Papa Johns Apologizes for Criticizing NFL Anthem Protests

San Francisco 49ers safety Eric Reid (35) and wide receiver Marquise Goodwin (11) kneel during the performance of the national anthem before an NFL football game against the New York Giants in Santa Clara, Calif., Sunday, Nov. 12, 2017. (AP Photo/Marcio Jose Sanchez)Papa John’s Pizza apologized Tuesday night for comments made by CEO John Schnatter blaming sluggish pizza sales on NFL players kneeling during the national anthem.The Louisville, Kentucky-based company is a major NFL sponsor and advertiser, and Schnatter said on an earnings call on Nov. 1 that “NFL leadership has hurt Papa John’s shareholders” and that the protests “should have been nipped in the bud a year and a half ago.”The company tweeted a statement offering to “work with the players and league to find a positive way forward.”“The statements made on our earnings call were describing the factors that impact our business and we sincerely apologize to anyone that thought they were divisive,” it said. “That definitely was not our intention.“We believe in the right to protest inequality and support the players’ movement to create a new platform for change. We also believe, as Americans, we should honor our anthem. There is a way to do both.”The movement was started last year by former San Francisco 49ers quarterback Colin Kaepernick, who kneeled to protest what he said was police mistreatment of blacks. More players began kneeling after President Donald Trump said at an Alabama rally in September that team owners should get rid of players who protest during the anthem.Papa John’s added that it is “open to ideas from all. Except neo-Nazis.” It previously has tried to distance itself from white supremacists who praised Schnatter’s comments, saying it does not want those groups to buy its pizza.The company’s stock has fallen by nearly 13 percent since Schnatter’s comments. read more


Dwight Howard Has Transformed The Hawks

Because Schröder’s passes have generally left him with nothing to do but lay the ball in, particularly against lesser opponents such as the Sixers, Howard’s average time of possession per touch is down nearly 16 percent from last season and has decreased more than 27 percent from two seasons ago. Additionally, his dribbles per touch are down 10 percent and 27 percent, respectively, from last year and two years ago, according to SportVU.Can it last?Yet for all that, it’s fair to wonder how much of Atlanta’s hot start is sustainable.Schröder, in his first year as a starter, probably won’t finish this season with a higher three-point mark (42.9 percent so far) than his overall field-goal percentage last year (42.1 percent). Howard left Tuesday night’s win with a thigh bruise, and the injury will be a problem if it persists. The team is already thin in spots, including at center, since backup big man Tiago Splitter is still recovering from a February hip surgery. And there’s also the matter of the team’s soft schedule (fifth-easiest in the NBA) to this point: The Hawks are the only team to have beaten the defending-champion Cleveland Cavaliers, but as of Wednesday afternoon, five of their eight wins had come against Philadelphia, Washington and Miami, the Eastern Conference’s three worst teams.Still, Atlanta — outscoring opponents by more than 10 points per 100 possessions — has generally dominated its competition. The Hawks are limiting opposing offenses to just over 95 points per 100 plays, second-best in the NBA, trailing only the Clippers.The defense, which has been active and has deflected more passes than any Eastern Conference team, appears to be staying home a bit more often than in years past, to allow Howard to serve as a rim protector as opposed to chasing guards all over the court. That has paid dividends: They’re limiting opponents to 52.8 percent shooting from inside five feet, outpacing last year’s impressive 55.5 percent mark.Even with all this in mind, and Howard playing well, the same question as before still faces this team: Does the team — however good it might be — realistically have enough scoring, or enough stoppers, to get the best of LeBron James and the Cavaliers?Probably not. But by changing their look, and playing more inside-out than they have in years past, there might be a little more intrigue this time around, even if the end result turns out to be the same.Check out our latest NBA predictions. 