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Gold/Mining/Energy : Barrick Gold (ABX)
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To: russet who wrote (2574)5/9/2002 10:40:23 AM
From: tyc:>  Read Replies (1) of 3558
 
Yours was a great posting, russett.

However, leaving aside all the BS, if we look at the subject in isolation, we find that Barrick has been selling borrowed gold and investing the proceeds in (inter alia)"corporate bond funds". They propose to change now and simply leave the proceeds of the sale in the bank.

Do you really think this is a smart thing to do ? Do you really think that the market should reward this acumen with a higher PE ?

Have you ever heard Barrick say before that they were investing in "corporate bond funds" ? If not, why not ? Why all the BS about "premium gold sales", when in fact the premium was simply the proceeds of investment in bonds of various calibres ? If that is what it is why didn't they say so ?
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