Ann: Application for quotation of securities - MLS, page-31

I don't think there is much point in arguing about market caps.

Similar discussion happened last week and it was not going anywhere. I wrote this, and I feel it still stands.

https://hotcopper.com.au/threads/ann-excellent-lithium-intersections-from-manindi-pegmatites.6724588/page-3#post-61181172

Bottom line is, it is very difficult to quantify a market cap for stocks which are at this level. Or for that matter any stock.

Lets take an example - LKE

Today its price is $1.46 and Market Cap - $1.92 billion.

Yesterday it touched $1.245 - Market cap - around $1.64 billion

On 5th April, it hit a price of $2.65 - Market cap - around $3.5 billion

So in one month, the market cap ranged from $1.64 billion to $3.5 billion without anything significant announcement. So what's a fair value. If we can't get $2 billion difference right, where do we stand a chance to get $50 to $100 million right.

Lot of things run on potential, sentiment, expectation, market barometer etc. So, not easy to quantify. You can be on either side of argument you are, and each person can defend their position. Its not difficult. Both can win their arguments. Its up to the individual then what to do.

Currently we are in a massive downtrend. Lot of anxiety, fear, and most importantly - indecision. What to do - buy, hold or sell. Never a easy decision, and again each person doing one thing will feel they are right. Because, its only in future we will know what was right.

Now many must be getting a feeling that we should have sold when price was double this. Its the same feeling you get when the price doubles and you think you should have bought when price was half. So if it doubles from here, those who didn't buy will feel I should have bought.

One thing I have found is also very important but we don't pay much attention. Its called luck. Many times you need luck also to be on your side, besides experience which is prime. Many times, luck becomes prime reason. Some time back I had invested decent amount in 10 companies. I had equal conviction in each of them. One gave me 25 bags, another 12 bags, couple little bit and I lost on 6. But the wins were much bigger than losses. No way I could have predicted which ones will be a winner after couple of years. I attribute this gain mostly to luck - I felt I was lucky. So lets hope, that MLS is lucky for us. All the best.