20141.840.62 20151.590.50 Dwight Howard is making faster decisions For years, the Atlanta Hawks have had two guiding philosophies. Under coach Mike Budenholzer, the club has prioritized moving the ball in an uptempo offense, fashioning every player into a jump-shooting threat. On defense, Atlanta thrived thanks to the unusual frontcourt mobility of Paul Millsap and Al Horford. While neither was a traditional rim protector, the team used an array of hedges and switches to slow down pick-and-rolls and limit drives to the basket.With that in mind, things were bound to get interesting one way or another this season. Horford bolted for the Celtics over the summer, taking with him the unique passing and mobility he provides at the center position. He was replaced by Dwight Howard, who is a totally different player from a stylistic standpoint even if he’s a surefire Hall of Famer. The Hawks, who for years lived on ball movement and swiftness, seem to be replacing those virtues with brute strength.The swap — along with promoting point guard Dennis Schröder to a starting role after dealing away former All-Star Jeff Teague — has brought about some encouraging signs for the 8-2 Hawks, who probably needed a bit of a shake-up despite their relative success in recent years. Howard’s replacing Horford doesn’t necessarily make the Hawks more of a contender, but the move at least allows them to try a different look, both offensively and defensively, in hopes of finding a way forward.Howard on the boardsThe clearest difference from last season is the team’s overnight transformation into an offensive-rebounding powerhouse.The Hawks from previous years — much like the Spurs model that Budenholzer borrowed from his time as an assistant in San Antonio — didn’t concern themselves with offensive rebounding, instead preferring to space the court and simply retreat back on defense following a miss.As such, Atlanta ranked dead last in offensive-rebound rate in 2015. This year’s team, by contrast, is tied for the NBA’s fourth-best offensive-rebounding rate. The Hawks, who had ranked in the NBA’s bottom five in second-chance points in each of the previous three seasons, are currently ninth in second-chance points per game. Howard has everything to do with that. His personal numbers look good — he’s averaging 14.8 points, 12.3 rebounds and 1.7 blocks per game, with eight double-doubles in 10 games — but his effect on Atlanta’s overall numbers appear to be even better. The club’s 31.1 percent offensive-rebound percentage with him on the court this season would be tied for the highest in the league, alongside the Chicago Bulls. The team’s offensive-rebound rate falls to a below-league average rate of 22.2 percent when Howard is on the sideline.Between those easy putbacks, and Howard’s pick-and-roll feeds from Schröder, Atlanta is shooting nearly 67 percent at the rim — up from just over 60 percent last year — second only to the Golden State Warriors so far. (Note the proximity that NBA.com uses for its at-the-rim stats differs slightly from the one the site uses in its shot charts, embedded below, but the trend holds true in both.) Howard, taking more than 80 percent of his shots from there (and also connecting on about 67 percent of those attempts), is fundamentally changing the way the team’s shot chart looks in the process.Howard on the blockBefore Tuesday’s quad injury, Howard was enjoying a bit of a renaissance after three frustrating seasons in Houston, where he felt underutilized and in the shadow of James Harden. Aside from cleaning the glass for easy putbacks, he was jelling with Schröder in pick-and-roll scenarios, regularly catching lobs from his new point guard, who appears to be making a concerted effort to keep him involved. And defenses, as much as they’d like to flood the paint to prevent Howard from getting easy baskets, have been reluctant to help too much in that part of the floor. Usual suspects such as sharpshooter Kyle Korver, along with Kent Bazemore and Millsap, are all threats to connect from outside if left open as a result of overhelping.With the Rockets, Howard’s offensive involvement wavered from time to time. Consider the fact that Howard received 6.7 passes per game from Harden during his first year there, before getting just 2.2 passes from him in 2014 and 4.5 passes from the Rockets star in 2015. Schröder, in Atlanta’s equal-opportunity system, is finding Howard more than eight times a night, according to SportVU tracking.Perhaps because of those frequent opportunities — and the fact that he’s no longer wondering if or when he’ll touch the ball, the way he sometimes did in Houston — Howard’s possessing the rock for shorter amounts of time as opposed to slowing his team’s offense to back down an opponent and force up an ugly hook shot, merely to create a scoring chance for himself. YEARSECONDS PER TOUCHDRIBBLES PER TOUCH 20131.820.70 Source: nba.com 20161.390.45 read more


Buckeyes fall at the hands of Sparty 107

Ohio State football’s defeat to Michigan State on Saturday was more than a setback in the Big Ten standings. It was nearly a loss of historic proportions. A 33-yard touchdown pass from senior quarterback Kirk Cousins to senior receiver B.J. Cunningham midway through the first quarter put the Spartans up early, 7-0. A field goal in the fourth quarter by Dan Conroy proved to be enough for the Spartans who went on to win, 10-7. With 10 seconds to go in the game, red shirt senior quarterback Joe Bauserman found Evan Spencer for a 33-yard touchdown pass to cut the lead to 10-7. But it was too little, too late for the Buckeyes. OSU was only able to accumulate 178 yards of total offense in the game against MSU’s 324 yards. The Buckeyes were only 10 seconds from being shutout for the first time since a 1993 blanking at the hands of Michigan. It would have been the first shutout at Ohio Stadium since October 1982, against Wisconsin. The