Seriously ASIC need to look at this!, page-70

  1. 214 Posts.
    Where did I clearly state I know nothing about 1PG? All I said is, it like most concept stocks, is unknowable? If you do know, can you please tell me what 1PG's earnings will be in 2 years?? Completely unknowable, whereas with other stocks that have real earnings power you can make a half decent guess (which will still be wrong but will likely be a lot closer than with a concept stock).

    I have been following it from the IPO. I bought around 0.50 (I met them in one of their first roadshows) and sold around 1.90 (when it looked like it had rolled over at $2), but I was simply trading the momentum.

    I get nothing out of debating this stock other than some debate. I think there are a lot people following 1PG because it, along with BAL and BKL, have been the darling stocks of 2015.

    I find it amusing that in the early 2000s a lot of tech stocks turned into mining stocks (RTO shells) and in the past few years a lot of mining stocks have turned into tech stocks (including 1PG I believe!!). There are some many similarities in the small cap concept mining companies and small cap concept tech companies i.e. effectively it all boils down to promotional management selling a dream, raising lots of capital and paying themselves well. At least tech should be slightly less cyclical and often do not require significant capex to develop, but most small cap mining stocks never went anywhere anyway (they were just selling a dream), but a lot of fortunes were made and lost by the management.

    I am not wedded to any view on anything, I am simply trying to gather the facts and draw an appropriate conclusion. If/when the facts change I am very willing to change my view. What do you do when the facts change?
 
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