TFMR Podcast #28 - Ned Naylor-Leyland discusses the miners

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We all know and love Ned around here. Over the past year or so, he has become one of the "public faces" of our movement as he consistently and eloquently states the principles and necessity of sound money. What you may not realize is that Ned's day job is that of a fund manager.

What kind of fund, you ask? Ned manages a portfolio of miners for Cheviot Asset Management in London. In short, the miners are his specialty. Recognizing this, I thought it would be fun to discuss mining stocks with Ned, particularly since the metals are rolling higher again and the HUI has finally broken above 460.

Ned also discusses the current status of the physical silver exchange he first brought to out attention back in February so please the time to listen to this entire podcast. I'm confident that you'll enjoy it.

TF

  92 Comments

Sep 7, 2012 - 4:23pm

CoT analysis

In case you missed it on the previous thread:

Gold CoT just as expected. Gold Cartel issues new paper silver to satisfy spec demand.

Silver CoT incredibly interesting for the second week in a row and leads me to think that, in fact, the initial stages of my summer "forecast" have, indeed, begun.

Just like last week, spec silver demand was NOT met with fresh paper shorts. Instead, the Silver Cartel again chose to dump silver longs to meet the bids of the specs. THIS IS VERY UNUSUAL. Another 5,742 longs dumped this week. For those keeping score at home, from a high of 47,747 three weeks ago, the smaller banks have now shed 15,450 contracts or 32.3% of their gross long position. In three weeks! All to satisfy spec demand! While price has risen from $27.85 to $32.41!!

The questions are: What happens when the smaller banks, noticing that JPM is remiss to issue more shorts, turn on JPM and stop selling? Indeed, what happens when the smaller banks join the specs, begin to buy and really put the squeeze on JPM?? Would it be hot and explosive? Would it perhaps be historic?

Chew on that this weekend.

Swineflogger
Sep 7, 2012 - 4:28pm

Numero Uno?

No longer a virgin.

Sep 7, 2012 - 4:40pm

Ned rocks

Lead us in- Turdville is ready to get dirty!

ACM
Sep 7, 2012 - 4:41pm

Your Lips To God's Ears

Let's hope this IS it. Have a great weekend all you long suffering metal folks.

Marblesonac
Sep 7, 2012 - 4:42pm

I'm thurd,!!!

Woohoo And on such a great up day!

pickaxe
Sep 7, 2012 - 4:46pm

COTS - JPM Intervention

Not sure what form it will take, but I'm thoroughly convinced that some bought-and-paid for governmental (quasi?) agency will come riding to the rescue of JPM to keep them from serious harm.

Maybe Benny will do a special print run for Jamie and claim it was saving us from disaster and all in the best interest of the country.

Nauseating!

~pickaxe

Edit: Wow, think this is my first time in the top 10... now off to listen to podcast.

145Bluesman
Sep 7, 2012 - 5:01pm

Could have Would have Should have......

........been first had I not taken the time to read the post and make a phone call.

Thanks Turd for all you do, and making this a great PM site.

Sep 7, 2012 - 5:12pm

Pining

FABULOUS!!!

Swineflogger
Sep 7, 2012 - 5:22pm

@Pining

Your Photoshop skills are without equal.

Have a great weekend.

Oink to the Fourth Power.

Anonymous
Sep 7, 2012 - 5:23pm

Removed comment

Removed comment.

Key Economic Events Week of 1/27

1/28 8:30 ET Durable Goods
1/28 10:00 ET Consumer Confidence
1/29 10:00 ET Pending Home Sales
1/29 2:00 pm ET FOMC Fedlines
1/29 2:30 pm ET Powell presser
1/30 8:30 ET Q4 GDP first guess
1/31 8:30 ET Pers Inc and Spending
1/31 9:45 ET Chicago PMI
2/2 10:00 pm ET Chiefs win SB LIV

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Key Economic Events Week of 1/27

1/28 8:30 ET Durable Goods
1/28 10:00 ET Consumer Confidence
1/29 10:00 ET Pending Home Sales
1/29 2:00 pm ET FOMC Fedlines
1/29 2:30 pm ET Powell presser
1/30 8:30 ET Q4 GDP first guess
1/31 8:30 ET Pers Inc and Spending
1/31 9:45 ET Chicago PMI
2/2 10:00 pm ET Chiefs win SB LIV

