Ann: Managing Director Company Update, 121 Conference Cape Town, page-146

I can’t help but to copy and paste these insights from the great Bob Moriarty, investment legend. Time to enjoy and reflect.

Bob Moriarty: Yes, there are some wonderful people in the mining sector and there are some guys who tell the truth as a rule. However, one thing you’ve got to realize is that when a guy starts lying to you he may very well be lying about everything. I have had some investments over the year in which I knew the managers were lying about some things but I still loved the story so much that told myself “well, he can’t be lying about everything”, but sure enough, they were lying about everything.


“It’s been my experience that resource companies are often run by idiots pretending to be managers who live the good life while sucking the financial blood out of the veins of helpless investors. It’s a dangerous business, where failure is the norm. Share prices run up and down faster than a bride’s nightie. I’ve run into charlatans, con men and fools. I’ve visited hundreds of mining properties and i’ve been lied to on almost every trip. I find that wonderful, being lied to maybe 75 percent of the time. I used to be in the computer business. There I got lied to 100 percent of the time. So the liars in mining are at best amateurs in comparison.” ~ Bob Moriarty