Everything is easy with hindsight. With today’s newspaper we can all tell CEO’s and politicians what they should have done previously to be in the best possible position to deal with today’s issues. But what good is our advice if we aren’t in possession of the newspapers that will be printed in years to come.
Is the pope a Catholic? Do bears s#*t in the woods? Does a one-legged duck swim in circles? Just three of a rather long list of responses you might get from many Australians if you ask a question with a seemingly obvious answer. For example, would you like a beer?
The USD gold price has been on the tear these past 13 weeks. Gold prices in most other currencies have been running hot for quite a bit longer, and the list making new all-time highs this year keeps getting longer, but it’s the USD gold price that drives broader sentiment and it gets the headlines.
Mining is a risky business. How risky depends on many things. Sometimes I think for mining equity investors it’s a bit like betting on a game of Russian Roulette being played by the CEO. Investors of course must also remember that ‘death’ for the player is often much less painful than it is for them.