Good Reads
The 21 for 21 Streak
The day after the midterms, gold jumped 3.3% and silver almost 5%, as the dollar slipped. Oil dropped 8% on hopes of an Iran deal, and traders still expect the Fed to hike again in December. That bounce started from a one-year low. By the end of October, gold was more than a quarter below its January high. Silver had lost more than half from its high and almost a third on the year. Read on »
The Blue Tsunami Nobody Voted For
Republicans just got their seats handed to them in a blue tsunami. Plunging the republic into a two-year clown show that - spoiler alert - will accomplish precisely nothing angry voters wanted. But it will punish Republicans for failing to deliver what they’ve been promising since Nixon -- a smaller government, lower inflation, and an America-first foreign policy. Read on »
Learning to Speak Vancouver
Part 1 and Part 2 covered what’s in the ground and how a junior rounds up the currency to spend on finding it, delineating it, proving it and planning to extract it. This final letter in this three-part series covers what a mine might be worth, what the market thinks it’s worth, and the method we use to judge. It’s the dialect spoken in Vancouver, where more juniors are run and promoted than anywhere else, and in Toronto, the center of Canada’s larger financial markets. Read on »
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