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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: substancep who wrote (42990)5/28/2001 4:40:05 PM
From: StockHawk  Read Replies (3) of 54805
 
Diamonds are common and the price is artificially inflated by DeBeers(sp?)? Is this the case?

It has long been the case, and for many years DeBeers was able to keep all comers in line, despite politics, wars, economics, etc. they were able to convince one and all owners of diamond minds to hold supply and allow diamonds to move only through prescribed channels. But little by little the damn began to break. The Russians were notorious for not cooperating and then there were the "blood diamonds" used to finance revolutionaries in Africa. These were often not sold through channels. Over the years DeBeers resorted to buying and hoarding diamonds to keep control of supply. Not too long ago they decided to drop that strategy. They hope to maintain profitability by branding - convincing the public that a DeBeers diamond is special.

Like the stock of an unprofitable dot com a diamond may not have the value that it should.
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