Ann: Goulamina Drilling Returns Positive Results, page-187

Came across this quote this morning from Benjamin Graham (1934) and thought it related to BGS very well;


“In the short run, the market is a voting machine, but in the long run it is a weighing machine”


His cautionary tale is that stock prices change rapidly in the short term: people follow each other, and herding behavior is a major force. In this sense, the market is a “voting” machine.

However, over a period of possibly many years, the psychology factors are subtracted out and asset prices come to reflect the value of the company in relation to economic fundamentals, so that the market becomes a “weighing” machine.





BGS may be getting the "votes" now but many who understand of the economic fundamentals (high grade, high tonnage, shallow resource, low OPEX etc etc) of  Birimian know the "weight" of the resource will ultimately shine through & be very rewarding for all holders, whether they bought 6 months ago or 6 minutes ago.