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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: Gerald R. Lampton who wrote (7300)3/17/1997 9:45:00 AM
From: Goldberry   of 28369
 
Gerald thanks for your thoughtfull responce. In my own mind the key is your last paragraph

"The bottom line is that I cannot predict the future price of Bre-X or of gold. All I know is that gold as an
investment is disfavored right now, and Bre-X has the strongest fundamentals of any gold mining company I
have seen."

Should gold be as much in favour or better than it is now in 3 years and provided there are no unforeseen events clouding Indonesian investments I to believe Bre-X to be the stongest on fundamentals at this time based on future potential. My own instincts are to stay away from gold as a longer term investment. My viewpoint at this time is to treat gold shares as a trading vehicle and take the profit deploying it elsewhere such as bonds. When I was a Banker the most successful individual I came across invested in the stock market and continually took 75% of profits and placed them in well located real estate as a hedge. His reasoning being good property will always provide a good income and will hold its value. His time horizon on stocks was never longer than short to medium term. His philosophy worked well and I have tried to follow his gameplan substituting solid debt assets in place of property which unless you are dealing in much higher amounts is difficult to mirror.

Everyone has to live within themselves and it is this diversity of opinion on the market which makes it so intriguing.

As usual your opinion and thoughts are insightful and appreciated.

Graham
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