ER6n's forum, page-19

gassin123, Thanks for posting that

I wasn't aware of "Seeking Alpha" - nor this report - before now.  I guess Seeking Alpha is an American mob.  Still, their analysis seems of AGO seems to mirror my view.... they value AGO at $1 today, I'm at $0.93.  

http://seekingalpha.com/article/232...omies-of-scale-compensate-for-the-lower-grade

Some years back, I did a Master of Applied Finance degree with a concentration in securities analysis.  Some things I was taught were bogus - like the "Efficient Market Hypothesis" and other things were valid - like Discounted Cash Flow Valuation methods.

There are a lot of academic studies which show technical analysis is not reliable (as past price action and volume is already baked into a SP).  But, I have a growing appreciation of Behavioural Finance (as per the work of Dr Robert Shiller) and the Momentum Effect.  Still, I can't trade on charts, only on valuations.  It's a confidence thing (and I am patient, let the market come to me).

By the way, MACD is a cheap restaurant, isn't it?

Some of the best work I've read (but not always easy to understand) is by Benjamin Graham, who said, "In the short run, the market is a voting machine.  In the long run, it is a weighing machine."  And of course, I'm a Buffettier.  As The Oracle says, "If you wouldn't own the whole company for 10 years, don't own a part of it for 10 seconds."

Anyway, enough self-aggrandising and quoting the greats.  I've lost enough money over the last 15 years to know published information (/management) can not always be trusted.