the consumption above its production somehow. The way nations do that is abroad through a budget deficit. So the way to get rid of the deficit is to stop living above its means.

When you listen to Trump you come to the conclusion that he thinks the two things are not connected to each other and all you have to do is impose tariffs and the deficit goes away.

The nice thing about Buffett is he stands by his word weather he likes Trump or not and yes there are differences in thinking between Buffett and Trump, but in wanting low trade deficit and the way to go about it, Trump is the closest politician to Buffett thinking (compared to Hillary or 16 other republicans).

To quote from fortune magazine below:

"My remedy may sound gimmicky, and in truth it is a tariff called by another name. "

http://fortune.com/2016/04/29/warren-buffett-foreign-trade/
Warren Buffett: Here's How I Would Solve the Trade Problem
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General Discussion / Re: Dumbdee - The Goodmans, The Bad & The Ugly - 30% of NAV bargain?
« Last post by Rod on September 20, 2018, 09:47:16 PM »

I guess when Dundee reports Q3 the common price may turn south again... more losses at Parq, no update on asset disposals, something catches fire, etc.  ::)

I think everything flammable has already burned, so we are probably safe on that score.
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Investment Ideas / Re: GCM.TO - Gran Colombia Gold Corp
« Last post by SafetyinNumbers on September 20, 2018, 09:43:48 PM »
Also there was an attack on Continental Gold in Colombia last night that killed three of their geologists - not good for sentiment.

Which is why it makes sense that CNL was down 30bps and GCM was down 430bps while the attack was an 8 hour drive from Segovia.

A gold stock with no analyst coverage leads to a skittish investor base.
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Politics / Canada constitution and commonwealth
« Last post by shalab on September 20, 2018, 09:18:32 PM »
Just clarifying how things work in Canada as I don't know enough.

Does the queen of England have power to dismiss governments? Canada is still in the commonwealth.

Also - does Canada have US equivalent of "bill of rights" or constitutional rights for every citizen?

thanks in advance!
shalab
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Politics / Re: Mr. Trump to Impose Stiff Tariffs on Steel and Aluminum
« Last post by rb on September 20, 2018, 07:35:06 PM »
https://ca.finance.yahoo.com/news/canadian-officials-mulling-attack-u-s-pharma-says-ottawa-lawyer-165038690.html

Nice find.  It follows that if Canada were to demonstrate that 'compulsory licencing' can be legally done - most other countries would likely do something very similar, and the value of US Pharma would essentially collapse. Canada would also come out net positive, as the cost of the generic will be a lot less than the name brand - and we buy in bulk.

And just to twist the knife ;)
A China would simply copy the US brands and flog the generics back to the US - in quantity. Everybody gets cheaper drugs, the US/China trade deficit declines, and China is now your best bud! Trade can be such a bastard ;D

SD
It's not exactly a great find. It was initially an article published in Maclean's. That's a majour Canadian magazine for our American friends.

It's really more of a Canadian style shot across the bow. Think well before you try to fuck with us.
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Berkshire Hathaway / Re: Buffett buybacks: Could Berkshire tender stock?
« Last post by longinvestor on September 20, 2018, 07:24:25 PM »
So the discount for the B-shares compared with the A-shares has been  closed. Two months ago the discount was 4%. Isn’t this an argument for there being heavy, committed buying in the B-share?

Personally, I'm not sure of what we can deduct from this fact, SwedishValue,

Berkshire has run up quite a bit recently, that's evident though. Somehow it all boils down to who's buying, and why - and personally I don't know the answer to that question.

All we heard was that quip “Yeah we bought a little”. Apparently those  five words mean a lot. Don’t know of any other mortal with such market force speak.
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Investment Ideas / Re: BPR - Brookfield Property REIT Inc.
« Last post by John Hjorth on September 20, 2018, 06:41:13 PM »
Thanks, ValueMaven,

[Pretty annoying before fix, when one search.]
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Investment Ideas / Re: JD - JD.COM
« Last post by siddharth18 on September 20, 2018, 06:17:23 PM »

Picture it this way: You're happily riding along in your wagon full of stock certificates until your horse (JD.com) and jockey (Richard Liu) break free of the faulty harness (a Cayman Islands holding company) and run off. Now you have to go to the sheriff (the Chinese Communist Party) to try and get recompense. Better bring your Colt .45 because it might get ugly.



But Richard could have done it in the past, and can in future do it, even if we assume that the sexual assault incident hadn't happened. So in your view does this event, or will an indictment increase the likelihood of Richard doing what you just described?

From Richard's point of view - he'd not just be a rapist in the eyes of public, but also a thief which means he can never raise capital again. Plus, the number of investors who would give capital to Richard accused of a shaky sexual assault case is likely larger, because investors only care about execution and return, compared to zero investors who'd give him capital after Richard is accused of theft/fraud.

A very likely scenario is him making his wife or a trusted family member or a trusted employee the CEO/Chair but still be involved in leading JD forward due to his substantial economic interest.

Also I'm not sure how Chinese government would allow a single and relatively small company stiffing American investors when there are hundreds of billions of dollars invested by Americans in Chinese companies collectively and these companies collectively benefit from having American investors around. The needs of the many (Chinese companies needing American shareholders' trust) outweigh the needs of the one company - JD (that is angry at America). So, logically, wouldn't Chinese government be against JD cheating American shareholders and damaging China's reputation and increase cost of capital for all Chinese companies? I'm not saying Chinese government would send your investment back to you on a silver platter, but there's a chance that Chinese government acts rationally and acts in a way to keep the trust alive and prevent the trust in the ecosystem from plummeting.

Based on Richard's previous conduct I think he does deserve the benefit of the doubt as far as integrity involving matters of money is concerned. He refused to sell counterfeits, refused to renege on a verbal promise with Tiger Capital, refused to dilute Capital Today's stake.
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