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 Orientation for Three KRO Member Types
    Publisher: Kaiser Research Online

 
KRO Orientation for 3 distinct KRO Member Types
Favorites for Retail Investors
KRO serves retail investors looking for exposure to speculative resource juniors. In that regard KRO is an annual collection of Favorites, formal recommendations confirmed at the start of the year, and to which new Favorites get added during the year while some get closed out because either their story has crashed or the stock is such a winner its valuation is way ahead of the fundamentals. Each Favorite has a value creation story that has a reasonable chance of fundamental success, usually as a result of management efforts, though sometimes in the case of "optionality" stories, the key story metal rising in price. Fundamental success should translate into a higher stock price, which is generally not going be the 500% plus gain one hopes for a "bottom-fish" before it qualifies as a Favorite. Some Favorites do still have a "bottom-fish" designation because all the pieces are not quite yet in place, such as a discovery hole or financing, but John Kaiser has judged that it is just a matter of time before it happens, and wants KRO Favorites followers to also have exposure to resource juniors with 500% plus upside potential. Most Favorites are supposed to have a Fair or Good Spec Value rating. A Good Spec Value rating is the best because it reflects John Kaiser's judgment that the market mis-understands the fundamental outcome value potential. John Kaiser uses the Rational Speculation Model as a framework to explain such assessments. Usually it just takes a double or so for the stock to become Fair Spec Value rated, which means that higher prices from achieving the fundamental outcome value are in line with the certainty of that outcome becoming reality. The KRO Favorites are intended for members who are what one might call a retail audience. Either they are looking for an "expert's" speculation ideas, or they are already long a pick of the expert and see a $450 fee as a cheap price to pay for intelligent commentary about a stock which is already a winner for them. The KRO Favorites are not intended for speculators looking for momentum trading ideas. If John Kaiser were any good at that he would just do it for his own account. Members attracted by the KRO Favorites need to pay attention only to the #02-Favorites channel in the KRO Slack Workspace where informal comments are posted on the fly, and 3 types of Trackers (formal comments posted to KRO): Spec Value Rating Overviews, What's Next Summaries, and story comments which can be a detailed overview with graphics or a brief explanation of a recent development.
Bottom-Fish for Workshoppers
KRO operates as a bottom-fish workshop which works with the research platform and the KRO Slack Workspace whereby John Kaiser continually tags resource juniors as "bottom-fish", companies that have significant success potential but are not already in a defined uptrend because there is one or more missing piece inhibiting a higher price. The bottom-fish workshop attracts members who are reasonably sophisticated but for various reasons such as time constraints prefer to use the "Bottom-Fish" designation as a primary parameter when they use the KRO Search Engine. The biggest gains in the junior resource sector emerge from "bottom-fish" as missing pieces fall into place. The key is usually a story in its infancy or one whose timeliness is not yet. Shells are generally not tagged as bottom-fish unless there is an unusual wrinkle John Kaiser has identified. A guiding principle is that John Kaiser must have reason to believe that the management team has a sincere goal of creating fundamental value and not just one of exploiting the potential as a pump and dump vehicle. Several hundred juniors may be tagged as bottom-fish, which creates a bit of an obstacle for John Kaiser's goal of writing a Spec Value Overview for each company. The workshop concept comes into play in two ways. One is that the Slack Workspace allows members to discuss what is wrong with a "bottom-fish" and what is needed to fix the problem. That function is observational and educational, and can lead to KRO member decisions to accumulate the stock while it is still in the shop waiting for repairs. The second function emerges from the first activity in that "workshoppers" may go beyond being passive shareholders by becoming engaged in helping fix these bottom-fish. This can take many forms. John Kaiser, for example, in his conversations with the management of such bottom-fish juniors, may offer suggestions on fixes that could give the company traction with its story, though because John Kaiser is not paid by these companies his "advice" is usually ignored. More helpful is John Kaiser's articulation of the underlying story and what needs to happen to give it wings. This attracts other KRO workshoppers who, when they are accredited investors, may approach the company directly with a funding offer. Or they may have an influencer persona somewhere in social media which they can use to expand the spotlight on the bottom-fish, after, of course, first accumulating a position. If a "bottom-fish" manages to assemble the missing pieces, with or without the help of the KRO workshop, the result is usually a strong uptrend. John Kaiser is a type of manager of this workshop, monitoring for companies that are losing their bottom-fish stigma and deserve to be turned into a Favorite. Workshoppers are happy with the $450 annual membership fee because they see this as a tool rental fee that helps them make their own sophisticated bets, but they would not like a higher fee because they do not operate at the same scale as the pure do-it-yourselfers.
Research Platform for Do-It-Yourselfers
KRO is a research platform for do-it-yourselfers which provides basic company and project level information about resource sector focused companies listed on the Australian and Canadian exchanges, and the handful listed on NASDAQ and the NYSE. This function attracts individuals who do not believe in paying for somebody else's ideas, who generate their own ideas for speculative bets in the resource sector. They view the membership fee in terms of how much time they save homing in on candidates through aggressive use of the KRO Search Engine and using the KRO Profiles as a staging ground for deeper research. They benefit from the KRO Slack Workspace by monitoring the channels where members discuss "big picture" trends. They think it is funny that it costs them only $450 per year to use KRO as a resource sector research platform. There are not many KRO members who fall into this DIY category.
Plans for a future KRO Favorites Spinout
KRO is hosted by a web site custom designed in 2004 whose content is rebuilt every night by an offline database system developed and maintained by John Kaiser. The web site is rickety and archaic looking. One day it will crash and not come back. Planning is underway to separate the KRO Favorites segment into its own web site which will resemble a traditional stock-picker web site aimed exclusively at retail investors. All active KRO memberships will be transferred to the new KRO Favorites web site for the remainder of their term. There will not be a Slack Workspace for KRO Favorites members. When the transition is complete, perhaps earlier, new KRO memberships will be discontinued. Active and former members will be given an opportunity to subscribe to the KRO Favorites on terms which grandfather them for continued access to KRO and the Slack Workspace until the KRO site shuts down, hopefully not until work to rebuild KRO on a contemporary, robust platform is complete. At that point KRO will function as a do-it-yourself research platform within which John Kaiser will run the bottom-fish workshop as a "farm team" for future KRO Favorites.
 
 

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