Today I'll tell a tale that may not even be true, but I got a big kick of it and it involves two of Canada's most famous mining personalities, the late Murray Pezim and the great George B. Cross.
Pezim was the gregarious stock promoter immortalized in Sports Illustrated who helped finance several tremendous mineral discoveries, and many more misses. But (most) everybody loved him dearly. He passed away in 1998.
Mr. Cross, however, was the most significant mineral exploration commentator and news aggregator of the 20th century, and remains one of the most respected men in the mining business. Hat tip Mr. Cross.
Both men were inducted into the Canadian Mining Hall of Fame (Pezim - 1998, Cross - 2007).
And now for the story...
So Murray Pezim runs into George Cross at the intersection of Howe and Pender Street's in Vancouver, the epicentre of the mineral exploration business worldwide (and the same street corner where your author has penned this post).
"What's the latest, Murray?" Mr. Cross asked.
"George, I should have called you already... Buy as much XYZ as you can, and quickly (true stock symbol unknown - like I said, I don't even know if this is a true story), it's going to go," Pezim said, as he pointed up...
Sure enough, Mr. Cross, an astute speculator, bought a sizable block in XYZ corp on Mr. Pezim's recommendation the very next day.
A few months later, XYZ's share price had languished on no news, and the two men ran into each other once again at Howe and Pender.
"You bagged me, Murray!" Mr. Cross yelled from the other side of the street.
To which Pezim responded, so the story goes, "I'm sorry George, I needed the money."
