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Weekend reading: Planetary Resources

Some great reads from around the Web.

This week saw the launch of a company so grand in ambition, it might even persuade The Accumulator [1] to turn into a stock picker and stick £100 into a Sharebuilder account to buy into the dream for himself.

I refer of course to Planetary Resources [2], a company that takes the idea of a ‘blue sky’ growth stock [3] beyond the ionosphere with its plan to mine asteroids for rare metals.

Here’s a video from the launch event to whet your appetite:

Excited? Unfortunately, you can’t buy shares in Planetary Resources yet. It’s an unlisted company, backed by James Cameron and the top team from Google, among others.

These billionaires get all the luck!

Planetary Resources sounds like a bit of an April Fool’s joke, but I must admit find its sci-fi ambition exhilarating.

Long-term readers will know I’m not half so gloomy about resource limitations as most people seem to be these days. I don’t think we’re anywhere near done with the resources on Earth (including energy) let alone those within shooting distance of a rocket ship.

I am worried about environmental devastation [4], but that’s because I rate humanity’s sense of stewardship as far less developed than its instinct for consumption and survival.

I’d like to make jokes about Planetary Resources – they write themselves, really. But today I’m feeling less than cynical.

So hurrah for people with long-term [5] vision.

Besides, they countered my would-be hilarious riff about what would happen to the gold price if they actually succeeded in funding a trip to bring a caravan-sized lump of it back to Earth in their FAQ [6]. Smart cookies.

From the money and investing blogs

Book of the week: Monevator has been featured on Abnormal Returns, so it would be rude not to mention the site has spawned a book of Winning Strategies from the Frontlines of the Investment Blogosphere [18]. The author is a good editor, and his book seems cleverer than the subtitle implies.

Mainstream media money

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