Well, i've never called them a snake, so that makes you and me and Bob Johnson exceptions from 'everyone' -g- .... i don't think they've exactly aided the health of the PoG in recent years, virtually inventing hedging on the scale they do it, but in so doing they may have accelerated a cycle that was already in progress and would have happened regardless, just more slowly that's all .... i dunno, can't pretend to understand this stuff, end up not caring deeply </shrug>, and my gaze shifts to the charts
... and that of abx is sick - stockcharts.com
End of story on the buy/hold/sell/ignore question, far as i'm concerned, in favour of 'ignore' .... only one reason to go long golds imho, is when a person is relatively convinced that the PoG is about to rise within a reasonable fraction of his remaining lifetime .... i am so convinced .... 72/28 gold goes up from here in coming months/years, i call the odds ... so, in light of that and the fact that i have but a fraction of net worth in the sharemarket in the first place, i look for gearing, or as Enigma just pointed out on the abx thread as NA vernacular, 'leverage'
Not much leverage in abx .... 539 millions shares out .... how many ounces they've got net of their shorts, i forget, but i rather suspect you still don't get an impressive number of grammes per share .... true enough, the brokers will let you buy the thing with thirty per cent down, which improves gearing, but you still have to pay interest on the margin, this is fine for short-term trading strictly following one's perception of the 15-min chart, but a killer for buy-and-hold or even medium term position trading .... compared to like, an fn.to or suf.to*, i mean
And there's no sport in playing abx .... boooring ... you're not compelled to follow the story, feel those great rushes of fear/greed on mornings that good/bad news/rumours come out .... i suppose this is argument for juniors as opposed to majors, and essentially an expression of personal attitude ... sure it is, well so be it, i like better the X-Cals and Conquests than the Barricks, fact of life
* - suf.to - i was just catching up on stockhouse, found this [you think suf has a crack at getting re-indexed this time around?] [when it was de-indexed (in favour of some dubious tech high-flyer now long gone, lol), it had a much lower market cap than currently, as i recall] -
' Toronto, Ontario, Friday, September 13, 2002 - Standard & Poor's advises that the results from the S&P/TSX Composite Index Quarterly Review will be released after the close of business on Monday, September 16, 2002. This is pursuant to index methodology which states that the results of the Quarterly Review shall be announced within the first 10 business days of the month. The methodology is available on www.spglobal.com/indexmaincanada.html '
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