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Showing posts from June, 2020

Back-up for Gold Bulls Seeking Alpha Article

This blog is back up for my Gold Bulls: Eldorado Gold Scores High on Value article on Seeking Alpha. Leverage graph: Valuation Calculation Proven & Probable Resources Production Guidance Contained Gold 000 oz 2019 2020                       2,019 2018 2020 - pandemic adjusted 2020-pre-pandemic  2020 guidance  production costs/oz total cash costs/oz all-in sustaining/oz production costs/oz total cash costs/oz all-in sustaining/oz AEM                    21,585 22039                                 1,680,000                      1,875,000                      1,680,000 735 673 938 765 1050 AGI                       9,726                          445,000 1010 790 1040 AUY                       7,859                          990,000

Revisiting November 2017 Gold Analysis

I will be publishing a new gold analysis soon but I want to first revisit the analysis I did in November 2017. In November 2017, and over the course of three Seeking Alpha articles I looked at gold companies.  In the first article I looked gold companies trading in the US with the following characteristics: leverage, valuation and sensitivity to gold prices.  In the second article I looked more closely at a short list of four companies that did well under the criteria of the first analysis.  The third repeated the analysis on Canadian miners. Here is the performance of all of the companies over the past 18 months If you click on the "All Securities" link you will see the break down of all the companies in the list. This blog post is going to look at the three components of the first article to see how predictive each was to the overall return. Leverage Factor The first factor was leverage and the criteria was for highly leverage companies (read the article if

Was It A Good Call? NVO and Major Pharmeuticals

I published my very first Seeking Alpha article on January 9th, 2017. I looked at 11 companies classified as Major Pharmaceuticals: PFE AZN NVO LLY GSK BMY ABBV SNY NVS MRK JNJ I concluded that NVO was the best choice as it was undervalued, had high quality earnings and five years of year over year growth in earnings. How did that call do, roughly 3.5 years later? We've added a new feature to INVRS called Performance Graphs.  Let's take a look: The green bar shows the average return for the group, the purple annualizes it and the blue divides adjusts the return for risk by dividing it by its standard deviation. Clicking into the "All Securities" at the bottom breaks the group into its parts.  NVO wasn't the best.  It was third from a return perspective and second from a risk adjusted perspective.  It was double the group average. LLY and AZN, based on my method of analysis did not have anything to recommend them.  They weren&#