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Andrew Tobias

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Andrew Tobias
Andrew Tobias

Money and Other Subjects

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.

 

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