Buckeyes started the game slowly with freshman quarterback Braxton Miller leading the offense, which accumuled only 42 yards of total offense in the first quarter. In the mean time, Cousins found Cunningham in the back of OSU’s end zone to open the scoring. Cousins rolled out to the right of his pocket and found the streaking Cunningham, who made the catch despite double coverage from OSU. In the second quarter, Miller completed a 33-yard pass on third-and-13 to push OSU into Spartans’ territory for the first time. The drive ended with 7:39 remaining in the first half after Miller’s next pass was thrown into double coverage and intercepted by MSU sophomore corner Darqueze Dennard. By the end of the first half, the Buckeyes’ offense had been out-gained by the Spartans, 170-87. OSU’s defense stopped MSU scoring threats twice in the second quarter, however. A fumble recovery by sophomore defensive tackle Johnathan Hankins with under one minute remaining preserved the 7-0 deficit. The Buckeyes attempted to salvage a score from the remaining 50 seconds of the half, but Miller took a sack and the clock then ran out. Michigan State jumped and celebrated as it headed for its locker room with the lead still intact — the Buckeyes exited the field to a chorus of boos. After the intermission, OSU’s defense held the Spartans again. MSU drove 52 yards from its own 14-yard line to set up a long field goal attempt. Conroy pushed his 51-yard try wide right of the uprights and OSU’s deficit remained at 7-0. OSU’s offense continued to sputter — Miller led the team to only 16 total yards of offense in the third quarter as redshirt senior quarterback Joe Bauserman began to throw a ball behind the Buckeyes’ bench. MSU moved into scoring position again late in the quarter when Cousins completed a 52-yard pass to Cunningham. The Spartans eventually moved to the Buckeyes’ 5-yard line, but Cousins’ pass on third-and-goal was intercepted in the end zone by sophomore safety C.J. Barnett. Then Bauserman went under center for the Buckeyes, though he didn’t fare much better, going 0 of 1 passing on his first drive before being sacked on third down. The Buckeyes’ never found their footing with either Bauserman or Miller leading the offense. Conroy’s 50-yard field with 10:35 remaining put the Spartans up 10-0 and proved to be the game-winning score. OSU (3-2) will continue conference play next Saturday when it makes its first-ever trip to Nebraska. read more


Cleveland Cavaliers to play game at Ohio State for third straight year

Cleveland Cavaliers forward LeBron James is seen before tipoff of overtime of a game between the Cavs and the San Antonio Spurs. The Cavs beat the Spurs, 128-125, in overtime.Credit: Courtesy of TNSOhio State might be home to the defending college football national champions, but for a night in October, it will host the defending NBA Eastern Conference champions, as well.For the third consecutive year, the Schottenstein Center is set to be the sight of a Cleveland Cavaliers preseason game as the Cavs will meet the Memphis Grizzlies on Oct. 12.The game is set to be the third of seven Cavs preseason games, with their opener on another Ohio college campus: Xavier University in Cincinnati.Last season, the Cavs hosted the Chicago Bulls at the Schottenstein Center in front of a sold-out crowd of 19,049. The Cavs won that contest 107-98, with point guard Kyrie Irving and small forward LeBron James combining for 46 points and 13 assists.The year before, the Cavs entertained the crowd with a 104-93 victory over the Philadelphia 76ers.The Cleveland Browns also expanded their preseason to Columbus this year, bringing their Orange & Brown Scrimmage to Ohio Stadium on Aug. 7. That event drew just under 50,000 fans.Last season, James returned to the Cavs after four years with the Miami Heat, leading them to a 53-29 record and second-ever trip to the NBA Finals, where they eventually fell to the Golden State Warriors in six games.James, an Akron, Ohio, native and avid supporter of OSU athletics, was given a permanent locker in the home locker room at the Schottenstein Center in 2013.Tickets to the Oct. 12 preseason matchup between the Cavs and Grizzlies go on sale at 10 a.m. on Sept. 10 and begin at $15. Tip-off is scheduled for 7 p.m. Correction Aug. 26: An earlier version of the story stated the 2013 game against the 76ers was the Cavs’ Columbus debut, when in fact they had played at the Schottenstein Center prior to that. read more


SSKM performs rare surgery gives new life to 33yearold

