The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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70 years on?
For most governments around the world, economic growth is the primary objective. Policies
are geared towards growth, and governments are often judged on their ability to deliver
ever-rising economic output, spending, jobs and pay.
But it is becoming increasingly obvious that continued economic growth is ecologically
unsustainable. As we grow the economy, we grow our usage of energy and of a range of
natural resources, many of which are becoming increasingly scarce. We also produce more
pollution, including carbon emissions, than the environment and atmosphere can process
and absorb.
It may sound a modest goal to aim to grow the economy by 2% this year – after all, most
people would consider it reasonable to request a 2% pay rise.
But the maths of exponential growth means that an economy that grows at 2% each year will be twice as big in 35 years,four times as big in 70 years, and seven times as big within a century. If our resource use and pollution today are already causing fish and bee populations to collapse, rivers and aquifers
to dry up and weather patterns to change – with alarming implications for food production –
then what should we expect when the global economy is two or four times larger?
Pushing back against proposals linked to simply growing the size of the company and encouraging executives to hold more shares personally. “There’s often not much downside risk in these plans; our fund managers want to see more skin in the game,” she said.
“The word that’s key for investors in the debate on executive pay is alignment,” said Richard Bernstein, head of activist investor Crystal Amber. “The more that a CEO’s bonuses are aligned to increasing the share price the better. I’ve seen cases where bosses are handed a cash lump sum bonus just for doing their job – that’s not on and understandably creates division with employees.”
Bernstein said the solution is to increase the proportion of executives’ pay in shares, and potentially hand employees stock, too. “Ultimately some bosses are in it for the challenge and others for the money,”
https://tinyurl.com/u76vrpxe
The mistaken US opinion poles.....The US Economy is in good shape? But unhappiness about the economy is widespread.
Two-thirds of respondents (68%) reported it’s difficult to be happy about positive economic news when they feel financially squeezed each month (Republicans: 69%, Democrats: 68%).
Two-thirds of Americans (65%) believe that the economy is worse than the media makes it out to be rather than better (35%).
In August the unemployment rate was 3.8%, close to a 50-year low. But the poll found that 51% wrongly believe that unemployment is nearing a 50-year high rather than those who believe it’s actually low (49%).
Biden supporters have just launched a $13m advertising campaign extolling the president’s economic achievements, which include a landmark $1.2tn infrastructure and climate bill, massive investment in domestic microchips production and green energy solutions. His legislative actions are predicted to create 1.5m jobs per year for the next decade.
and who pays for Biden economics, but then again, we wont have to worry, as Trump looks good, even from a jail cell LOL
Have a good weekend, and put some money on Austraia in the cricket
the gnome
Steve with Mr Tibbles one or two messages a day is not sufficent ,like Gino said ,he considers himself controler of this site.
Over 14 000 messages , perhaps going for a record, most of which are repetitions.
Its more than an obsession .
Take a break Tibbles and find a hobby.
It gets very boring.
Sleep well.
The present already very generous Centamin BOD remuneration packages criteria are far too heavily biased on the right to an automatic award of free shares just for doing the job of a fashion and even more shares if the remuneration committee decides based on pretty low hurdles that additional bonus shares should be awarded, it is more like the share awards are just custom and practice rather than directly linked to the share price!
Still waiting to see the directors step up to the plate and put something substantial on it rather than just feeding off it!
When deciding whether to invest in a company there are several things investors look for, but one that should be high up on the list is whether or not directors have “skin in the game”.
https://stockhead.com.au/resources/why-investors-should-back-directors-with-skin-in-the-game/
Berkshire’s Directors Have Skin in the Game
https://rationalwalk.com/berkshires-directors-have-skin-in-the-game/
Oh god, more doom- how on enough can you pay attention to a prophecy 50 years ago? They are literally millions and millions of prophecies over the centuries and I could make one up in a second... and if it becomes right, will I be seen as a genius lol.
You could, of course, quote all the millions and millions of prophecies that were wrong lol.
I predict in 60 years there will millions more prophecies covering every possible permutation and by the rule of average, at least 1 or more will be right.
Now quote me on this in 70 years....
But it's still so cheap, that is according to Martin and he should know.
Or does he know something we don't which is why he is'nt buying?
Are shareholders being led up the garden path again?
Remember Henderson said there will be some announcement of bad news this quarter?
Come on Henderson spill the beans!
