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Pastimes : CNBC -- critique.
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To: Ted David who wrote (7828)5/10/2001 12:42:39 PM
From: Joan Osland Graffius  Read Replies (1) of 17683
 
Ted,

I would like to communicate a couple of items on your gold coverage. Joe K. made an off the cuff statement "that investors have lost a lot of money on gold stock prices over the last 20 years and no dividends to boot". That is a false statement. If you folks look at the South African gold stocks you will find that dividends have been sent to stock holders for longer than any of us have been alive. If one does their home work on gold stocks the American gold mines are "juniors" relative to the South African mines and a serious investor would buy the South African companies. Also your current reporting constantly talks about what a stock has done from its recent bottom. An equal look at the gold index HUI shows the index has beaten the NAS, DJI and SPX hands down since November. The XAU contains copper therefore when you talk about a gold index in my opinion you should be using the HUI index.

One of my thoughts on CNBC reporting is you folks are always subjecting your listeners to the sectors that are overpriced. For example when oil was trading at $10 a barrel CNBC was directing the listeners to High Tech. A few of us here on SI were in there buying the oil stocks with both hands as well as the coal stocks. The game is to buy cheap companies and sell high. I would think you would benefit your listeners with communicating "what is cheap" not pushing the small investor into areas that are expensive.

Take care,

Joan
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