first_imgKolkata: In a rare surgery, SSKM Hospital has given a fresh lease of life to a 33-year-old man from Burdwan by removing a malignant chest wall tumour with intra-thoracic extension, weighing around 7 kgs.The tumour was encompassing his lungs, nerve bundle innervating the hand, Subclavain vessels (vein & artery) and other vital organs.According to the doctors in India, there was no such case reported earlier. There was a high possibility of patient dying on the operation table as the malignant tumor, situated on the chest wall had been encompassing the lungs, exerting pressure and preventing its expansion, thereby limiting entry of air and oxygen. Also Read – Heavy rain hits traffic, flightsThe patient, Sk Abdullah was suffering from Neurofibromatosis type 2 with intra thoracic and extra thoracic extension, encasing the Subclavian vessels and the nerves around the hand (Brachial Plexus) when the tumor had a rapid growth in last one year.According to the doctors, it was rare case Neurofibromatosis which underwent sarcomatous change (rapid malignant change characterized by invasion and infiltration of the surrounding structures). Only nine such sarcomatious change in neurofibroma with both intra-thoracic and extra-thoracic extension have been reported across the globe. Also Read – Speeding Jaguar crashes into Merc, 2 B’deshi bystanders killedDr Sandeep Kumar Kar, Assistant Professor, Cardiac Anaesthesiology, IPGME&R, who was a part of the team said incidents of type 2 Neurofibromatosis, which is a generalised form of Neurofibromatosis termed as Von Recklinghausen’s Disease, has an incidence rate of one in 4,000.The team of doctors comprised of Dr Santanu Dutta, Prof Anupam Goswami, Dr Sandeep Kumar Kar and Dr Riya Sonam. There was a high risk during the operation as it could affect the lungs, brachial plexus, subclavian vessels and other organs. The doctors had difficulties during the operation due to the size of the tumor on the chest wall.The patient had also been facing difficulties in his air passage. A resident of Pangacha village of Raina in East Burdwan, Abdullah was initially taken to Burdwan Medical College and Hospital where the doctors expressed their inability to perform the surgery.The patient was also taken to the Cardiothoracic vascular surgery (CTVS) outdoor a month ago.After going through all necessary tests, the surgery was conducted and the malignant tumor was removed from his body successfully. Four units of whole blood and 3 units of ringer lactate and one unit of plasma expander was infused to compensate the fluid loss in this extensive surgery.last_img read more


The safe haven is gold

first_img The safe haven is gold. Louis James, Chief Metals and Mining Investment Strategist (Casey International Speculator): On days like last Wednesday, when gold was falling hard and fast, I feel such strong, mixed emotions. Gold stocks plummeted, and I couldn’t wait to wrap up my work fast enough to start buying. I’ve learned from Doug how to make volatility my friend. As I’ve been writing for years, when an asset goes on sale due to market psychology or other factors having nothing to do with the asset’s actual value – especially when nothing changes in the fundamentals – it’s a buying opportunity. I’m excited by the opportunity. But I’m also concerned, because I know many investors are panicking, realizing losses they don’t have to. Putting my money where my mouth is, I went down to my local coin shop Wednesday, buying among other things a one-ounce Canadian Maple Leaf that caught my eye. Am I worried that gold might drop further? No. I didn’t buy this Maple Leaf because I expect the price of gold to rise, but because it’s gold. No matter what happens in the financial world or the world at large, my Maple Leaf will always be one ounce of pure gold, a value I’ll be able to carry and use anywhere in the world. As Doug taught me, I buy gold for prudence, not speculation. And the weight of my new coin in my pocket was a happy comfort all the way home. But the gold stocks are another matter. Even though +$1,500/oz. is a very good price for gold miners with quality operations, market sentiment is so bearish that a retreat to $1,500 could cause a panic among gold investors that would trash the share prices of good companies along with the bad. We could be very close to what none of us have seen in this cycle so far: true market capitulation. That is to say, regardless of the fundamentals, investors could just give up on precious-metals stocks. And without bids, prices plummet. We should be so lucky! Our technical-analyst friends tell us that the likely bottom to the current correction should come around $1,545. Some technical analysts are even saying that this gold bull market has topped – I mean absolutely topped, and it’s going to be a long bumpy ride downhill from here. I see no reason to believe the latter and no inescapable logic for accepting the former, but it’s clear that there’s blood in the water and the sharks are circling. Such expectations could even become self-fulfilling prophecies. With many gold-stock investors already close to panic, if gold breaks below one of these TA support levels, things could get really ugly… or beautiful, depending on your perspective. All of this is very clear to me, as is what to do about it. The first thing to do is to cancel all my stink bids. If gold stocks are going to crash, I’m going to wait until they have clearly done so – when people are cursing me for being a fool or a knave and true market capitulation is obvious. Then I’ll step in to see how low I can place my bids and get filled. The potential for profit may exceed 2008 levels and possibly even blow away 2001 levels – that’s what a real panic can do for a savvy buyer. Of course, gold may not go down to $1,545, and