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Strategies & Market Trends : Strictly: Drilling II
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To: SliderOnTheBlack who wrote (15067)7/2/2002 4:31:10 PM
From: Art Bechhoefer  Read Replies (2) of 36161
 
>>I can't believe that the average Wall St Money Manager can't move far enough outside the box - to have reaped huge rewards via this recent move in Gold Stocks<<

I hope you're not putting me into the category of the average Wall St. money manager, since I don't work on Wall Street, or anywhere near the place. As for leverage, one can easily get as much as desired through margin accounts or options. Now you've got NEM trying to find a way out of a potentially costly lawsuit over a mercury spill at its mine in Peru. Isn't that kind of risk at least as bad as what is affecting some of the telecom stocks?

The thing is, there are telecom companies that have good cash flow, low debt, or often no debt whatsoever, and good long term growth prospects. Some of these companies are selling below book value. Why isn't that kind of asset play as good as gold, given the premium prices one pays for gold or gold mining companies? My preference for certain telecoms definitely ISN'T what Wall Street prefers now.

Art
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