|Thanks Maxi. Will have to see if it can be used somehow. Although it does not appear to agree with the above 'didthesystemcollapse' link!|
|If you find such a rolling chart Eintracht, let me know. I doubt that Kitco will be in any hurry to provide one!
The price differences can be seen here:
But that is not suitable for running in the header.
|Is it worth having the SGE Gold Chart in the header either on its own or superimposed over the current header Gold chart ?|
I will take the VC1 results over to my gold stock comparison BB rather than risk eliciting non-MML comments here.
|Thanks RT wise words. I do agree. Time will tell ,as always.|
|Ilostalot they are good at it and based
On recent form they can keep the ponzi
Scheme going on for a long time.
We may be intellectually correct but that
Counts for nothing.
In football it is a results business
In investments it is a results business|
|Chip, re 36792 (First Majestic)
Apologies board for not strictly on topic (MML), but kinda related.
Just as a point of discussion(no critisism of your valuation methodology), however if earnings were low due to increasing exploration budgets, building new extraction processes to increase recovery rates and increasing throughput capacities, all costs hitting the earnings, might give a false impression at exactly the wrong time....ie the important preparatory work done in anticipation of the next 'bull' leg higher....timing, might in this case be crucial and one thing Keith Neumeyer has, is experience.
Also, whilst although the earnings are low, the rate of change in earnings might give a better indication, coming from a loss situation.
Just some other thoughts to juggle.
understand you frustration, but IMO what's going on at the moment is one massive Ponsi scheme in confidence building (maintenance) by the establishment. If you read the current article in Bloomberg that quotes a number of Euro establishment figures, they would all have you believe there is no problem as a result of the Italian referendum.
I don't believe it. At some point it will fall apart and I think it is ('eventually') coming. When! is the $64K question and nobody knows the answer to that, but there are now too many events that have happened that have gone against the establishment and have proven to be outside of their control to believe the status quo can last. Personally, I've never been more comfortable holding physical gold despite the machinations of the corrupt markets.
|Yes Atlantic Gold could well be suppressed for the next 50 years.
I thought it was meant to act as a store of value. It's frustrating when you consider these three big events has created uncertainty and pushed gold downwards. It doesn't make sense to me.
More manipulation !? They're bloody good at it. To good.|
|The powers that be can do it forever- that is the problem.|
|Just more price rigging by using the Futures market to force prices lower.
In a rational world (or free market) why would gold & silver drop against the Euro/Pound/dollar when so much uncertainty exists after these protest votes?
It is what it is - a manipulated market - like so much these days.
Even the fines paid by Deutche Bank for rigging the PM markets in collusion with others for many years is not considered news-worthy by our bought and paid for financial journalists.
It is all so blatant now. Not even any pretence. As all the currencies weaken Gold must on no circumstance or event be allowed to alert the general population that something is amiss.
|Yes indeed but golds reaction to the unravelling is to keep falling.
It looks the US dollar not gold us the currency of choice.
Brexit, Trump and now renzi|
|... and as things look to be unravelling in Europe everything continues as normal. We haven't hit an ice berg. We aren't sinking. Keep playing the music!Cheers,Niels|
|Chip, still makes one wary of the CEO being a very good promoter, might be a 'play' more on a publicity spike, but i would be keeping your valuation metrics at the back of my mind. Gut feeling, we still have further falls to go, so could see FR(AG)$8.6 CAD ???|
I really like most things about AG, especially their CEO, but their last financials were still a bit below par, hence the rating by this method.
I had thought my existing method was at fault because it kept printing an over-valuation - even by N.American market standards - but this new method would appear to bear it out.
However, it is such a popular stock it may well ignore fundamentals and get bought anyway. Earnings (or rather lack of) certainly don't appear any hindrance to much of the S&P or DOW!!
|Many thanks chip, appreciate the amount of work you put in to get these figures.
AG came in at 61st with a score of 241.
That is in line with my current valuation method.|
|I'd just like to point out that chip is completely wasting his time applying the O'Shaughnessy VC1 to gold miners.
Because 2 of the 5 criteria are exceedingly misleading:
1) Price to book - as we all know the book value of a small gold miner is a fairy tale value and bears no relationship to what somebody would be prepared to pay. And after the development - the gold is taken out - once.
Whereas if you set up a production line for widgets - you get production year after year.
2) Price to sales - a normal company that spends $250 making a product sells it for about $400.
But a gold miner (like MML) spends $1200 and sells it for $1250 (and I'm being generous in implying that they actually make a profit).
Also -- being high on the list that chip chooses -- is a simple indication that the professional investors believe that the Directors are lying.
The less they trust the numbers - the lower the price - the better the score.
It works for big well run companies, who have a reputation for honest reporting.
It doesn't work for small gold miners - who as we have all seen are a complete bunch of liars.
If MML have been dishonest with their forecasts over the past 5 years -- who in their right mind would believe that they haven't been similarly dishonest in their claims for AISC and what is CAPEX rather than an ongoing expense?|
Italian pollsters got it right. Looks like they weren't bought.
Is this the beginning of the end for the Euro?
|Chip, applying your methodology, it would be interesting to see what TSX:FR(First Majestic Silver) scored after such a brutal correction?
|Thanks Chip very much appreciated.
Aaz up there as well another of my stocks.|
|Cheers Chip, as ever thanks for your efforts and sharing the results
|Hi Deka, you are very welcome!
Here is the results from the new iteration. I have updated all prices iaw Friday's close and adjusted Forex rates for USD, GBP, AUD & CAD.
Then scored according to the best under-valuations for each of PER, PBV, PSR, EBITDA/Ev & PCF.
As expected, many of the previous top under-valued stocks have corrected since the June 30th Financial period end.
Stock ... score
AVM 53 (bit of a surprise!!)
That's enough I think.
I have used a standard fixed reduction score for any negative results encountered.
I am a bit behind on some company financial reports - will try to catch up soonest.
Not quite the results expected for some of my holdings. SVM is 152, PAF is 157, SSRI is 124, and SLW is way down at 233. But all the streaming stocks look pretty highly valued FNV 271, RGLD 248,SAND 227, but given their very different business model, perhaps this is to be expected.
Still need to find a way to automate things a bit better - so still some work to go. But pleased to have discovered this particular screening method - so thanks 'rrr'.
|Chip as always many thanks for sharing|