John Paulson – Gold Equities: Myths, Dreams And Reality [SLIDES]

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John Paulson – Gold Equities: Myths, Dreams And Reality [SLIDES]

Paulson & Co.’s presentation on gold miners titled. “Gold Equities: Myths, Dreams And Reality” from a presentation given yesterday at the Denver Gold Forum.See more slides and goodies here.

H/T Mining.com

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Gold Equities Have Severely Underperformed Gold Price

David Einhorn At The 2021 Sohn Investment Conference: Buy These Copper Plays

david einhorn, reading, valuewalk, internet, investment research, Greenlight Capital, hedge funds, Greenlight Masters, famous hedge fund owners, big value investors, websites, books, reading financials, investment analysis, shortselling, investment conferences, shorting, short biasThere's a gold rush coming as electric vehicle manufacturers fight for market share, proclaimed David Einhorn at this year's 2021 Sohn Investment Conference. Check out our coverage of the 2021 Sohn Investment Conference here. Q1 2021 hedge fund letters, conferences and more SORRY! This content is exclusively for paying members. SIGN UP HERE If you Read More


Input Costs Have Moved In Companies’ Favor

Gold Equities

The Sobering Reality Of Gold Equities

  • Analysis of 13 Largest Publicly Listed Gold Companies Shows Total Shareholder Returns Have Been Dreadful
  • Economic Returns Have Been Value Destructive
  • So What To Do?

Average Total Shareholder Returns Have Lagged By 65%

Gold Equities

Despite Poor Returns, CEOs Received $550 Million

Gold Equities

Despite Destroying $85 Billion In Value

Gold Equities

Where Has The $85 Billion Gone?

  • Industry Return on Capital Has Been Lower than Cost Of Capital
  • Cumulative Impairments Since 2010 Have Totaled $85 Billion
  • Analysis of M&A Suggests Serial Value Destruction
  • Return On Invested Capital Has Been Inadequat

Industry Spends More Than It Earns Despite Flat Production

Gold Equities

See the full PDF below.

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