Kobalt (81.94)

On Correlation, Precious Metals and Business Models

March 29, 2011 – Comments (1) | RELATED TICKERS: OMEX , GLD , ABX

Odyssey Marine, the deep ocean treasure hunting outfit that actually finds treasure, got some coverage today for a hunt with all the markings of good television.  It will be searching and hopefully salvaging the  S.S. Gairsoppa, a ship sunk by the Nazi's with a bundle of silver. More on this at  http://bloom.bg/hRDkqs.

Don't know when they rated it, but Craig Hallum analyst Mark Argento says this about Odyssey; “We’ve got a buy rating on the stock; it’s what we call a big idea,” “It’s got biotech-type returns without the massive upfront capital. The next few months should prove interesting.” 
Odyssey stock has begun to track with precious metals, recognizing rightly or wrongly that it's primary value is pulling precious metals out of the ocean.

After all of my bluster about a portfolio that zigs when others zag, that isn't correlated to everyone else, I end up with more and more plain old gold and riches in my portfolio.  Blinded by noble metals, eh? 

P.S. Didja notice the Bloom.bg link above?  Bloomberg has a deal with bit.ly to convert to that instead of generic bit.ly addresses.