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Gold/Mining/Energy : Precious and Base Metal Investing
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To: russwinter who wrote (18863)9/1/2003 10:24:30 AM
From: austrieconomist  Read Replies (2) of 39344
 
Russell/HUI/gold/gold stocks. Thanks for your comments. I am not an authority on Russell any more than anyone else (although I have been reading him since 1973) and this is not a Russell thread. jrhana has posted what are the fairly relevant points (18869). He does advise PM stock positions although they are an adjunct to his beliefs on the gold price -- that gold is money, currencies are fiat, and that we are entering a long cycle of unknown duration that the world's investing population is recognizing the difference and will be shifting out of currencies and into unleveraged hard assets including gold. He does not believe, as many on this thread do, that it is advisable to trade in and out of the stock positions -- the risk of trading out of the long trend is too great. I think that many on this thread are the exceptions. For myself, however, I will stay invested for the most part and only cull the weakest stocks from my PF during "overbought" peaks, such as now (names that I am culling are CDU, overweight position in RDU, TNK and SJD. I will be looking at IVN ... it has been a nice ride from C$3... to possibly reduce an overweight position around September 9 to coincide with Friedland's appearance at the New York Gold Show). No new adds at this time.
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