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Gold/Mining/Energy : Gold Price Monitor
GDXJ 114.64+1.2%Dec 17 4:00 PM EST
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To: d:oug who wrote (86679)6/9/2002 9:43:46 PM
From: d:oug  Read Replies (1) of 116815
 
...called a math wizard from another firm to sort it all out.
.
Gold share investors beware!
.
... received input on the Ashanti hedging fiasco.
It was so screwed up that advisor Goldman Sachs
could not figure out what to do with it even though
they were one of the banks that devised Ashanti's hedgebook.
They needed to call in a math wizard from another firm to sort it all out.
.
Subj: Adam Hamilton - Gold Stock Investing 101
Date: 6/8/02
From: LePatron@LeMetropoleCafe.com
To: dougak@fuzzymath.com
.
Adam Hamilton has served commentary
The Kiki Table entitled, "Gold Stock Investing 101."
.
"In his fantastic new "Gold Wars" book mentioned above,
Mr. Lips reports that once-strong Ghanan miner Ashanti Goldfields,
which was ruined in the sharp gold rally in September 1999,
had entered into no less than 2,500 separate derivative contracts
with 17 different banks!
As I have explained in depth in past essays, derivatives can..."
.
Adam is correct.
.
The gold derivative neutron bomb is going to blow
and it will be very dangerous.
.
This week in Vancouver I received input on the Ashanti hedging fiasco.
It was so screwed up that advisor Goldman Sachs could not
figure out what to do with it even though they were one of the
banks that devised Ashanti's hedgebook. They needed to call
in a math wizard from another firm to sort it all out.
.
All the best,
.
Bill Murphy
Le Patron, LeMetropoleCafe.com
Chairman, Gold Antil-Trust Action gata.org
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