Reich Is Right, Ye Is Nuts, HYMC Is Cheap October 31, 2023October 30, 2023 > Reich Is Right. Or always worth listening to, at least. “The tragedy unfolding in Gaza,” he writes, “requires clear thinking and a moral compass. I’m not observing a lot of either.” He debunks what he believes are six wrong-headed views. See whether you agree. > Does a black guy have to be crazy to support Donald Trump? Well, yes, judging from Kanye West’s remarkable story. Immensely talented and a force of nature; but . . oh, brother. > I bought HYMC yesterday at 22 cents a share . . . down from $15 three years ago, and from the $1.19 AMC paid 18 months ago (though they also got warrants to buy shares at $1,07, which sweetens the deal if the stock goes up). According to HYMC’s website, the company was sitting on well over $100 million in cash at the end of June — and a whole lot of gold and silver. They have debt about equal to their cash — but no payments due until 2027. The bet is that mining will be underway by then at a large profit. My bet is that “tax-selling” has helped drive HYMC down of late . . . that the folks selling yesterday at 22 cents are completely disgusted with this awful stock and don’t much care what price they get; they just want to lock in their loss before year-end. (If it drops a bunch more, I may buy a bunch more. That’s how crazy I am.) Meanwhile, the company will be reverse-splitting one-for-ten in a couple of weeks. Reverse splits are usually the kiss of death (or, perhaps more aptly, a “death rattle”) and that may well prove true here. Or it could be a gold mine. Only with money you can truly afford to lose. I hate Halloween, but that’s another story. Have fun.