--------------------------------------------------------------------------------------------------------------------------------------------------------

Intro

--------------------------------------------------------------------------------------------------------------------------------------------------------

I will begin this week with humble apologies. Last week I got all excited that a company I follow was halted over American Thanksgiving... of course why would any junior release big news when such important markets are closed for the day? I should really have thought it out a bit more (it turned out that PX - the company I wrote about - announced a financing below market).

Anyhow, to those new readers who read the last post, I usually don't do that sort of thing. Experience tells me there are so many stories out there in the markets that if you miss one... another will be along soon... no matter how urgent anyone says you should buy in or sell out. If you invest - as opposed to daytrade - there's always time and I am a very patient squid indeed.

--------------------------------------------------------------------------------------------------------------------------------------------------------

This time is different.

--------------------------------------------------------------------------------------------------------------------------------------------------------

In an earlier post (*) I suggested a very good book that was easy to read and dealt with investing during "The Great Depression". If you are a bit more of a data driven quant type, the Reinhart and Rogoff title "This time is different" could be an interesting follow-up. They go into excruciating detail about financial crises over the last 800 years.

These crises include foreign and domestic debt defaults, exchange rate collapses, and periods of excessive inflation. Personally, I like the book, but think they could have expanded the "What have we learned?" section a little more. Of course, as I am convinced that there is no one correct answer here, any expanded conclusions would border on the speculative.

 

(*) http://www.stockhouse.com/Blogs/ViewDetailedPost.aspx?p=118473

 

For things that the average investor can do, a good start is the Financial Sense Newshour...

--------------------------------------------------------------------------------------------------------------------------------------------------------

Some great weekend listening...

--------------------------------------------------------------------------------------------------------------------------------------------------------

The Financial Sense Newshour (FSN... http://www.financialsense.com/financial-sense-newshour) is one of the truly great podcasts out there. I urge people to listen to it. This week I found that the two recommended interviews left me in differing moves...

"Technician John Roque: Focus on Safety, Large Cap, Liquidity and Yield (SALLY)" - was a positive message that you too can survive in tough economic times! ( http://www.financialsense.com/financial-sense-newshour/big-picture/2011/12/03/01/john-roque/focus-on-safety-large-cap-liquidity-and-yield ) While...

"Ann Barnhardt: The Entire Futures/Options Market Has Been Destroyed by the MF Global Collapse" left me feeling like I need to buy a farm, a gun, and a really mean dog. (http://www.financialsense.com/financial-sense-newshour/guest-expert/2011/12/01/ann-barnhardt/entire-futures-options-market-destroyed-by-mf-global-collapse)

With that in mind you might want to save the John Roque interview for evening listening... you'll sleep better. (I should also comment that I am not associated with this site in any way... I just listen to the podcasts and like them)

--------------------------------------------------------------------------------------------------------------------------------------------------------

Resource Stock Purgatory

--------------------------------------------------------------------------------------------------------------------------------------------------------

Lastly for those who are interested, I still hold positions in PX, GBB, ROZ, SAC, and PFC. As this entry is starting to get a little long, I will update my investment thesis for these names in a later post... but suffice it to say times have been tough. In short however...

PX has just cashed up and making good progress towards a 43-101 on their Manfo property, drill results for Manfo and Obuasi are pending.

GBB turfed their old geology consultants and hired SGS to do their 43-101 by Q1 2012, drill results pending

ROZ is way ahead of schedule on their latest wildcat well in Western Australia and should announce some news soon.

SAC is working towards pre-feasibility and has lots of cash

PFC is waiting out the rainy season in Northern-Central Australia and will start fraccing in January.

Anyhow... these are all interesting stories in some way (in a geological way that is) and they are certainly cheap... but hey... what isn't these days.

--------------------------------------------------------------------------------------------------------------------------------------------------------

Closing and Disclosure

--------------------------------------------------------------------------------------------------------------------------------------------------------

Anyhow... I think I've said enough so good luck and happy hunting.

A.

Do your own DD from reliable third party sources. Don't trust my words as if they were Gospel... while I like to

think I am an honest Cephalopod, I am not a fiduciary (relative to you the dear reader) and thus you should not

act solely on my advice. Take anything I say 'with a grain of salt'.