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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks
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To: Lorne Larson who wrote (2950)3/21/2002 1:30:29 PM
From: a.handbag.  Read Replies (3) of 11633
 
Please stop poking Peter Pan with a pointed stick. You know exactly what response you will get and I can't believe you get any pleasure from it. I know I don't. Fact is PP's investment strategy has rock solid underpinnings and a long history. Is it the only way? Of course not. Is it the best way? Who knows?
It is useless to fantasize about buying Microsoft in 1987, but you seem to go one step further by actually criticizing people for not buying at what in hindsight was a low.
As a long term holder of mainly royalty trusts I am very interested in the long term prospects of the commodities. The current price is obviously set by traders who respond to storage levels, the weather, comments by OPEC officials and geopolitical considerations. For the mid term, months ahead, the economists may have it right by looking at business cycles, industry consolidations and technological improvements. However, long term, years ahead, the only thing that matters is geology. None of the above factors create an extra drop of oil. They can influence production but not reserves. Reserves trump every other factor in the long run. If the mantra in real estate is "location location location", then ours should be "depletion depletion depletion". On this subject, I read somewhere that the reserves in the Caspian oilfields had been revised downward from 200 to 90 billion barrels. Does anyone have any confirmation of this?
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