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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Lucretius who wrote (19019)	9/18/2000 9:48:01 AM
From: pater tenebrarum	Read Replies (1) of 436258

thanks...btw, an Austrian newspaper, "Die Presse" reports today the following: there's a big article on how European fund managers are more bullish on US equities NOW than at any time during the past decade, believing the 'soft landing' is in the bag (read: they're fully invested). then there's a second article that re-iterates all the bearish arguments on gold, mentioning in passing that gold just hit fresh two year highs in Euros...but stating firmly that gold has 'lost its inflation hedge' properties...one fund manager is cited as saying "the only thing that could possibly lead to a rally in gold would be an all-out crash in equities markets, something that is out of the question at this time..." the arguments are all bass-ackwards, e.g. the gold sale by Uruguay and Chile is presented as bearish...it's of course the other way around, because the more CB's lose their reserves without denting the gold price in the least, the less selling pressure can possibly emanate in the future. in summary, i take these articles as very encouraging signs...i remember they had a big article on oil last year near the lows, asserting that $5 bbl. was on its way...

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