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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks

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To: a.handbag. who wrote (2460)	1/21/2002 8:30:11 AM
From: Lorne Larson	Read Replies (1) of 11633

If you were preparing a personal net worth statement, you would have to value your house at its market value at that time. You could not argue that the value of your house was not related to the market because you didn't intend to sell it. You, and Peter, are confusing investment strategy with the concept of realization/non-realization. Also, there is absolutely no guarantee that the value of your house will ever increase to its previous value. Oil companies (and for that matter oil and gas trusts) can go bust like any other company. The concept that these things are foolproof and that you "can't lose" is simplistic nonsense. MXT (now UET) came very close to going bankrupt in 1998-1999. As a last point, I am not a "trader". Oil and gas is a cyclical industry. I left these trusts in June when it became obvious that oil and NG prices were headed downward. I also have no qualms about going short if I think I can make money at it on the down cycle. I am slowly starting to buy-back some trusts at much lower prices than I sold (PVE is at $8.60 now as opposed to $12.60 in May/June). If some people think that is "trading", so be it.

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