Hello Pezz, <<"I told you so">> Well I did, but that was not the point. The point was to give you an opening by this taunt <were you just too busy to attend> so that you would do exactly as you did, by replying <<Nonetheless I continue to have fun and make money doin what I do>>.
In any case <<amazed>>, I believe
(a) as you do, gold mining company shares is highly leverage on gold price, especially given the gold price to extraction cost (incl. depreciation and depletion) ratio that exists now;
(b) Institutions, not worried about end of tail events such as government confiscation, typically do not take physical delivery, and so buy shares instead;
(c) Folks may still be worried about Central Bank intervention - the Russian CB said they would be selling some of their reserves day before yesterday, and the market automatically concluded the Russians were talking about their gold, whereas the Russians later clarified they were talking about their currency reserve:0)
<<RAD ... too slow an boreing>> That is why one is suppose to buy the season ticket, and then leave the stadium, meander over to the gold pit, until it is time to snack at RAD.
<<heavy in the margin dept>> You are brave!
Chugs, Jay |
