International Women’s Day
Globex Mining (GMX) & Chibougamau Independent (CBG)
My grand-mom, who died in the 80s, was fiercely independent. She always told me never to expect anything for free. In many ways, my mom is similar. Despite being in her late 70s, when she needs grocery she never asks anyone to accompany her. Whenever I go with her, she never asks me to carry her bags. She expects nothing.
Neither of them ever thought that she was weak because she was a woman. Both of them ate after the rest of the family had eaten. For them this was natural. There was work that was to be done by men, and there was work that was to be done by women. Despite the environment of sexism that pervaded in India, I hardly remember if they ever complained about being women.
In my life, I have known many women from around the world who I admire. One of finest philosophers I have ever read is Ayn Rand. One person I have recently become a fan of is Roslyn Ross. I respect them not because they are women, but for their values.
Today is Women’s Day.
This morning on the internet I read a wish-list of an Indian girl, with her accompanying photo in suggestive clothing. She wants lower taxes for women, interest-free loan from banks, free education, and subsidized accommodation. She wants a plethora of regulations to ensure that companies deliver on her demands. She wants girls to be always and fully trusted by the courts. She wants reserved seats for women in the parliament, and in universities.
There wasn’t a mention of what she would in-turn offer to the society.
Her adolescent, irresponsible demands ironically find huge support among institutions who want votes, and among desperate men wanting to get laid.
On investments…
PDAC International Convention has recently ended. Here are my thoughts:
“I love being a contrarian and seeing tops and bottoms being created. Investors hate contrarians because most people just want their fantasies fed.” – Bob Moriarty
Globex Mining (GMX; C$0.435) and Chibougamau Independent Mines (CBG; C$0.055) are very speculative companies. At their current share prices, however, I see very limited downside risks. Both are run by the same management. I am very impressed with their capabilities to acquire and then find partners to work on projects—just look at the massive portfolio of projects that GMX holds. I am less sure about their competencies in financial matters and in promoting the companies. Despite this, for now, I am an investor, for I see negligible downside risks, particularly in GMX.
Both are very illiquid, so if you must buy, give limit orders.
On other matters…
I know some of my subscribers follow Austrian Economics, the only rational economics I know of. Those who live in India should consider attending the linked, fabulous event run by Mises India. The charge for this two-day event is $5.
I will be speaking at Mining Investment Asia in Singapore later this month.
Warm regards,
Jayant Bhandari
Associate: Rajni Bala
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