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Gold/Mining/Energy : Gold Price Monitor

GDXJ 107.29

-0.9%

4:00 PM EST

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To: Bobby Yellin who wrote (10677)	4/26/1998 12:05:00 PM
From: Terry Rose	Read Replies (5) of 116791

Bobby, I suspect when the current mania either runs out of steam or crashes and burns, the amount of fraud committed by some of these brokers, mutual fund managers, and/or hedge-funds will be an eye-opener. These investment brokers are under tremendous pressure to maintain 15-25% annual returns which the investment public perceives as a reasonable return. If they can't provide it, investors will transfer to someone else. An example of fraud committed by a large U.S. mutual fund in this cut-troat environment happened last summer during the Asian stock market meltdown. With the losses escalating this fund which also has an international fund chose not to book their losses. Instead they marked the value of these Asian stocks at what they considered their perceived value, and not the current market value at that time. Also, some of these funds are borrowing money to buy stock in order to support stock prices and/or pay redemptions during market corrections. This may explain why the stock market has not had a serious correction over the past few years. Terry,

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