“They have managed to bury the facts under a fantasy of never-ending growth”.
https://www.canberratimes.com.au/story/7577199/its-the-end-of-politics-as-we-know-it/?cs=14246
Does GDP ever become uneconomic?”
https://rb.gy/zzbetg
Fifty years ago this month, the System Dynamics group at the Massachusetts Institute of Technology in Cambridge had a stark message for the world: continued economic and population growth would deplete Earth’s resources and lead to global economic collapse by 2070. This finding was from their 200-page book The Limits to Growth, one of the first modelling studies to forecast the environmental and social impacts of industrialization. https://rb.gy/iokkql
Stock markets in Europe were below the flatline during the premarket hours on Friday in anticipation of key economic data releases in Britain before the opening bell.
Investors will receive the latest updates on the United Kingdom's gross domestic product, industrial production, and trade balance. Meanwhile, Allianz SE posted its third-quarter financial results, with its net income plunging by 29% to €2.1 billion.
At 7:34 am CET, London's FTSE dipped 0.60%. The Euro Stoxx 50 fell 0.66%. Frankfurt's DAX tumbled 0.64%. The CAC 40 dropped 0.59%. The euro was flat against the US dollar, trading at 1.06687 a minute later. The pound sterling rose 0.09% versus the greenbank, changing hands to 1.22285.
Baha Breaking News (BBN) / AB
Happy Friday y’al
Enjoy your weekend.
More Pomie humour!
Peter Kay & Sian Gibson just can't contain themselves as Reece Shearsmith/'Stinky Ray' sings along to Ini Kamoze's !
The last thing a very hungover (still drunk) Kayleigh needs is Stinky Ray getting in the car for a lift to work.
https://www.youtube.com/watch?v=U0optP8HoWo
https://www.youtube.com/watch?v=YCDnyN1CKKI
Peter Kay's Car Share: management speak cliches. (Hilarious, English lesson)
https://www.youtube.com/watch?v=k0qDKGcHU5o
Peter Kay and Sian Gibson star as assistant manager John Redmond and promotions rep Kayleigh Kitson in this comedy series. Working together at an out-of-town supermarket, they are given a company car, but it comes with one condition: They have to share rides together. Without a choice in the matter, the pair are forced to get to know each other during their daily commute. Will they get along from one day to the next? The drama unfolds as John and Kayleigh deal with quirks like lateness and forgetfulness.
Something else to make you laugh!
Tommy Cooper-Hats
https://www.youtube.com/watch?v=cnotRo2qOtU
Tommy Cooper We'll meet again 1981
https://www.youtube.com/watch?v=rGKPI8ygsDw
Tommy Cooper on Michael Parkinson show very funny
https://www.youtube.com/watch?v=gDqi1q3akZA
Thanks Mr Gnome.
Eric Idle - "Always Look On The Bright Side Of Life"
https://www.youtube.com/watch?v=SJUhlRoBL8M
Now down to 46 neutral area. It was in the high 50's a few days ago. 5 Hourly on 26 an oversold. Slow stochastics on zero for both. As for Centamin it has been contained in the falling wedge. At some point the wedge converges and I will provide a calculated date over the weekend.
Major stock indexes in Europe traded mixed in the premarket on Thursday as investors digested another batch of financial results. While Deutsche Telekom and ArcelorMittal already posted their quarterly earnings, AstraZeneca will be doing so soon.
The DAX and the CAC 40 both stood flat at 7:49 am CET, while the Euro Stoxx 50 gained 0.13% and the FTSE 100 declined 0.19% at the same time.
The euro and the pound were both flat against the dollar at 7:51 am CET, selling for 1.07080 and 1.22893 respectively.
Baha Breaking News (BBN) / AY
There you go Somnamma
https://www.cruxinvestor.com/posts/centamin-plc-q4-2022-investor-presentation-summary
H Siko,
It is never wrong to question anything , although it seems that some are afraid to do so and would prefer instead to look at Centamin through rose tinted glasses.
Thank you for the information , which Centamin could have quite easily referred to when the question was raised through the investor Meet presentation, although for whatever reason they chose not to.
Thank you also for the clarification and explanation regarding the gold bars which in the absence of any comments or answers from other board members they were also ignorant of!
It fa safer not to post anything positive about Centamin until everything is absolutely certain in order not to be not be criticised should things not work out forecast!
Tibbs
Thanks for the input Siko, as always a breath of fresh air.
A good summary, thanks for sharing Tibbs. Please kindly post the link to the original source.
