Re: Baires says, "Viva Kimber!" Response
posted on
Jul 07, 2008 05:01PM
Creating value through Exploration and Development in the Sierra Madre of Mexico
It was, as I stated, a lighthearted questioning of the logic of a couple of the other posts that appeared to rubbish Tyhee (a company in which JP holds a large stake through his fund and which he has repeatedly stated on his radio show that he favours) as a company, while previously citing JP's involvement in Kimber as a positive factor in their view of the company.
First and foremost,
Thank you for the update from Mr. Morgan.
I just want to confirm your logic in the above statement from your recent post. The fact that JP favors both companies would logically mean that they are equals?? Is that the statement that you are making? Or is it that we should blindly follow the advice of JP? Maybe that's the conclusion that you are coming to. It seems that you have concluded that the only reason to own Kimber is because JP owns it. Yes, JPs involvement in this company is huge. Yes, I take great comfort in this involvement, and it serves as validation for me in the choice that I have made. However I do not place the honus on Jim's shoulder's to make my investments for me. Those are my decisions. After a small fortune in books and papers, I identified the sector that I needed to be in to protect my family. I then identified the company that I wanted to purchase. I purchased Yamana at @ $10. I then determined the risk/reward that I was looking for was in the Juniors. I purchased Kimber @$0.75. I then sold my Yamana at $19 and bought more Kimber. I came to the conclusion, based upon several fundamental and technical factors that Kimber was a company that I wanted to own. JPs input and favor of this company as well as his board involvement have definitely influenced me and served to further instill confidence in my decision. In fact that is one of the fundamentals that influenced my choice, but just one. Actually, Eric King's involvement with Kimber intrigues me more so than JPs. This was another fundamental. Combine the two and that is weighty indeed. Others regarding Kimber's location, head geologist, resource estimate, silver percentage, share structure, blue sky potential, proximity to other companies, year round drilling capability, etc., all played major roles in my decision.
With the other company in question, based upon reasons I have set forth in prior posts, I decided that I did not want to own it. JPs opinion of it was not going to change my mind, it simply does not trump the other fundamental flaws that I see in it. Could I be wrong? Maybe. But I don't think so, and ultimately I have to make my investment decisions upon my own conclusions. The issue I had and have is people wanting to pump another company within this forum without any mention of Kimber as a discussion topic. I still feel that it is inappropriate and this was the reason for my dripping sarcasm, and I am really not sorry. If people can't admit that this was happening here then they are quite simply blind. Should we discuss any company that JP talks about on his show on this board under the guise that JP provides a common link to Kimber? I don't think so.
I believe JP challenges folks to do their own due dilligence, to think for themselves. That's why I faithfully listen to his show. I would hope that he wouldn't hold it against me personally that I don't agree with absolutely everything he says or recommends. He certainly hasn't gotten as far as he has doing only that which someone else recommends. I greatly respect him, and his words do carry substantial weight with me.
I really don't mind losing stars and all that jazz that is why I was trying to make light of it. Really I think the whole ranking and star system is a bit goofy. The Oracle of Omaha himself could come on here, and be ranked, 'Mail Room', and one favorable comment regarding Mortgage Insurers, and he would be sure to receive quite a few 1 star votes. Not that I am in anyway trying to compare myself to Mr. Buffett. Just trying to make a point. In truth I am much like the man in my picture. I have never been accused of padfooting arround what I think. I call it like I see it, and don't intend to change. I am simply not apologetic by nature.
As for the Bull, I greatly appreciate the time an effort lent to not only post your thoughts and reflections, but in a manner that is both informative as well as entertaining. This is the first time I have heard any investor say they would prefer not to be given privileged information. I get the picture that you discuss things with Mr. King on a regular basis. That is impressive, as from his own admissions on FSN he likes to keep to himself. How often do you speak with the King? Don't tell if you can't. I understand. But please keep the encouraging words and privileged info coming. EC maybe you can close your eyes.
Last thought: Agoracom eliminated my Mole people comment in a prior post. I just wanted to take this opportunity to apologize to any Subterranean Latin Americans that I may have offended. It was uncalled for.
Seeker