Friday, June 6, 2008

Joe Gutnick: a first follow up OR Why pay stock shills when you can have News Corp for free

Joe Gutnick plans to list his Legend Mining in Australia. And THE AUSTRALIAN (News Corps orignal flagship newspaper) has taken his numbers at face as shown in this linked article.

Which leads to an interesting question: why bother paying stock shills USD2500 when the News Corp will take your adverts without payment?

The article of course makes it plain:

The company sees a local listing as logical, considering the operations will be based in Queensland.

But this would involve trading existing shares -- there are no plans for any immediate capital raising here.

So Joe is going to sell existing shares in Legend to the Aussies. The $2500 stock shilling in my last post is the pump. The sale to Australian fund managers is - well a way of getting some cash into existing shareholder pockets. Maybe its a good deal for all. After all Joe has struck gold and diamonds before. Still paid stock shills do not in general outperform.

Now Bronte Capital has always had the best interest of Australian Investors at heart. So - seeing this as we do - we have have purchased the Google search terms "Joseph Gutnick", "Joe Gutnick" to link to this blog.

My adverts will cost a lot less than $2500.

1 comment:

John Hempton said...

A quick follow up:

Google search terms that nobody has ever used are cheap - 10c a click for top billing.

The problem - if nobody has ever used them they take days to get approved. There must be a manual process involved.

Joe Gutnick is now approved - and turns up as a serch term.

I am surprised Google has not automated this.


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The content contained in this blog represents the opinions of Mr. Hempton. Mr. Hempton may hold either long or short positions in securities of various companies discussed in the blog based upon Mr. Hempton's recommendations. The commentary in this blog in no way constitutes a solicitation of business or investment advice. In fact, it should not be relied upon in making investment decisions, ever. It is intended solely for the entertainment of the reader, and the author.  In particular this blog is not directed for investment purposes at US Persons.