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Gold/Mining/Energy : Yamana Resources INC. T- YRI
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To: PSkars who wrote (1777)12/2/1998 12:42:00 PM
From: Abner Hosmer  Read Replies (2) of 2346
 
Phil, until yesterday, shorting mining stocks and junior explorers has been far more lucrative than shorting internet stocks. Anyone who tried to short Yahoo or AOL this year got scorched badly.

Your example of Bre-x and Delgratia works both ways. Those who picked the right moment to short got rich. It's not my game, but if it works for Liz or anyone else, more power to them. Fact is that far more of these companies wind up with jack-all than ever find a deposit.

Any way you slice it, to suggest someone buy gold stocks (or YRI) to benefit from a rise in the POG is to put them (or YRI) forth as a proxy for the POG. But to say that a rising tide will lift all boats tells us nothing about the relative sea-worthiness of any particular boat, and it doesn't tell us why YRI should float better than any other.

Far from denigrating the skeptics, I prefer to have a Devil's advocate on a thread. There is never any shortage of believers on these stocks, but there are very of them few that merit belief.

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