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Gold/Mining/Energy : Barrick Gold (ABX)

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To: Jim McMannis who wrote (844)	11/24/1998 12:29:00 PM
From: ahhaha	Read Replies (1) of 3558

I thought I was clear on that subject. Nothing has predictive value where the world under consideration is inherently unpredictable. One can only know the instantaneous state with reasonable certainty. That tells you nothing about tomorrow's state. Random processes can be biased by material forces. That's what fundamental analysis attempts to assess. That too is vulnerable to fluctuations great enough to take the time series data sufficient number of standard deviations from the mean that the entire investment thesis is called into question. If you invest with the objective of having good companies whose products are interesting, you'll find you random walk to ending up with money. If you invest in stocks with the intent of making money, you will neither end up with having had a lot of fun nor will you end up with money. By the way the golds are failing to break down which seems to be the amateur and professional view. If you're trading, the T-bond is well correlated to gold. This implies that gold is gradually getting back to its traditional role as the FED pumps daily more and more. Like in daily coupon passes. The long bond buyers must be getting a little nervous at the margin. It's come to me, baby.

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