GREY:MKRYF - Post by User
Comment by
Sparkletoothon Jul 16, 2014 9:57pm
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Post# 22753411
RE:WARREN BUFFET SAYS
RE:WARREN BUFFET SAYS Murray Pezim used to say retail profits on long trades on the old Vancouver Stock Exchange were just "shareholder loans". Buffett is right, Pezim was being really cynical.
Some of the insiders on Pezim's early 1980s basket of Hemlo play stocks were actually caught on the short side of the trade in their own companies when their drills kept hitting the real thing, drill after drill - serves the pr1cks right.
I used to go stand in the gallery of the old exchange on Howe Street back in the 70s and watch them change the prices on the chalk boards. It was a wild and woolly scene then. Oil stocks were in such high demand that deals like March Resources went to market caps of over a $Billion on the potential of maybe finding a 40 million barrel pool on a structure their geophysics had identified. The only recent comparable market was the tech bubble of 15 years ago.