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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Frank Pembleton who wrote (92747)7/25/2001 4:59:26 PM
From: Sharp_End_Of_Drill  Read Replies (4) of 95453
 
Fpembleton, in reply to your devaluation of the Euro post:

One thing I've wondered about for a while is just where should one put their currency.

I think the Euro is a terrible choice, the Yen is a joke, and frankly there aren't any great options to the dollar.

If you overlay those beliefs on my opinion that the US economy is in dire straits, then you might come to the conclusion that the US dollar will continue to rise (as the least worst choice) until such a time that the bottom drops out.

Such a thing could provide the catalyst for the el grande market crash I expect to eventually happen, and may be good for gold too. However, I wonder - would it be good for gold stocks, or would they drop along with all other equities?

I've got a large NEM position. Their PSR is over 2, price to book over 2, and PE non-existent - all of which aint exactly cheap. Could gold equities be suffering from the same bubble-itis that almost everything else is?

Sharp
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