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Pastimes : Ask Mohan about the Market

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To: Zeev Hed who wrote (11456)	12/14/1997 7:15:00 PM
From: Tommaso	Read Replies (1) of 18056

Well, we will see. I remember about eight months ago saying that the absolute top for Arakis Oil looked to me to be about $10 a share after one did all the calculations. What's it at now? Even taking into account the vastly improved leach-heap technologies for extracting gold, if you consider that the price of the best T-bone steak in the Depression was 25 cents a pound, and that gold went up to $35 an ounce--well, you get a steak/gold ratio of about 1 to 140. The same steak now would be, maybe $5 a pound, so that might imply a gold price of $700. Ditto the expensive men's suit ratio. But you are right, in that no one should sell everything and buy ABX. A promising stock in a beat-down field selling at twice book value isn't too bad, however. I'd buy Intel at two times book.

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