November 2015 Issue of Ultimate Value Finder is Released


Investment Opportunity 1 – Is the Market Paying Attention?

Investment Opportunity 1 is a holding company with several businesses. For many years, the shareholders were not happy with how they were treated by the management. A big portion of the company’s profits were going to pay the CEO. There were also corporate governance issues. After one particular fund pushed for changes, things improved. In addition to that, the financial performance has been impressive during the first six months of 2015, making the company undervalued.

Investment Opportunity 2 – Undervalued Due to a Confusing Capital Structure

Usually it is easy to tell how the market is pricing the entire company. You simply look at the stock price and you multiply it by the number of shares. This is how you arrive at the market capitalization. Because such a calculation is so straightforward, most financial websites provide you with the market capitalization figure without requiring you to go through it yourself.

This is not the case with Investment Opportunity 2. Google Finance thinks the company has one market cap while Yahoo Finance thinks that it is completely different. This is because everybody is confused about the company’s capital structure. Consequently, the majority of investors simply skip this company and put it into the too-confusing pile, leaving it undervalued.

Investment Opportunity 3 – Apple Watch? I Don’t Think So

Investment Opportunity 3 is a good company with growing revenues and profits. It also has an incredibly strong balance sheet. Despite that, the stock is trading very cheaply. Why? Because Apple developed Apple Watch, which could potentially disrupt the luxury watch market. I believe that such a threat has no legs. Apple might be a cool company, but it is unlikely to succeed in the luxury watch market which means that this company will keep performing as well as it has been for many years. Eventually, the stock price will have to return to normal.

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October 2015 Issue of Ultimate Value Finder is Released


Investment Opportunity 1 – Mining Heavyweights are Betting on It

Investment Opportunity 1 is a company that has been around for a couple of years but no one was really paying attention to it because it was simply a shell company looking to acquire cheap gold assets. It was formed in 2013 by several mining heavyweights to take advantage of a rapid drop in the price of gold which happened that year. As you recall, over three days the price of gold dropped by $300 per ounce.

Finally, on May 11, 2015, after a full year of due diligence and passing on 100 acquisition candidates, the group acquired a company which was an established gold producer from Australia. The idea behind this merger was to use the cash flow from the producing mines to expand organically and buy cheap gold assets.

This is a brilliant strategy because the gold industry is in a terrible bear market. Mining companies cannot raise cash to needed to develop their properties, and at the same time, because of large amounts of debt and continuous general and administrative expenses, they are forced to sell high quality assets that they would never sell under different circumstances.

Investment Opportunity 2 – Great Business that Looks Expensive

Company 2 has a great business. For the last ten years, the company grew revenues and profits without having to spend a lot of money to achieve that growth. As a result of this, the stock price kept increasing almost on a straight line. However, during the first quarter of 2015, the management did something that caused the stock price to tank. It was all self-inflicted.

Investment Opportunity 3 – Unique Company in a Confusing Industry

Investment Opportunity 3 is a company that I wanted to write about before but I didn’t because I could not understand it well enough to put together an adequate report. This time, I bit the bullet and spent hours and hours in learning about it.

Investment Opportunity 3 is a company with a very good business, but this is not very clear to the market. Instead, the market is confused as to whether the company is growing or not. What the market does not get is that the more time that passes, the more valuable the company becomes. Also, the crazy thing is that the company is actually growing but the market is pricing it as if it was declining.

If you are a subscriber, you already received an email with the full October issue.

Gold Production Just Hits Number 1 on Amazon Hot New Releases


Gold Production Hits Number 4 on Amazon

Thank you to all of you for your support. This morning Gold Production from Beginning to End hit number 4 on Amazon among the best sellers in the Precious Metals category. I could not be more excited.


My New Book – Gold Production from Beginning to End


Gold mining is arguably one of the most misunderstood industries in the field of investing. Many investors lack a basic understanding of how gold is produced and have unrealistic expectations about how long it actually takes. They are confused when mining companies encounter hurdles that must be overcome. Some seem to think that starting a mine is like turning on a switch. As a result, the prices of gold mining stocks are subject to wide volatility.

In this book, you will learn what it takes to produce an ounce of gold from beginning to end. You will read about all four stages of gold production, from exploration and mining to processing and refining. The topics covered include the different types of gold deposits and how they are found, as well as drilling techniques and how deposits are classified. Other topics include mining methods, such as bulk extraction and sublevel stoping, and an overview of special techniques used to process refractory ore – the most difficult type of ore to process. Finally, you will learn about doré bars, gold purity requirements, and the exchanges that specialize in buying and selling gold.

To learn more visit which is a website built strictly for this book.

September 2015 Issue of Ultimate Value Finder is Released


Investment Opportunity 1 – Activists Want Change

Investment Opportunity 1 is a company with a good business. Revenues are recurring and the expenses required to generate those revenues are small. However, you could not tell by looking at the financials. This is because the company is overspending and investing in non-core ventures. Such policies have attracted activist investors who are pushing for change. They want the company to maximize profitability. If they succeed, the stock price is likely to increase because the underlying value is higher than the price tag that the market has assigned to the company.

