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That Joe Kennedy story

Lithium Universe Limited (LU7, formerly Mogul Games Group Ltd) is a games, esports media and software business. Lithium owns and operates the tournament platform – advanced pure-play online esports tournament and matchmaking platform with automation for esports titles.

That company is now exploring for lithium:

There’s an old story about Joe Kennedy (father of Jack, Bobby and Ted etc). Joe was a stock market speculator and back at the end of the 20s he found that his shoeshine boy was discussing which stocks to buy. At which point he realised that there was no possibility at all of new money coming into the market – everyone in the country was clearly already here. So, he sold out – in the months leading up to the 1929 crash. Now, this is only an echo and again, we repeat, we know about the use of shell companies to gain a listing. And yet the esports business going lithium mining – when is the top of that lithium exploration market then?

True, we’ve been insisting for some time that it can’t be far off. Which is perhaps why this story resonates with us now. But the important point that we insist is true – that lithium market is going to peak, it’s only a matter of when.

3 thoughts on “That Joe Kennedy story”

  1. I’ve always understood that the lithium louts anticipate the government forcing us all to buy electric vehicles at gunpoint, so that’s where they expect the profits to come from.

    I don’t want an EV of course. So if most people feel like me, their doom is approaching pretty fast.

  2. I remark that Evergrande, which has just applied for bankruptcy protection in New York, is also in the EV game as well as real estate.

  3. I sort of wonder about this peak – mainly, how easy is it to transport lithium batteries, safely? See the recent fire aboard a vessel off the coast of the Netherlands. Only about 25 EVs out of getting on for 3,000 vehicles.

    Strikes me that the fire risk – when surrounded by salt water – might mean shippers refuse to carry the stuff, or insurers decline the risk.

    Which means that the batteries would have to be manufactured and installed into the vehicle within the domestic market.

    So, how stable are other forms of lithium? Potentially, the extraction and processing might also have to take place within each market. Lots of isolated markets, with limited trading between each of them.

    Lots of potentially volatile price action within each, maybe, but limited arbitrage?

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