Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Taikun who wrote (57203)	12/13/2004 9:14:53 PM
From: LLCF	of 74559

<My point is that if GLD sub-custodians can use futures you never know where the physical gold is. > I think this needs qualifying.... I'm sure there is verbage in the boilerplate stating their strategy with respect to coverage of shares with Gold. If you're worried about a "rogue trader" leaving the company outside their parameters and 'taking shots' ala Nick Lesson, IMO those worries are best set aside. This company has a simple mission, and it doesn't seem to include big swinging dics taking shots for bonus money. <Therein lies the problem and opportunity for abuse.> Yes, and the chance of someone taking your bullion from under your front porch is probably much more worrysome. DAK

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