The Philippine Onion

Lies and half-truths shall set you free

Sorry, we were right:buy on humor, sell when the joke’s outed

Posted by commiedyan on November 20, 2007

Yesterday we said that the price of Geograce Resources had more than tripled in the last 52 weeks. When the price hit ‘resistance’ at P3, the new humor in the past two months was that the prodigal son of Matias Defensor was going to be associated with management. Finally, the news has been officially outed. Yesterday it went as low as P1.76 but settled at P1.82.

We don’t want to rub salt on the wounds of the injured, but the joke really might be on you and the rest of us. After all, the prodigal son, without any qualms about conflict of interest after his failed bid for a senate seat after occupying the environment and natural resources top post,  used to mine the nose of the first gentleman.

So, if you want to recover your losses, start saving for the IPO of TPO.

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