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Gold/Mining/Energy : Precious and Base Metal Investing

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From: 22jt	10/24/2004 2:41:14 PM
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From BMO Basic Points Basic Points An Investment Journal Donald G. M. Coxe Global Portfolio Strategist, BMO Financial Group corporate.bmo.com page 32/34 First 3 out of 7 "INVESTMENT RECOMMENDATIONS 1. Increase your overweight position in gold mining shares within the commodity content of your equity portfolio. Use new money investment funds for golds. 2. Maintain your overweighting in oil, gas and coal stocks. Winter is icumen in. 3. Maintain your overweighting in base metal and steel stocks. Last week's brief bloodbath in these shares showed how the commodity funds can briefly drive metal prices above trend, and then collapse them in panic. The commodity funds who report publicly have collectively achieved the seemingly-impossible: they've had negative investment results during the greatest year for commodities in 22 years. So their dumping of the metals last week was not an illustration of a bursting commodity bubble, as some reporters delightedly claimed: it was another illustration of the folly of commodity fund groupthink. ..."

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