Sunday, June 30, 2013

Protein for the World


An article in Globe & Mail made me buy the stock some 2 years ago. I do not seem to find the link now so I had to upload the images (see them at the end of the post) - I wanted to keep them as 'proof' so took a few photos of the article (click on the images to see them full size).


Very compelling all the information presented, producing protein from canola, it sounded like making gold out of ... dust (for the lack of a better comparison).

And the world needs protein. China and India are of course mentioned in the article; they always mention China for the newly launched companies and lately they have started to add India as well.

I bought the stock almost right away after the article (the constant fear of missing the boat) so of course as usual close to the maximum then the stock kept hovering close to my buying price, even lower, but I did not worry. The 1st factory was supposed to come online and then the 2nd to feed the whole world with apparently the so abundant and cheap canola.

Loss so far - 98% even if they still have a compelling case according to their website.


However the proof is in the pudding, in this case in the price of the stock.
As they say it is execution that matters.

Monday, June 24, 2013

Against Everyone and Everything to Express my Displeasure

I keep receiving letters from the companies whose shares I own to vote for various items.
Usually I would not pay any attention and the letters would end up in the recycling bin.

But this time I have decided to exercise my shareholder voting rights especially as you can vote online using www.proxyvote.com.

Formation Metals Inc. (TSE:FCO)
Bought at an average of $2.7 and the stock was $0.085 on Jun 24 so I compltely disagree with the following:

AGAINST directors, auditors, and some other items they must be of no good as the board of directors recommended 'For'. 

Bioexx Specialty Proteins Ltd (TSE:BXI)
Average buying price $1.9, the stock $0.035 on Jun 23

You guessed right, AGAINST all proposals 

Morgan Stanley India Investment Fund Inc (NYSE:IIF)
Average buying price $22, the stock $15.90

Not so bad here with the exception that for the past 5 years IIF is down -55.1% and the Indian Index SENSEX +26.26% (I have owned to stock since 2006-2007).
Thank you very much!

AGAINST the directors (there were no other items otherwise I would have voted against them also).
I was curious and I checked the performance for the past 10 years: IIF +45.21%, SENSEX +471.76%.
Enough said.

Twitter: @curbexcitement

Saturday, June 1, 2013

Against Facebook list of nominees for directors

Big names here, but I had voted against. I had paid around $40 for a share and now it is $24 so I didn't have any other choice.


Actually I should have voted for Mark Zuckerberg as I still trust him but cannot be bothered to change my vote now, especially that it would not matter either way.