Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (69330)	10/17/1999 2:00:00 AM
From: Thomas M.	Respond to of 86076

Some more eloquent words from Jim Grant: Grant's Interest Rate Observer 30 Wall St., New York, N.Y. 10005 OCTOBER 8 ~ Tellingly, the gold rally has made little noise in the world. Too bad, as the world is thereby missing an object lesson in the power of unexpected events in leveraged markets. Not only did the gold price explode to the upside, but also-a new chapter in the gold bulls' Book of Job -- the shares of certain mining companies went down, not up, in consequence. Believers in a perpetual one-way stock market, please copy. During the long bear market, the barbarous relic had appeared not only to be sold out, but also washed up. Its investment futility was matched only by its monetary irrelevance. In this sense, gold has been the mirror image of the S&P 500. Whereas the former was demonstrably good for nothing, the latter was good (still is, in the minds of most, we should add) for anything and everything. -JAMES GRANT