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Gold/Mining/Energy : Barrick Gold (ABX)
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To: TLindt who wrote (216)12/3/1997 8:12:00 PM
From: Michael July  Read Replies (1) of 3558
 
Thanks for sharing. Any interest in Euro-Nevada or Franco-Nevada? They are mainly a royalty play but are high quality companies IMO. As John Templeton has said, buy them when no one else wants them. He also has been quoted that if you want average performance, buy what everyone else is buying....but if you want superior performance you have to bet against the crowd. I would add to this, buy quality at least initially, as they have a much better chance of surviving a storm like this. In my book ABX and NEM are quality gold stocks.

Gold stocks certainly are oversold by any yardstick, but they have also been that way for months now. Most of us won't know when we've hit bottom till we look back in the rear view mirror. May begin nibbling soon. Wonder how long tax loss selling will last.
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