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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: Cyrus who wrote (13690)4/12/1997 8:42:00 PM
From: Walter   of 28369
 
Cyrus: those are good pts and Goldman also brought it up earlier. Let me play devil's advocate.

Fact #1: Walsh is not the smartest CEO in the world but he is not that stupid. If he did sell stock in the last 3 months he is nailing his own coffin. He has got to be really STUPID and crooked if he sold any stocks after what he has been saying about bre-x. I think the chances of him being duped is better than the chances of him being part of any salting scam.

Fact #2: Again I can see/understand Walsh being duped also.

Fact #3: Walsh already has a dime or two in his pocket. Him and his family sold about $35 million worth of stock last fall. That is quite a few dimes for an ex-bankrupt. Even though he still has 97% of his net worth in Indo, bre-x can go to pennies tommorrow and he still would(? unless he gets sued) come out of this a wealthy man.

He is resigned to waiting for the audit because he has no other choice. If he disappears now everybody will know the obvious motive. He has to stick around and hope he wasn't duped. Even if he is in on it, he can always plead ignorance and hope he can still keep a few million $. He will point to all his statements backing up the deposit and say he truly thought the deposit is real and that he also was duped.
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