any of the factors Jeff, Doug, and I have discussed many times could send it sharply northward again tomorrow – or today. If Doug is right about the economy coming apart this year, it won’t be too long before journalists are trying to outguess each other about how high gold will go by the end of the year, rather than the opposite we see today. This is why am not selling anything – not unless I think the company no longer has what it takes to weather the storm. If unfolding events on the global economic stage drive investors back to gold, they’ll do so with gusto, and it’ll be off to the races. I do not want to be short. I wish I had the eloquence of Shakespeare’s King Henry V, so I could make a Crispin’s Day speech that would give everyone the courage and discipline to fight through to victory. If you have this courage and are able to act if stocks in great companies go on sale at stupid prices, you will make yourself a lot of money. Kevin Brekke, Managing Editor, World Money Analyst: The duration and altitude of the current bull run in gold has been impressive. Over a decade of annual gains is enough to swell the fortunes and add a bit of swagger to one’s gait. A raging market produces more geniuses than any university. But it will also lull investors who lack conviction in the underlying fundamentals into complacency. The vicious ’08 gold sell-off was easily excused away: global financial crisis, banking system on verge of collapse, selling gold to meet margin calls… the memory is painful and vivid. But the relatively quick return to former highs in ’09 was just the balm needed to heal old wounds and not leave a scar. The subsequent horns-lowered charge from 2009 to 2011 was a gold crowd-pleaser, persuading many that they were ready for grad school. The swagger was back. The last six months have dealt a harsh blow to gold and silver and sucker-punched the miners. Compounding investor anxiety is that the recent sell-off is happening within the broader context of 18 months of the metals and miners grinding lower since gold hit its all-time nominal high. Yet, whether you are watching the Fed’s balance sheet or candlestick chart patterns, the fundamental evidence has not changed. The spending, borrowing, and leveraging behavior of today is the same kind as seen throughout the millennia, but to a far greater degree. We should not expect a different outcome. Now is not the time to run a “conviction deficit.” If luck is the confluence of opportunity and preparedness, then I see some lucky days ahead. But be prepared for the payoff to happen on someone else’s schedule. “Imminent” does not lurk dead ahead. Terry Coxon, Senior Economist (The Casey Report): For the last year or so, I have leaned toward the idea that if would be a while before gold moved much higher, since most of the people who understood how the deficits and money printing that have been propelling gold have now bought in. I don’t expect gold to move to new highs until something happens that the other 98% of investors will see as a reason to buy gold – such as conspicuously higher rates of price inflation. The recent drop may be from impatience or from worries that the Fed is going to throttle back from reckless printing of new money to a money-creating program that is merely incautious. But I don’t believe that the bull market in gold is over, because the dollars that the Fed has produced since 2008 are not going to get unprinted and will eventually come out of hiding and fuel double-digit rates of price inflation. Junior gold stocks are another matter. People don’t buy them as a store of value and won’t keep them if they are going sideways. So either they go up – which is hard to do when gold is steady to down – or they drop. I wouldn’t expect a recovery until speculators are willing to bet on the metal rising, which I don’t expect to happen this year. Jeff Clark, Senior Precious Metals Analyst (BIG GOLD): To a large extent, the hedge fund managers and institutional investors don’t see a second crisis coming and therefore conclude gold is no longer necessary. They see the signs that point to an improving global economy – and then notice that inflation is not the big bad scare they assumed it would be by now. So they sold. Technical levels were hit in the eyes of some, triggering further selling. Throw in some panicked retail investors and forced redemptions, and the rout was on. All of this ignores the macro picture – bloated balance sheets around the world and economies being flooded with paper money. Yes, that’s been the case for a while, but none of it has been unwound – a process that will be difficult to time, messy to carry out, and punishing to our standard of living. The reality is that inflation is inevitable, regardless of what those who were pimply teenagers the last time gold was in a bull market might think. The way to view this is short-term sentiment versus long-term reality. Don’t let the weak hands pull you under. For gold stocks, the blood-in-the-streets process is under way. I’m personally turning over couch cushions to get ready. It may or may not reverse soon, but sooner or later fundamentals trump shortsighted