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Strategies & Market Trends : Bear!
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To: Lucretius who wrote (63)5/4/1998 11:45:00 PM
From: James Clarke  Read Replies (1) of 271
 
Don't like gold. I see no intrinsic value. Its only worth what somebody thinks its worth. And I don't know what to think its worth. I'd rather find a cash flow stream I know how to value, whether it is a bond or a business.

In other words, I think gold is by definition speculative. This is exactly the opposite of what many value investors think.

If you heard Buffett's analysis of silver in his press conference Sunday, he provided a case that there is an intrinsic value for a metal, using an elegant analysis of both supply and demand elasticity to price.
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