Raymond James bullshits its clients re. Bear Creek Mining (BCM.v)

In its effusive pumphouse marketing note to clients on Bear Creek Mining (BCM.v) this morning, the crew at Raymond James decided that facts just don't matter. For example, its clients read this morning the following line about the protesters at Santa Ana:

"...they’re accusing BCM of looking to pollute Lake Titicaca, which is 50km away and uphill! Would need to invest millions in pumps to be able to do this"

Sorry guys, that's bullshit and you're either deliberately lying to your clients or you've been told bullshit by Bear Creek (BCM.v). The FACTS are that Santa Ana is 45km away from Lake Titicaca (a small point) and that Lake Titicaca sits at an elevation of 3812 metres above sea level, while the low point at Santa Ana is 4150masl (a big point that blows your sarcasm and exclamation marks out the water, dumbasses). The rest of the reasoning that tried to belittle the protests against Santa Ana was just as poor too.

Just another day of South American ignorance out of so-called professional brokerages in Canada, but don't worry guys, we're used to your stupidity by now. Anyway, here's a message for you from people who do actually check facts before opening mouths. Why don't you just do us all a favour one time and....

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RayJames does silver TA

Like charts? Like silver? Like bullish calls on metals from Canadian brokerages? Well in that case you can download this PDF report dated August 26th and see what the charts magicians at Raymond James think about silver.

Me, I prefer a good novel. But that's just me. Enjoy.

Raymond James on gold

RayJames published a nice thinkpiece on gold yesterday (Feb 10th), well worth the time of those who invest in the stuff and particularly good for those that trade the gold miners.

Here's the link to pick up your PDF copy of the report. Free and easy, courtesy of your friendly neighbourhood corner of cyberspace, IKN (bows gracefully).



Update: Thanks to a quick reader who was kind enough to alert me, I've just noticed the link was wrong. It's now corrected. Thank you reader 'TI'.

Argentina: Another Canadian brokerage crashes and burns on bad political risk call

I really don't know what it is about the Canadian brokerages and their über-sad track record of calling LatAm politics. Perhaps they just assume the situation they want to see and then visualize it so much that it becomes their own form of reality. But whatever it is, they are so pisspoor on calling politics in LatAm. Ecuador, Colombia, Venezuela and all the rest, they just see what they want to see and put the cash of their clients in great danger as a result.

The latest LatAm PolRisk EpicFail comes from Alexandre Garcia of Raymond James, who early this week made a bullish call on Argentina's media company Grupo Clarin. Here's how Bloomie reported his call on October 5th:

Oct. 5 (Bloomberg) -- Grupo Clarin SA, Argentina’s biggest media company, may soar as much as 50 percent as President Cristina Fernandez de Kirchner’s bid to tighten control over local broadcasters meets congressional opposition, according to Raymond James analyst Alexandre Garcia. CONTINUES HERE

The result of the vote was last night. The law passed 44 votes to 24, the opposition to the bill fell away and no changes were made whatsoever. Here's Bloomie again:

Oct. 10 (Bloomberg) -- Argentina’s Senate approved a government-backed bill that puts new limits on television and radio ownership and will probably force Grupo Clarin SA, the country’s biggest media company, to sell off assets. CONTINUES HERE

Still think Clarín is good for a 50% pop, Alex?

Making predictions like the one Alexandre Garcia made and advising clients into stocks on the basis of "understanding what happens in Argentine politics" is the very worst sort of irresponsible. A thousand analysts have crashed and burned before this dude by trying to second-guess the murky world of Congressional politics and a thousand more will crash and burn going forward.

So therefore, Alexandre Garcia of Raymond James, you win this week's coveted award. Hopefully you'll learn from your basic, greenhorn mistake and not put the cash of your clients at risk like this again. But for the time being...