theories and lines crossing on a chart. We’ll have a lot more to say – as well as what to do – in the upcoming issue of BIG GOLD. Given the profoundly bearish sentiment that has gripped so many participants in the resource sector, particularly gold investors, we decided to poll the chief editors at Casey Research regarding the current sell-off. We recognize the severity of the situation and want readers to know we’re taking it very seriously. We also want readers to know that the “Casey consensus” is not a single view imposed on all, but the result of a constant conversation we have among ourselves, questioning our own premises, making sure we don’t ignore new data if and when it contradicts our expectations. This is why some of the thoughts below will seem less positive than others; we see this sort of open discourse as a good and healthy thing for out business. Without further ado, then, here are the thoughts of the principal members of the Casey Brain Trust (click on the names to read bios). Bud Conrad, Chief Economist (The Casey Report): My main reason for believing that gold is a long-term, solid investment is that government debt is continuing to grow, so the Fed is “printing” up new currency and that will debase the dollar. Gold is the best investment in the face of the inflationary pressures of deficits and complicit central-bank printing. The chart below shows the size of US federal government debt and the price of gold. The point is that the deficit is continuing because the government finds it easier to let the Fed buy up debt than to raise taxes or cut spending. The very public failure of Democrats and Republicans to even discuss solutions, combined with the $75 trillion of unfunded liabilities for baby boomer retirees, guarantees rising debt levels.center_img The above two lines can be presented as one line by dividing the price of gold by the federal debt to show how much higher gold rose in the inflationary 1980s. Presented this way, as the next chart shows, gold has a long way to go to meet the level of that prior bubble’s peak. Marin Katusa, Chief Energy Investment Strategist (Casey Energy Report): It’s no secret that I’ve been bearish on most things in the resource sector for the last 18+ months. At the Casey Conference in September 2011, I stated that I believed a deflation in resource stocks would occur, meaning lower prices. It is during times like these that the greatest opportunity exists, when there is blood on the streets. And I can confirm that there is blood in the streets in Vancouver, the epicenter of junior resource stocks in the world. Stock brokers, money managers, IR firms, geologists – are all hurting. This is good for us, because we look to buy things cheap. Sector pain is good, because we are on the right track. I think this will continue for another year or two, but because there is so little to be optimistic about, the stories that do show great potential will have the masses rushing into them. Look at Africa Oil, for example. That was a story we were first to recommend – but for years subscribers had to suffer from the boredom of a stock that passed all of the Casey 8 Ps and had to wait until the company drilled its 10BB block. Africa Oil showed a lot of promise, and the big funds flooded to it because it was one of the few stories that had liquidity and warranted the speculation. Our mantra in the energy side has been risk mitigation and to book profits whenever possible. It was one of the few stories the big money could speculate in – and that is a trend for investors to watch, because if a junior does hit something tangible, the money is there to push the share price a lot higher. An investor needs to ask, “What is my time frame?” I will give a personal example. Copper Mountain, which today produces copper, gold, and silver, is Canada’s third-largest operating copper mine. I was extremely bullish when I became one of the largest investors in the company in 2006 and invested even more money in 2007 – I had a seven-year time horizon for the project. Copper Mountain went public in 2007, the stock doubled to over C$2.50 a share, then in a blink of the eye, November 2008 came along… and I had a penny stock on my hands. I ended up buying a lot more stock at those prices in the open market, because the company more than exceeded the Casey 8 Ps, and I had nothing but the utmost respect for the management team and believed that Jim O’Rourke and his team would deliver. Which they did: within 36 months, the stock went to C$8/share, a 2,500+% gain from where I bought stock in the open market in late 2008. It was one of the stories that survived the “valley of darkness.” However, if I didn’t have a longer-term time horizon and sold at the low of 2008, Copper Mountain would have been one of my largest losses, rather than what it is – a major success. After an investor understands his time frame, he must stick with the due diligence and make sure the company can survive the “valley of darkness.” Things do change along the way, and the company and its project may not have what it takes, and if so you have to sell and cut your losses. But if the story is getting better and the