RE:RE:RE:RE:RE:IVN is a Bet on the Global Recovery I agree with you that IVN is a great company, Chintzy. But don't believe the global economy will recover as readily as markets expect. I actually don't think they'll recover at all without ongoing permanent government intervention. Since 2008, they're no longer capable of functioning on their own through simple price discovery between buyers and sellers. Or rather the government (out of fear of a stock collapse) insists on meddling in the price discovery process. And this isn't temporary. The Fed is now the biggest player in all the markets (treasuries, mortgage, and corporate bonds).
My own belief is that this time heavy public spending won't solve record high unemployment. Which means they'll have to run ever higher deficits to fund all those expensive campaign promises, and the Fed balance sheet will continue to expand. Where will it lead? I don't know, but suspect nowhere good.
That's why I exited my position in late February, even though I love the Company. It's not because I think IVN can't improve in value. You might be right that traders will go for the infrastructure spending story. But I have less faith than markets in the ability of government to solve persistent problems, and can't ignore the backwardation in copper futures markets, together with steep declines in PGM prices.
Agree with you on gold, Chintzy. If you want to see the future, look to China. Chinese state miners (including Zijin) have been snapping up Canadian gold juniors recently at a hefty premium to market price -- in the middle of a pandemic.