Centamin appears to be turning a corner under refreshed leadership and is delivering on its operational targets.
With Sukari as a platform for growth and a stronger balance sheet, the company looks positioned to start driving value creation for shareholders through production expansion, resource additions, and disciplined capital allocation.
Deeds, not words
Whilst a healthy start and a confident presentation, I should emphasise that investors should remain cautious until Sentiment management demonstrates sustained operational stability over a longer period of time. Here's a more balanced take:
While the recent update provides grounds for optimism, investors would be prudent to maintain a healthy scepticism until Centamin shows it can deliver consistent operational performance over an extended timeframe. The company has faced struggles with meeting production targets and managing costs in the past. Though the new management team led by CEO Martin Horgan seems to have made progress in addressing these issues, one year of hitting guidance does not definitively prove they have resolved the underlying problems. There is still execution risk in consistently hitting forecasts.
Additionally, guidance was met but at the lower end of the projected output range in 2022, and required what management called "prudent" cost assumptions. Investors should watch for Sentiment to demonstrate it can beat guidance over a series of quarters, rather than just meet baseline expectations. There are also risks around Centamin's major growth projects like the Sukari underground expansion that could face unexpected challenges during implementation. Until these capital programs are executed successfully, they represent potential downside risks if behind schedule or over budget.
While the healthier balance sheet and strong free cash flows from the Sukari mine provide some stability, Centamin lacks the margin for error of some industry majors. To truly change perceptions, consistently meeting or exceeding operational targets in 2023 and beyond will be critical.
While the future looks brighter for Centamin, investors may want to take a "trust but verify" approach, looking for an extended track record of outperformance and flawless execution before viewing the operational turnaround as fully secured. There is still work ahead for management to translate potential into consistent value creation.
January 31, 2023
Matthew Gordon
Why Centamin management should have more skin in the game-
Rick Rule is a highly experienced investor and speculator, focused on sub $1,000,000,000 market capitalization public and private issuers in natural resource industries.
Rick has structured, led and participated in hundreds of privately placed debt and equity issuances for resource companies operating internationally, and domiciled in Australia, Canada, Chile, Great Britain, New Zealand, Sweden, Switzerland and the United States.
Rick is a sought-after investment conference speaker as well, having presented at hundreds of resource and investment conferences over the last thirty years.
https://www.youtube.com/watch?v=tHTkdWbiaQQ
Mr Bond whilst your on the subject of parrots thought you might enjoy this ti help you chill!
The world famous Dead Parrot sketch, here, in it's entirety!
https://www.youtube.com/watch?v=4vuW6tQ0218
Your assumption on my position appears as misconstrued as it is regarding most other things.
Thank you one again for your fresh air.
Its always good to clear the air.
I will ignore all the nonsense on the BB and post a couple of comments to explain a few things.. I will not be directing my words at anyone..
I read some posts about profit share and renewing Centamin's tax exemption..
The answers to all these questions are in law 222 year 1994.
No one could tell you anything more or different. I highly recommend to any Centamin investor reading the full agreement. You will find the full file here
https://manshurat.org/node/32087
Download it and read it.. It's in both English and Arabic..look at page 27 for taxes and 51 for profit share..
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As to the e-auction for 66 bars of gold next week, these are various bars that came from government agencies, such as the Customs Authority or the Public Prosecution, and the revenues will be transferred to the state treasury.. it has nothing to do with the national reserve, and it could not be added to the national reserve.. it will be sold for the local companies and traders, so revenue will be in local currency.. obviously this info is irrelevant to Centamin, but I thought to explain it properly as it was mentioned here..
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I read some comments here about Sisi asking Egyptians to be good Muslims and eat leaves like the prophet's followers, which is not true... this storey was in May 2022 by the way, I don't know why it's getting mentioned now and here.. I could explain it and translate it properly, but as a Muslim myself, I would very much appreciate it if we don't go into any religious discussions, especially if you don't know the full details, and you don't need to..
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One last comment.. Egypt is suffering financially.. the situation is bad.. the people are poor and suffer.. they have been suffering over the years as Egypt is a third world country.. you don't know what it's like to live in such a country.. but it does not mean it will go bankrupt or default.. the Egyptian pound has been losing value for decades.. we are used to it.. Egypt is working with the IMF, and only last week it increased the price of petrol as per the agreement with the IMF to reduce subsidiary..
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I'm not a holder.. I'm not posting positive cheerful stuff.. I'm just explaining things from an Egyptian point of view..