The Hasenfuss Reverse Indicator (HRI) went on the fritz last week. The HRI (patent pending) is an amazingly accurate indicator of the value of commodity stocks, a kind of reverse Midas touch. Quite simply, if I buy a mining or resources stock, you can be sure the share price will go down. This has been proved over many years — starting with long-forgotten stocks like Griqualand Exploration & Finance Co, Wes Wits and HJ Joel. More recently there have been sporadic — but costly — bouts in Pallinghurst, Ferrum Crescent (now Europa Metals), Tawana, Wescoal and Trans Hex.
At one time — and this is a difficult confession to make — I even held shares in Gazankulu Gold Holdings, which once sent out an annual report of stapled typing paper...
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