The Decline of the Third World

Exore Resources, etc.

The terms “emerging markets” and BRICS have so much taken over the imagination of investors that they have come to expect most of the future economic growth to come from them. What most people might not have paid attention to is that over the last decade, except for China, “emerging markets” have been stagnating. The situation in many is actually getting worse. Turkey is an interesting example. Exactly when it was getting prosperous, it was also getting increasingly fanatic. In the following article, I give my views on why these countries have an instinctive pull towards the dark ages:

On Investments

The Canadian Venture Exchange has gone up by more than 100% since the middle of March 2020. I have been selling a lot. I am also moving some of my money where my downside is better protected. Here are a couple of those companies:

• Exore Resources (ERX.ASX; A$0.092): It is being acquired. The deal is expected to close by mid-September. There is a 17% arbitrage upside. Given that ERX is a small company in comparison to the acquiree, I wouldn’t be surprised if the arbitrage increases as we get closure to the merger date.
• O3 Mining (OIII; C$2.25): OIII, in my view, has the most upside for the least risk among the stocks I know. My friend, Brian Leni, recently interviewed with them, which is linked here.

Warm regards,

Jayant Bhandari

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