company is cheaper due to crappy markets, why would you sell? So, I don’t expect the overall good times for the resource industry to come soon, but I view that as a major positive. I view it as a positive because if you are able to find companies that pass the Casey 8 Ps, you will be buying stocks for dimes on the dollar. Fortune favors the bold. David Galland, Managing Director (The Casey Report): Of course, gold and silver being taken to the woodshed (or is it the gallows?) at a time when some central banks around the world have committed themselves to the wanton printing of currency units, while others have committed themselves to aggressive purchases of gold, makes no sense at all. It “should” be going up by $100 an ounce, not the opposite. But when it comes to any investment market, there are no absolutes. Clearly, there are powerful interests aligned against gold right now. And I’m not referring to government suppression schemes which may or may not lurk in the shadows. Instead, I refer to institutional money managers who are loaded to the eyeballs with cash and itching for a return. That gold is a relatively small market – certainly against stocks and bonds – makes it fairly easy to push around. That institutional traders invariably keep at least one eye on technical indicators has, in my opinion, led to something of a self-fulfilling prophecy, resulting in this latest move downward. So is gold in the woodshed or on the gallows, waiting for the final blow? While the market may currently be ignoring the fundamentals, the fundamentals exist nonetheless; and no amount of hoping they be otherwise is going to change the basic setup. And that setup is simply government debt that can’t be paid, with more being piled up every day in the tens of billions, an active currency war, and the wholesale debasement of the major currencies. The precious metals should be owned primarily as an insurance policy, and like an insurance policy pretty much tucked into a drawer and forgotten about. As Doug Casey likes to point out, there are also times that the precious metals (and related investments) are also good speculations. Given the speed and severity of the latest pullback, I think we could see a reverse of sentiment sooner than would otherwise be the case. So maybe that’s a good speculation. Personally, I’m going to hold my fire until and unless gold gets oversold below $1,500 – at which point I suspect the temptation to buy more will become hard to resist. Doug Casey, Chairman (The Casey Report): Frankly, I don’t care about short-term fluctuations in the gold market – or any market. They’re random and unpredictable. It makes no sense to clutter your mind with guesses about what might happen in the next hour, day, week, or even month. If you try to trade on that basis, you’ll be eaten alive by commissions, bid-ask spreads, taxes, and the vagaries of your own psychology. I’m only concerned with the long term. As for gold, it’s not a bargain at $1,600, but in light of what governments all over the world are doing – creating trillions of new currency units – it’s going higher. I continue to accumulate it mainly for safety, not gain. Right now I’m especially bullish on gold-mining stocks, which offer extraordinary speculative potential. Olivier Garret, CEO: The current technical indicators for gold, silver, and mining stocks are quite bearish, telling us there will most likely be continued pressure on the sector for a while longer and that we are likely to test lower levels. It’s possible that we’ll see market capitulation before this is over. While investors will find this period painful as they look at their brokerage statements, they should not lose sight of the fundamental reasons why they are invested in the sector. Have these changed? Absolutely not. In fact, there is a lot of evidence to the contrary. That said, times of steep market declines like these should be times to reassess one’s portfolio. While strong companies with great people, property, and the cash to pursue their strategies for the next one or two years without going back to the markets will survive and even likely to do very well (even if their stock prices are disappointing right now), the weaker players are likely to be wiped out entirely. So review your portfolio and no matter what the loss might be, liquidate any positions except the strongest of companies. You will be thankful you did so before it was too late. Experienced investors in the resource sector know that it is times like these when real money gets made. For example, in the first quarter of 2009, our markets were absolutely decimated – but the investors who stuck to best-of-breed companies and had the courage to carefully add to their positions did extremely well in the two years that followed. With the caveat that we may not have seen the bottom yet, disciplined investors will again make a lot of money when the markets turn around. Hopefully Casey subscribers have followed our advice to hold lots of cash and take free rides on existing positions. It is too early to be aggressive, but the current liquidation will present us with another incredible opportunity.last_img read more