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Gold/Mining/Energy : Kinross Gold
KGC 24.34+2.4%Nov 7 9:30 AM EST
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To: tk who started this subject2/3/2001 9:51:24 AM
From: livefromnewyork  Read Replies (2) of 530
 
I almost bought Kinross a few years ago when it was around eleven dollars. I asked myself .......How long can gold stay beaten down? I didn't like the answer I was giving myself so I stayed away.

As I said Kinross was a good company. It very likely is today as well. Problem is it got caught up in all the troubles gold was having. The biggest being that gold fever is what really drives gold investments of any kind. Gold fever is caused by recklessness and greed and only cured by scandal. It is the period of time between those events where gold isn't much of an investment. The last big scandal was Bre-X. It broke investor confidence in all things golden and every gold stock was adversely affected.

So the answer to the question "How long can gold stay beaten down?" was in my estimation ....................... until another generation of new investors(neophites) who have never made piles of money as gold investments rise nor lost their common sense and piles of money as gold investments fall are ready to come into the market place.

IMO that takes at least a dozen years. So to get back to those wonderful days of yesteryear ................ 1997 + 12 = 2009. I may start looking at gold again in five years.

That certainly doesn't mean a stock like Kinross couldn't do well coming from forty seven cents in the mean time. I just want to sell to people who have the sickness when I'm holding gold and I want there to be an epidemic going on when I do.
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