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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: Ahda who wrote (3374)9/20/2002 1:14:20 AM
From: Elizabeth Andrews  Read Replies (1) of 4051
 
I'm not saying there's no bubble in some markets but there's lots of places in the USA where things are not out of control. I'm saying that the baloney analysts that are forecasting a total collapse of the real estate market are wrong. There may be pockets where things got bid up to high but there's a lot of people who have expensive houses in LAX for example, who have very low or zero mortgages who don't have to do anything.

I was one of them. I choose to sell and move, which had nothing to do with my wage level or the price of the house. My ex-house may be worth less in two years but it will probably be worth more in ten years. Show me some stocks that you can say that about even after the beating they've taken.

Are we back to Buffett? Can we all do Buffett? I'm thinking that I'd like to hear what Ben Graham would say about today. So many stocks trading at below cash breakup with zero value attributed to the enterprise. What would he do and what would he buy? His main ally was accounting aspects. You would think that today would be a bonanza for him if he could rely on the accounting.

Can we rely on that now? His era was in a time of relatively slow technological change. Not true now, as a well capitalized business can go into the toilet if somebody else develops the next generation. Is this why Buffett stays with consumer driven companies?
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