Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Snowshoe who wrote (63911)	5/17/2005 2:21:54 AM
From: Maurice Winn	Read Replies (2) of 74559

If I remember rightly, I think TJ shorted housing about last September. Let's see how that went... moneycentral.msn.com Oh, crikey, from about $30 a share up to about $50 a share. Not a very good short, even though it was a no-brainer. As you infer, there is a serious energy production cost in oil, so existing gold goes up in price, and the production cost of gold goes up, so the miners don't necessarily get rich from the rising price of gold as it costs them a lot more to get the damn stuff. When the price of oil falls, and the world's economy is back on track, with interest rates back up where they belong, the 'safe haven' of gold will be looking like a dead end and prices will drop as people abandon it in favour of assets which actually do something useful. Mqurice

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