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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 408.23

+2.3%

Dec 22 4:00 PM EST

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To: stockycd who wrote (13450)	4/26/2008 8:34:27 AM
From: jrhana	Read Replies (1) of 29622

That would make sense, but I am definitely think about jims words here: <The greater issue for miner owners is whether they are the appropriate vehicle for inflation hedging. Going way back to the 70s they were about the only game in down outside futures markets which ladies and gentlemen didn't discuss, much less trade. In the 90s and even early in the 21st century bull market there were few direct inflation hedge plays for the average and even institutional investor through equities ...Now there are all matter of ETFs, close end funds (and stocks) that offer a targeted play on the inflation issue, whether it be fertilizer, oil, grain prices, natural gas or livestock prices... Miners have high valuations relative to earnings, which it will be argued is not how they are valued; but their cost structures are pressured by increases in base commodities and fuel which in many cases are rising faster than their end product. Additionally, the financing problems brought about by the credit crunch seem to land right at the miners door steps.> Message 24534876 The miners used to be the only game in town. Now they may have become a bunch of obsolete dinosaurs.

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