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Gold/Mining/Energy : Barrick Gold (ABX)
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To: Bat Man who wrote (2848)5/18/2002 11:30:10 AM
From: nickel61   of 3558
 
Thank you Elmer, I haven't heard from you in a long time. Thanks for the encouragement. It is a complicated web of accounting gimicks that they have constructed exactly because they didn't want anyone to understand it. Kind of like the Emperor having no clothes. When you put it into simple terms it seems absurd. They sell their own production and they get money and put it into US Treasury notes and make interest...boring...but do the same thing off the balance sheet where no one but your bankers can see it and claim "higher then market sale prices year after year" and all of a sudden your actions which are actually preditory to your competitors and disingenuous to your stockholders seem somehow "smart". Reverse their bs and you can see that the market would see through it in a second.
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