Magnifique -- thanks for the comments. As always, we have two perspectives on the thread -- the market timers and the long term holders. I am one of the long term holders...who just doesn't like the stomach twists of trying to market time. Sure -- could've made a killing selling on the highs and buying on the lows (and must admit using my margin account to do so and making a nice bit of change)....but as FLIP points out in the Reuter's interview, plat is now going for about $1bln in sales this year. And with the current market cap, that is just about 1x annuals sales, while its peer group is trading in the 5-7x annual sales range. So, I personally buy on the dips. After all, I've been here since the 9 7/8ths days, and am -- on a net basis -- very, very happy...and believe, come the end of this year (or perhaps even by summer) will be even more happy. But as a speculator, I would, personally, be upset...true. In the end, it all helps the long term vision, and I applaud it. Just my opinion. But appreciate, as always, your reality check for the short to near term!
Cheers,
Richard |
