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Strategies & Market Trends : Australian Shares and ADRs

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To: Tom who wrote (88)	9/26/1998 4:58:00 PM
From: Paul Corbett	Read Replies (2) of 96

I agree Tom. If you have bought Australian resource stocks you will do well long term. However resource prices may well be down for 1 to 2 years and it makes no sense to have a lot of your portfolio tied up for so long. There has been a lot of speculation that some Australian companies are takeover targets for US companies because of low prices, and we are talking even of the very big companies such as MIM and BHP...in the end if the world economy does recover the people who get positions now will be well rewarded. A very good gold company is SGW Sons of Gwalia which is profitable and fully hedged...I would not be surprised to see it snapped up soon by a North American company...one to watch. regards Paul

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