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Sunday, September 12, 2010

Passport Capital - Reasons They Own Gold

I'm a big fan of Burbank and his firm.  Don't always agree with the thinking, but I appreciate the thought that goes into his decision making.  And what he has accomplished in 10 years is unbelieveable

http://www.gurufocus.com/news.php?id=106876
Posted by Devon Shire at 9:23 AM
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4 comments:

  1. Swizz,

    Are you a personal believer in gold? What about copper and other precious metals? What gold stocks do you personally own and/or follow? Thanks. Also, what are your thoughts on the new ATPG presentation and Al's conference?



    Cgiff

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  2. I liked what Reese had to say today. I wish they would handcuff CEO Paul to his desk so that Reese is always their presenter. I don't think the oil analysts need lectures on what oil is used for or that China's oil demand is growing.

    I'm quite comfortable with ATP after listening to the presentation today. The well is coming, the monetization is coming and the end of the moratorium is coming. The share price is going to move up. When ? I don't know, but it surely will as these things happen.

    I don't own any gold or other metals. I like oil, everyone needs it, and most places are going to continue to need more of it every day than they did the day before. Gold is not so much based on supply/demand as it is on perception of various things. Basically, what I'm trying to get to is that I don't understand how to value gold, while I think I have a good idea of what is coming for oil.

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  3. Swizz,

    Thanks, I agree on Al.....looking forward to seeing what he has to say(not that i really expect anything enlightening or different from yesterday) today on Fox news. I am a bit disappointed that now once again we are bracing for a potential delay on MC 941#3 to Oct, not because i think it means the stock is less valuable, but it again lends credence to the notion of management not setting and/or attaining reasonable targets and dates. I am liking more and more what i've seen from your Petrobank and subsidiary Petrobakken ideas......i've gone to their site, read your articles, do you have any suggestions for further DD? Are analysts or at least some as bullish as you are? Thanks!

    Cgiff

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  4. " I am liking more and more what i've seen from your Petrobank and subsidiary Petrobakken ideas......i've gone to their site, read your articles, do you have any suggestions for further DD? Are analysts or at least some as bullish as you are? Thanks!"

    The analyst reports that I have seen on Petrobank peg valuation from $55 to $75 so they are seeing the same thing we are. It is hard not to when you add up the value of the two subs and then figure they have another 640 million barrels of oil that you get for free.

    Petrobakken was up big yesterday. I saw comments about some sort of rumor about them and Crescent Point maybe doing a deal.....but I think it is nothing more than a rumour.

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