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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who wrote (101191)5/10/2001 1:19:52 PM
From: LLCF  Read Replies (3) of 436258
 
<goldman says "sell your goldshares" HO HO >

CSFB [my old firm] too! What a laugh, look at this resoning:

<In our opinion, very little has changed with respect to the short term supply and demand fundamentals and we believe that the currently rally could end as fast as it began.>

<We continue to recommend an Under Weight position in the sector and encourage investors to take advantage of current market opportunities to reduce exposure to the sector.>

Oh, sell from my already underweight portfolio??? LOL

<Our primary valuation measure for this sector is Price/DCF (or net asset value, intrinsic value, rock-in-the-box value etc.) which is a dynamic measure of life-of-mine economics discounted to the present. However, changes in this
multiple more often relate to changes in analyst assumptions than investor expectations, and therefore historical comparisons are difficult. However,
other measures that address underlying value on a more simplistic basis, can be used to get some idea of valuation levels and investor expectations. Adjusted market capitalization (enterprise value) per reserve ounce shows
what an investor is paying for a gold ounce in the ground. The following chart highlights how this has varied over time, with the range being $66 to $ 206, and the current average being $94. Although the current average is down
some $112 from its peak in early 1996, gold is down by $146 per ounce over the same period.>

Nice of them to assure the continued rally. Jeez, does ANYONE own goldshares?

Pretty funny, all this pissing around over a $4 in gold!

DAK
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