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Gold/Mining/Energy : Gold Price Monitor

GDXJ 90.47

+0.5%

Nov 6 4:00 PM EST

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To: long-gone who wrote (69356)	5/17/2001 6:35:17 PM
From: yard_man	Read Replies (2) of 116752

agreed -- speculating is the wrong word. And the comparison is a bad one, too ... one may make good arguments as to why it makes sense to take some "off the table," but such a comparison is absurd ... Buying CSCO here is beyond speculation ... it's donwright fool-hardy. Buying NEM expecting the gold price to appreciate from here is not an unreasonable expectation -- you don't buy based on what the PE is now, but what it is expected to be -- that's not speculation, it is investing. Investing doesn't mean removing all unknowns. Buying current cash flows (and earnings) and even expecting them to continue into the future involves expectations that may not be met ... it is not somehow "better" investing (assuming a continuation) than buying based on an expected improvements in cash flows and earnings.

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