Interesting read from another site.
posted on
Jul 31, 2008 03:23PM
Producing Mines and "state-of-the-art" Mill
Hi lawman
My homework consists of the basics. Balance Sheets, Income Statements and Cash Flows. And the NAV is very important. Numbers are the only things that do not lie. One and one has always equaled two and always will. I do not give a hoot about anything but numbers.
BS means squat. Just because someone tells you that a stock is going to go up or down means nothing unless they can show you why with numbers.
History is important. The best judgment of future performance is the performance in the past.
As for MIR it will go back to the dime. Why? Because the numbers say so. That is all the intrinsic value of the thing is. And why would it not? What has changed for MIR that can justify it holding at a higher price? All I see when I look at the numbers is a pool of red ink that keeps getting deeper and the paying of bills through dilution. That is like paying your rent with your credit card. Sooner or later you get maxed out. Then what happens?
Government money? Any company or anybody who depends on government money gets lazy. They do not have to make a profit to stay afloat. The government will bail me out attitude sets in.
MIR gets it's kapows on news releases only. Not on numbers.
MIR is just a flip. Buy and sell it for a penny or two while it is in the twenties and when it gets into the teens wait it out until it hits the dime and then double up because a news release is going to come.
If you are concerned about not being in the loop when a kapow comes or if you don't believe that it is going to go back to the dime or if you were unfortunate enough to have bought in on a kapow, just split your shares into two categories. Keep some in your treasury and flip the others for the penny or two. This will do two things for you. First it will guarantee that you will be there when a kapow happens and you will not be on the outside looking in. And secondly the penny or two that you make on your flips will slowly bring the average share price of the ones in your treasury down. Win win situation.
And most importantly, Don't get greedy! Greed will always take you out. It is better to sell 1000 widgets and make a penny on each one than to try and sell 1000 widgets and make three cents on each one and not be able to sell them. The worst thing that happens when you do this is you do not make as much money as you could have made. You feel bad. It is like a person who finds Five dollars on the street. Instead of being happy that they found Five bucks they always look around for more and are disappointed that they cannot find more. Big deal. As Jim Cramer says "That is a high quality problem."
But don't take my word for it. I am not the brightest bulb on the string. Do your homework.
As for my personal information I am a Red Neck who runs his own small business. If I told you what the small business was you would say " You are not a businessman you're just a .... ......" And no, I am not a drug dealer.
.
Other than that I will invoke my right to remain silent until seeking legal council so as not to incriminate myself.
Take care and stay safe.
Mooseman.