Key Economic Events Week of 1/13

1/14 8:30 ET CPI
1/14 9:00 ET Goon Williams
1/15 8:30 ET PPI and Empire Fed
1/16 8:30 ET Retail Sales and Philly Fed
1/17 8:30 ET Housing Starts
1/17 9:15 Et Cap Ute and Ind Prod

Key Economic Events Week of 1/6

1/7 8:30 ET US trade deficit
1/7 10:00 ET ISM Services PMI
1/7 10:00 ET Factory Orders
1/8 8:15 ET ADP employment
1/9 8:00 ET Goon Chlamydia speech
1/9 1:20 ET Goon Evans 2:00 ET Goon Bullard
1/10 8:30 ET BLSBS
1/10 10:00 ET Wholesale Inventories

Key Economic Events Week of 12/16

12/16 8:30 ET Empire State Manu Idx
12/16 9:45 ET Markit flash PMIs Dec
12/17 8:30 ET Housing Starts and Bldg Perms
12/17 9:15 ET Cap Ute and Ind Prod
12/19 8:30 ET Philly Fed
12/20 8:30 ET Final guess Q3 GDP
12/20 10:00 ET Pers Inc and Spending
12/20 10:00 ET Core Inflation

Key Economic Events Week of 12/9

12/10 8:30 ET Productivity and Unit Labor Costs
12/11 8:30 ET CPI
12/11 2:00 pm ET FOMC fedlines
12/11 2:30 pm ET CGP presser
12/12 8:30 ET PPI
12/13 8:30 ET Retail Sales
12/13 10:00 ET Business Inventories
12/13 11:00 ET Goon Williams speech

Key Economic Events Week of 12/2

12/2 9:45 ET Markit Manu PMI
12/2 10:00 ET ISM Manu PMI
12/2 10:00 ET Construction Spending
12/4 9:45 ET Markit Services PMI
12/4 10:00 ET ISM Services PMI
12/5 8:30 ET Trade Deficit
12/5 10:00 ET Factory Orders
12/6 8:30 ET BLSBS
12/6 10:00 ET Wholesale Inventories

Key Economic Events Week of 11/25

11/25 8:30 ET Chicago Fed Nat'l Idx
11/25 7:00 pm ET CGP speech
11/26 8:30 ET Advance Trade
11/26 9:00 ET Case-Shiller home prices
11/26 10:00 ET New home sales
11/26 10:00 ET Consumer Confidence
11/27 8:30 ET Q3 GDP 2nd guess
11/27 8:30 ET Durable Goods
11/27 9:45 ET Chicago PMI
11/27 10:00 ET Pers Inc & Cons Spndg
11/27 10:00 ET Core inflation
11/27 2:00 pm ET Beige Book

Key Economic Events Week of 11/18

11/19 8:30 ET Housing Starts & Bldg Perms
11/20 2:00 ET October FOMC minutes
11/21 8:30 ET Philly Fed
11/21 10:00 ET Existing Home Sales
11/22 9:45 ET Markit November Flash PMIs

Key Economic Events Week of 11/11

11/12 Three Fed Goon speeches
11/13 8:30 ET CPI
11/13 11:00 ET CGP on Capitol Hill
11/14 8:30 ET PPI
11/14 Four Fed Goon speeches
11/14 10:00 ET CGP on Capitol Hill
11/15 8:30 ET Retail Sales
11/15 8:30 ET Empire State Manu Index
11/15 9:15 ET Cap Ute and Ind Prod
11/15 10:00 ET Business Inventories

Key Economic Events Week of 11/4

11/4 10:00 ET Factory Orders
11/5 9:45 ET Markit Services PMI
11/5 10:00 ET ISM Services PMI
11/6 8:30 ET Productivity & Labor Costs
11/6 Speeches by Goons Williams, Harker and Evans
11/8 10:00 ET Consumer Sentiment
11/8 10:00 ET Wholesale Inventories

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