Did you notice Peter Lynch coming out in favor of gold stocks
in (was it) Worth Magazine November issue? I am sure that
it has been mentioned on the main gold threads. He was
basically recommending the big US mines if I recall.
I don't follow the gold threads cause I've been having too much
fun with the equity wreck, I bet there is some useful information
over there.
I did buy FSCNY, could of had it cheaper if I'd waited till Friday,
but this is a long term buy; I want some insurance. I also bought
some BMG, I've done well with both them and HL over the
years.
I'm also picking up old, foreign, bullion-priced, uncirculated gold
coins and stuffing them in my safety deposit box. They probably
think I'm a nut over at the bank by now. But I have always
collected coins, and I think this is a once in a lifetime buying
chance. I think that their low premium indicates that the
speculative buyers have been completely shaken out of that
market. Everybody who was afraid of inflation now has their
stash, and their aren't (yet) anymore buyers. When equities
lose their luster, gold will have its returned.
Economically, the current problem looks like deflation with
associated currency devaluations. There is no question that
the inhabitants of SE asia have seen the price of gold zoom in
their own currencies. It hasn't happened here, but if we start
to have a downturn I think it could, what with the Fed printing
green.
-- Carl |
