Too true nihilism. I don't think we get the same opportunity in Oz to find the next big thing, due to scale and inventiveness. Perhaps that is just my myopic viewpoint because I only look at explorers. And biotech is probably an exception.
But take SIR for example, they had a geochem anomaly of mild interest and waited while the WA Mines Dept gave them some funding to help pay to drill it. No one can pick these things before they happen.
IMO, the trick in our game is to be early to see how things may come together once some substance is established. So at that point the stock will have already run a bit. Then do a risk assessment on loss vs reward. Don't bet the farm on it but play those where the odds appear to be in your favour and be content if you have to take a loss.
