The cynic is back. Dominic Frisby talks to veteran private investor, Dr John Wolstencroft. The good doctor describes how a junior mining company can take itself from a p/e of just 1 to a p/e of 100 in 18 easy steps.
[audio:http://media1.podbean.com/pb/c5322db63aa5f03f8bdab1d36bcdf8b1/4f51159c/blogs/2516/uploads/drjohn18stages.mp3|titles=18 Steps To Mining Self-Destruction]
The latter contained this paragraph, which I was pleased with:
But this week, just as gold made new records, the Bank Of Japan took fiscal insanity to a whole new level, slashing interest rates to 0% and then announcing a newly printed pool of ¥5trn (c. £40bn) to buy all sorts of assets – Japanese government bonds, commercial paper, asset-backed commercial paper, corporate bonds, exchange-traded funds and Japanese real estate investment trusts. I have some old junk that I was planning to sell on eBay. I’m wondering if I should just cut out the middle man and contact the Bank of Japan directly.