TO ALL:
I personally feel there is still a goodly dose of skepticism out
in the market place. Part of it, although the circumstances are
totally and completely irrelevent, has to be the Bre-X and other
frauds that have received extensive press coverage. You know, the
false syllogism: "Bre-X was in the gold mining business. Naxos is in
the gold-mining business. Bre-X was a fraud, therefore Naxos has to
be a fraud." Hell, even Aristotle knew this type of reasoning was
bull do-do. But most investors are not knowledgeable and don't
care to be. Their broker friend calls and says, "Hey Joe, I think
we (meaning Joe) ought to buy some ABC- it's hot." So Joe buys some.
And if Joe says to his broker, "Hey, I've heard some good things about
a gold stock called Naxos. Should I buy some?" And his broker friend,
not knowing a damn thing about it--and not about to find out because he
is touting something else, replies, "Joe, you have to be nuts to buy
Naxos--Haven't you ever heard of Bre-X?" So subdued and intimidated
Joe does not buy Naxos. Isn't that the way it happens??? Poor Joe.
Credibility will take some time. A strong board and support from
investment bankers will certainly help.
Bob Goldstein
And to all the members of the tribe, L'shona Tovah---and to all you
heathens, we'll be praying for you! |