Investment Opportunity 2 – Keeps Paying Down the Debt

Investment Opportunity 2 is an over-indebted company with good assets. Recently, the management was fighting with activist shareholders who tried to force them to liquidate the entire company. The activists suggested that the company is worth more sold in pieces than operated as an independent company. Instead of selling, the company hired a new CEO with successful turnaround experience. The main component of his strategy is to aggressively pay down the debt. With three years of his budgeted debt repayment, the value of the common equity should double from the current levels.

Investment Opportunity 3 – Unique Company in a Hated Industry

Investment Opportunity 3 is a unique company. It has a superior business model in comparison to other companies in its industry. Its income stream is reliable because of long-term contracts with the majority of its clients. However, because the company is in an industry that is hated and out of favor, its stock price has been hammered. Some value investors are realizing this and acquiring shares on the cheap.

If you are a subscriber, you already received an email with the full September issue.

I Am Rich Now

Hello Skonieczny,

I’m Emmanuel KOLE, Private lawyer to Late John  Skonieczny,a national
of your country, Director of oil company, he died in a car accident
with his family, he had an account valued at about Eleven Million Four
Hundred Thousand Dollars in Bank here.

Since then I have made several enquirers to your embassy to locate any
of my clients extended relatives this has proved  Unsuccessful.

I have contacted you to assist in Repatriating the money left behind
by my  client before they get confiscated or declared unserviceable by
the bank here in Benin.

Eleven Million Four Hundred Thousand Dollars. can be paid to you since
you have The same last name, then you and me can Share the money. 50%
to me and 50% to you.

I guarantee that this will be executed under a legitimate arrangement
that will protect you from any breach of the law. And the way we are
going to achieve this is.

Kindly send your full name, telephone number, address, for
confidential reasons, so that I will send more details to you.

I await your reply ASAP.

Best Regards.
Barrister Emmanuel KOLE

Interview with Harris Kupperman of Mongolia Growth Group

August Issue of Ultimate Value Finder is Released


Investment Opportunity 1 – The Ugly Fight Continues

Last month, I wrote an article about how this company smells like fraud.

After writing the article, I received several responses from various people who helped me understand the situation even better. If I didn’t know the details of this story and someone approached me about it, I would have said that stuff like this only happens in movies. I am talking about bribery, kidnapping, fraud, and threats. This whole thing is so ridiculous that I lack the words to describe it.

Investment Opportunity 2 – A Completely Different Thesis

I have owned company 2 since 2010. I wrote about the company in the first issue of Ultimate Value Finder in 2012. Lots of things have changed within the company and its industry. I think people are so exhausted waiting for things to happen with this company that they are no longer paying attention. The interesting thing is that there is a completely different thesis that is better than ever before.

The crazy thing is that you are getting a growing business for free because the company is trading for less than the cash in the bank.

Investment Opportunity 3 – It is cheap by any metric

I have a relatively long history with company 3. I bought it in 2009 for $5 per share and held it all the way until it reached $27 per share. I should have sold it at the peak. Instead, I watched it drop to $15 per share and then sold it. It was still a successful investment. It is always hard to know when to sell.

At $5 per share, it was easy to see that I was getting more value versus the price that I was paying. Well, today, the stock price is at $4 per share. Consequently, it is easy again to see that the value is incredible.

If you are a subscriber, you already received an email with the full August issue.

Coal Miners Struggle to Survive in an Industry Battered by Layoffs and Bankruptcy

WAYNE, W.Va. — There is pain across the nation’s coal fields, but here in West Virginia, the disruption is particularly acute.

Mines are closing almost every month. Sawmills that provide wooden support beams for the tunnels are laying off workers, and diners are putting up signs asking their customers to pray for the miners.

The coal industry, long the heart that pumped the economy here, is in deep trouble, buffeted by power plants switching to cheap natural gas, crippling debt, mounting foreign competition and increasingly strict regulations to limit greenhouse gases and toxic emissions like mercury.

“It’s just the times we are facing,” said Mitchell Maynard, a miner, as he left the Camp Creek mine recently after one of his last shifts before he and more than 400 of his co-workers lose their jobs.

Mr. Maynard, who wears a large tattoo on his upper left arm showing a joyous Jesus embracing a blissful miner, has been contemplating what he will do to support his family since he learned last month that the mine will close for good. He has yet to come up with an answer, but he has not lost hope. “I know I will find guidance from the Lord,” he said.

Mr. Maynard’s once-mighty employer, Alpha Natural Resources, and the entire coal industry could use some divine intervention right about now. The most immediate challenge to the coal industry is the hydraulic fracturing revolution that has produced a glut of natural gas over the last four years, making the fuel cheaper to burn and stimulating a relentless switch by utilities away from coal.

Since January, six domestic coal producers have filed for bankruptcy, including Patriot Coal, which applied for Chapter 11 for the second time.

The decline has taken a heavy toll here in Wayne County and the surrounding area in West Virginia and Kentucky, where roughly one in three of the nation’s 80,000 coal miners work.

Read the rest.