Thursday, August 19, 2010

Chart of the day is....

....a little flow diagram to show how the people who believe themselves undisgraceful operate in the mining community.

Oh, by the way, I think you should avoid this Otto chappie that Mexico Mike Kachanovsky talks about in this missive dated yesterday...seems like a rum chap to me. CHEERS!


Joined: 08 Apr 2004
Posts: 7566
Location: Milton, Ontario
New postPosted: Wed Aug 18, 2010 11:17 pm Post subject:
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I have an obvious personal stake in this discussion since I am in the midst of a very public pissing contest with this Otto. I have no intention of reading his blog and I am not overly impressed with the calibre of his commentary. There are many scams and scumbags active in the markets, and I do not take issue with the concept that this kind of thing should be exposed. I am quick to rant about people I consider scumbags in the political arena. Fair enough.

Where I draw the line is that Otto seems to have a perverse and vulgar hostility to transactions that are NOT sleazy or unusual, and a very narrow view on whom the bad guys are. He may point out some fact about one company and imply they are unique and disreputable, when in fact the vast majority of companies follow the same practice. One example that comes to mind is the issuance of insider stock options. I do not know of too many juniors that do not have the full available suite of stock options granted. Yet he will indict one company for this as if they are somehow a scam.

Lets also recall that Otto does not allow other opinions or corrections to his rants. He is frequently wrong the information he presents, and I did not see any retractions of this. It is not a shame to be wrong about anything, but to ignore the facts when you have been corrected is a sign that maybe he is not as objective or knowlegdeable as some may give him credit.

I think the guy is a vulgar and obnoxious idiot. I do not retract my statement about him being a disgrace to the mining community. Some have interpreted that to mean the analyst community. Wrong. The mining community is all mining companies, analysts, and investors. It is perfectly reasonable to embark on an ethical and thorough housecleaning to expose some of the crooked behaviour among some participants. When you cross the line to slander and insult other honorable people, what have you accomplished? For one that seems to denounce others so frequently on the concept of bias, I think this Otto is extremely biased, and this has led to some very irrational commentary that is unacceptable. The man is a disgrace.