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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: ahhaha who wrote (44001)	10/26/1999 11:55:00 PM
From: SwampDogg	Read Replies (2) \| Respond to of 116760

<<"They are priced on rational expectations for future earnings">> I totally disagree with that assumption. That idea is the center of the "efficient market" theory and it assumes that there is no such thing as selective disclosure. Also..the very reason that the market averages rise independently of bearish market breath is based on supply/demand. As far as derivatives go I do not think that it is a coincidence that the Yen has risen against the dollar for most of this year. The LTCM crisis and the rest of the Yen carry trades are in my view still being unwound. It is my belief that the same thing will happen with gold. <<"There is no problem in my argument because market value = cosmic value = physical value">> So the market value of EBAY is over 19 Billion=Cosmic Value of over 19 billion=Physical value over 19 Billion If the market cap gets cut in 1/2...what happens to the cosmic value of EBAY? Also...there is a huge difference between an option on a listed equity and a complex future carry trade. The former has little relevance and the latter almost ripped apart the world financial system last year.