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Politics : Welcome to Slider's Dugout

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To: SliderOnTheBlack who wrote (5177)	5/4/2007 11:07:01 PM
From: Fun-da-Mental#1	Read Replies (2) of 50126

Slider, I don't think this is just speculation. Long-term, the price of gold has to cover the cost of replacing gold mine reserves as they are depleted, and right now it is not doing that. Gold mine output is falling as the gold price rises, an extraordinary situation. And I don't think the stock market is overvalued either. S&P 500 average PE ratio has fallen from over 40 in 2000 to 16 now. Look at all the buyouts now. The big boys would not be paying billions to take public companies private if they were overvalued. In 2000 we saw all kinds of IPOs. Now we are seeing buyouts and buybacks instead - quite a difference! The money supply is increasing and the supply of stocks is shrinking, so stock valuations should increase. Fun-da-Mental

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