Carl Icahn and Warren Buffet buy lots of shares of companies and write letters to their BOD's and CEO's with recommendations and/or personal advice to them. I'm not sure they have ever been responsible to the shareholders for how a company's stock performs.
In general it usually pays off to follow the money. Both RM and AEM left RBY after a fair amount of DD by both. Individuals and companies generally don't sell out of promising investments and/or equities.
I'm agreeing with Jazen that RM was shielded, not part of executive management and not a board member, both of which are involved formally in day-to-day activities that include news releases and major company decisions, respectively. RM owned a lot of stock and sold it at just over $4/share accompanied by a public news release blatantly stating his stock sale. AEM also took a stake in RBY and then sold it, lots of clues that something was wrong in RBY land that many boys on this mess board did not want to believe or were pumping the stock.
I tend to agree, RM did not hold an executive position, but simply knew when to sell, kind of like AEM, both strong signs that all was not well with RBY. The excuses that surfaced on this mess board from both of these sales were filled with eternal optimism.
jennie/kg/exposing, don't forget David Adamson and Winship, two guys that were on ship for quite some time. DA CEO and Winship on the board. DA was an incredible salesman, his only flaw as a salesman was that the goods did not sell at peak price, so he sold many, many options for just over $1.
As your aware, smart money jumped into PM equities sometime ago, and some hit home runs with stocks like MUX, a four bagger from $1/share. It should be an interesting earnings season with low hurdles (outlook will be of paramount importance) and more than likely at least a semi volatile market pre-election which may yield more room to run for the PM space. Oil is also interesting and could be range bound from 45-55, but tough to tell as we approach the middle of summer. The market did show quite a bit resilience after Brexit, but I believe there is more to come on that topic which could add to pre-election volatility.
"This is off Topic! WHY ZERO BUYING INTEREST IN RBY AFTER BREXIT?!?!?!?!? "
Good question for the annual meeting on the 29th, but if my memory serves me correctly they have a lot less gold than first estimated, it's very expensive to get the gold out of the ground, they laid off their entire work force, they have significant debt obligations and may have breached a debt covenant or so, can't recall for sure. Maybe just one of these issues or all of them combined could be effecting the share price, your guess is as good as mine.
With all due respect KG, it appears that you purchased RBY near it's peak, I hope you did not also purchase your home near the peak in '06/'07. I'm not sure if they are going to correct, but I am seeing a slight slow down, plus a prominent home builder's stock went down recently, Lennar, which could be a signal. Time will tell.
If not for an election year, Brexit may have been the first domino to fall, but I tend to agree that Yellen will chirp out something this week to try slow down and/or reverse the stock market pull back. I do think the market will struggle with general uncertainty associated with Brexit, at least in short term, and should struggle somewhat with general uncertainty associated with the US election, but this may or may not occur based solely on the current political climate.
On a completely different note, talk about herding in a few more sheep before they get slaughtered:
“But the Brexit vote also appears to have had a somewhat surprising consequence – it has at least temporarily driven U.S. mortgage rates lower as international investors look to America as a bastion of investment safety.
"When there's uncertainty outside of the U.S., investors move to safer investments. And in this particular case, we're seeing an interest in U.S. mortgage-backed securities," says Erin Lantz, vice president of mortgages at real estate hub Zillow.
Throughout Friday, investors from around the world poured cash into what are considered to be safe investments in order to shield themselves from international stock markets' monumental losses. Some invested in gold – sending prices skyrocketing – while others turned to the newer and generally more risky Bitcoin.
But many others funneled capital into America's mortgage-backed securities market. These types of investments are backed by a mortgage or a bundle of mortgages and are generally considered to be a safe bet for domestic and international investors alike.
I do think we are getting closer to home prices declining and it turning into a buyers market vs sellers market. However, this may not occur until late 2017 or so, but IMO we are getting closer to the psychology reversing.
I hope everyone survived the results of Brexit today, quite a drop. I went completely into cash about a week or two ago due to the market and charts not making much sense, less sense than even before. It should be an interesting Monday, but I think there is a lot to digest and learn from this vote that will take more than a weekend to fully understand its implications.
Also interesting that Yellen recently spoke and pretty much said everything is okay and on track, but Greenspan spoke today and said that the global economy is in serious trouble and that his biggest fear is not a recession, but stagnation. I'm sensing more stimulus may be coming our way at least once more. This begs the question when will the general market forces ever take over or do low interest rates remain for the next ten years and the US dollar goes to zero, interesting times.
Lastly, in all fairness to Yellen, she also didn't see the housing crisis coming back in '08/'09
Come one, come all, get in before it’s too late!
We had a hawkish Fed, now we have dovish Fed. Japan and Europe have negative yields with their equity indices down about 20% year over year. US data is slowing, what’s not to like?
The market will probably reach all-time highs and maybe even climb further this summer beyond rational belief. The Fed being dovish combined with an election year is very interesting to say the least. I'm now thinking a rate increase will probably not occur until September, which could cause some turbulence associated with uncertainty, but being an election year maybe not. The market continually gobbles up bad news without flinching. I’m enjoying the ride, but will probably peel off some profits and increase my cash position in the near term.
RBYCF recently floated with the tide, nothing and nothing less. You and others continually over estimate the short interest effect on this stock. According to Yahoo, RBYCF's float is about 393 million with a short interest is less than 5 million. I hope you will not surprised if they close up shop and put an out of business sign on the front door.
It's really been a spectacular week thus far, maybe it's due oil, the US dollar, and possibly because it's an election year, or a combination of all of the above. I hope everyone is enjoying this almost random rally.
Thanks for the warning. Several flaws in the paragraph above:
"He has a proven record of creating shareholder value and providing leadership in public companies at both management and board levels."
Let's face it, he created shareholder value and made many, many millions for himself, but was also very good disintegrating shareholder value.
"He was a co-founder of Rubicon Minerals Corporation which, under his leadership, rose from a $9 million to a $1.2 billion company which is recognized as a leading near term gold producer."
Very poor example to be associated with a sham company.
"During David’s tenure Rubicon graduated from the TSX-V exchange to major listings in both Canada and the USA He is the recognized co-discover of the world class F2 gold deposit in Red Lake ..."
"World class", did anyone proof at New Castle proof read this paragraph?
"Also heard the owner of hedge fund saying his firm is shorting BABA because they don’t think numbers from that company are correct."
BABA down today over 7% due to SEC probe on their accounting practices.
The market indices were hovering at about even for quite some time, glad they all of the sudden chose to go north. Most experts predicted south, which could and will occur at some point and time, but hope everyone is enjoying this ride.
Absolutely! This has really been a wonderful rally to begin the week and I hope everyone is enjoying it. I don't expect it to last, but no need to fight the tape as of now.
Tim Cook said:
"The holy grail of the watch is being able to monitor more and more of what's going on in your body," he said. "It's not possible technologically to do it today to the degree that we can imagine it, but it will be."
I can't help but think that with the iPhone 7 package containing Bluetooth earbuds that this will help to decouple the Apple watch from the iPhone while exercising, etc. I'm sure hoping for some have to have's with the new iPhone 7 and hopefully the Bluetooth earbuds that will come with it and since it will be thinner than previous iPhones will be somewhat of a hook to upgrade. I'm also still waiting for the next generation watch for a possible purchase, because I simply don't buy anything first generation.