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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Cogito Ergo Sum who wrote (15442)12/4/2002 8:47:30 AM
From: Tommaso  Read Replies (1) of 206347
 
Yes I bought some PWI just before it went on the US exchange. Will keep following it.

I do like the fact that with NCN at least there's nearly 15 years of performance to look at.

On the basis of my experience with US royalty trusts I would say that none of them should be considered immune to mismanagment and than you have to be ready to get out the minute it looks like it's turning into a cozy little bed for managment. Also, I would like to be more diversified than I am. Of the money I have in these things, about 90% right now is in NCN and about 5% each in PWI and ARC energy.

Of the US trusts I got into, two turned into excellent long-term money makers (PBT and SBR--I sold both early last year when they were very high). On a shorter term basis I also did well with BPT and SJT. But several that I bought simply vanished--two of those Mesa trusts set up by Boone Pickens, plus one called Freeport McMoran. I lost a lot of money on those. So just assuming that human nature and human ability is comparable in canada and the US, I would say that nothing set up by a human being is a sure thing. Beneath what one can learn from annual reports, analysis, prospectuses, and press releases there is a welter of excepetions, fine print, policicies and unforeseen eventualities.
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