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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: The Ox who wrote (35469)1/20/1999 7:40:00 PM
From: Crimson Ghost   of 95453
 
Comments today from gold and stock market guru Steve Kaplan that apply to OS investors with a vengeance:

THOUGHT FOR THE DAY: Risk is always perceived to be greatest when it is least, and vice versa. Investing
in the stock market has never been a more dangerous enterprise than it is right now, yet it has become as
commonplace as a morning cup of coffee with the Wall Street Journal. Betting on rising commodities prices is
currently considered to be an option only for idiots, although with inflation-adjusted valuations at levels
equivalent to that of the early 1970s, the risk/reward scenario has rarely been rosier. In the early 1980s,
commodities were all the rage and stocks, which hit their lowest inflation-adjusted levels since World War I,
were avoided like the plague.
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