Musings on Investing

The Rising Radical Left

Gold X

The radical left is the most repulsive segment of society and increasingly dominant in the West. You can blame socialists for not understanding economics, but the radical left hasn’t anything to do with economics. It merely has no honor, no pride, no self-respect, no spine, and instead of learning some skills, it forever wallows in the sense of victimhood and suffering.

What makes the radical left of the West particularly repulsive is that they were fortunate to be born or find refuge in the West, and still, all they managed is to whine.

When I heard that Twitter blocked Trump’s account, I felt that it was happening in India, where everyone likes to control everyone else. And no wonder, the architect of the cancel-culture in Twitter seems to be an Indian woman, Vijaya Gadde, who claims that her dad had to take approval from a local Ku Klux Klan head to operate in their town in the US. Maybe her story is true, perhaps not, but I do know the outrageous lies people of the Third World learn to make to survive, and then keep that habit.

Gadde and Pichai (Google’s CEO) today have more power than any other institution in the US. And I don’t feel good about it. Here is a conversation I recently had with Maurice Jackson:

On Investments

I am in no hurry to buy Gold X (GLDX; C$2.70), but I hope for weakness or the next financing before starting to accumulate it. Linked is a discussion Cork Fleck and I had about GLDX.

Usually, I like to write only about resource companies here, but I spend a bit of my time looking at opportunities outside. Two days back, Sprott organized a one-day webinar, in which Adrian Day, Rick Rule, etc., discussed value-investing. I certainly learned about it by listening to their many past talks and reading Graham & Dodd’s books.

Here is one Hong Kong-listed company that I like on a value-investing basis: Agile Group Holdings (HK: 3383; HK$10). Agile owns shares of A Living, which justifies 67% of the market capitalization of Agile. If you deduct the attributable value of A Living from the share price of Agile, the adjusted P/E is closer to 1. BV of Agile is HK$14 even before you adjust the balance sheet for the value of A Living and revaluation of the properties of Agile.

Jayant Bhandari

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