Monday, August 15, 2011

The highly acclaimed 'Dumbass-On-LatAm-Pretending-To-Know-What-He's-Talking-About-Dumbass-Financial-Professional-Dumbass' award today goes to....

...Joe Mazumdar of Haywood Securities for this little resumé of what happened to Bear Creek Mining (BCM.v) at Santa Ana in Peru.

"The former president of Peru, Alan Garcia, was very positive about resource development including mining, oil and gas. He took a stand in an area of southeastern Peru where he sought to allow development of some projects that the local indigenous people, the Aymara, were against. New President Ollanta Humala took office July 28 and has basically rescinded the original decree to mine that area."

What you say to that then, Owly?

Seriously dude, if you can't get basic facts right why the devil should we believe any of the opinionated tosh that comes out your cakehole? It was Alan García who rescinded Santa Ana's concession and blocked mining development there, not Ollanta Humala, and on the executive order is all the proof you need (i.e. Twobreakfasts' hand-written signature). So what was that about Alan 'taking a stand' again, dumbass gringo? Here's the IKN suggestion du jour for you and all other bullshit spin artists who tell versions of stories that fit their own prejudices:

UPDATE: Don't miss out on part two of this fascinating look into the world of LatAm stupid, right here.