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What's The Market Smokin?

Yes, I am always humble in the face of the market. But I want to know where the market is traveling on Generation Mining? Indeed, what is the market smokin!? Are Cheech and Chong the market makers? While this post is a bit cheek in tongue - yea pricing is so out of order "tongue in cheek"  - is too rational, take a glimpse at this stock. The April 2021 presentation deck at GenMining.Com is an excellent recap.  Let's start with a bit of history. In 2012, Stillwater sold a 25% stake in this Marathon project to Mitsubishi for $81 million. At the time, palladium was trading far below today's levels, and the opportunity was viewed as a copper mine...

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Generation Is The New Green

Every stock investment has an associated risk and reward. On the risk side, the question becomes an analysis of the probability and magnitude of the possible downside.  I often buy stocks where I perceive the longterm exposure to be modest in comparison to the potential upside. I have frequently written on my Twitter stream, and here, on Generation Mining, a palladium and copper development mine with a tremendous resource, an "abundance of infrastructure," (to quote a positive BMO report) and an excellent executive team. I think Generation Mining is the new green, given its metal portfolio, its ESG sensitivity, and suggestively, the amount of money this project will make its investors. I am not going to repeat the logic of this investment,...

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A Couple of Stocks For My Mother

Well, I love my mom, and I also love Pfizer and Cisco at today's prices. Pfizer, one of the largest drug companies in the world, with Roche and Johnson and Johnson, is an essential part of the world's fabric with an unassailable balance sheet, and a dividend today of 4.6%, at $33.99. That is just to cheap. Total market cap for this massive, modern enterprise is only $193 billion. Just doesn't sound like much. True, enterprise value is $244 billion, but that is modest for the significance of this company. Cisco fits into a similar pattern. Market cap is similar to Pfizer, at $192 billion for a supremely well managed and diversified business, that is repositioning, however disappointing its strategic...

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Generation Mining - A Once In A Generation Opportunity?

A few disclaimers right at the start. I am not a mining engineer, or any kind of an engineer. I am not a CPA or a financial analyst. Generation Mining is a development company, and there is an art and a knowledge base that helps in evaluating these kinds of projects. But... I was a General Partner of Lazard Freres. I have been in the markets since 1972. I thoroughly understand discounted cash flows and math as it relates to investments. Yes, I am an intuitive buyer but always have a focused and serious micro and macro perspective and put significant weight on management caliber. I do know the platinum group metals well, and as you perhaps may have noticed,...

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Everyone Needs A Home - Even Money!

I heard on CNBC this morning that Carnival, the cruise ship company, just raised $3.5 billion of unsecured, senior notes, due 2027, at a yield of 5.75%. WOW! It wasn't  many years ago that this would be a 6 year US Treasury yield. OK. We are clearly in a different era, but would you really give unsecured money to Carnival at this rate? Well, I suppose one can argue that it is better than Greek bonds close to 0% or so many instruments that offer, incredibly, negative returns. Still, the message here is important: 1. There is an enormous amount of money looking for a home. 2. There is serious pressure to lock in yields, from insurance companies, to pension...

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