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Strategies & Market Trends : Strictly: Drilling II

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To: isopatch who wrote (18718)9/12/2002 11:56:07 AM
From: terry richardson  Read Replies (3) of 36161
 
Iso… Hi!… good morning… just, Currently 85% unmargined PM’s & 15% cash.

Confess to owning a starting position in SWC which I recently doubled up on. Currently aggregate is 11% underwater. Physical in possession is impossible due to delivery charges, freight etc. Have been looking closely at Perth Mint program and currently researching Swiss bank options for buying and storage.

Precious stones would have an allure if I was close to the production end and could broker something somehow but as an investment I feel they should be purchased for the adornment of ones significant other thereby enabling one to spend inordinate amounts of time on the internet learning and seeking the next opportunity.

Incidentally I just read an interesting piece on Barrick’s hedges entitled “In Defense of Gold Hedging– The Case of Barrick” which is very readable and would be very useful to many of the lurkers on the thread as a basics on hedging and spot forward contracts etc. both generally and with specific reference to Barrick.

Located here: mips1.net

Click on the BarrickHedge.pdf icon to download.

Ouch! Who just whacked gold spot while I was typing?

Regards

T.
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