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Gold/Mining/Energy : Position Trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: Derrick Burry who wrote (2095)	3/13/2000 10:55:00 PM
From: Greg from Edmonton	Read Replies (1) \| Respond to of 2259

I don't mean to sound hypocritical... but book values can sometimes matter, and yet they don't really seem to matter. Compare if you will, the past fiasco of PHV to the present situation of LDM and SK. What was PHV's estimated "book value" at the time? I can't remember exactly, but I'm sure that PHV has been trading below that stated "book value" for the last year or so. The fact that PHV or LDM or SK have very few industry peers with which to compare directly, does not really help matters either. What DOES seem to matter however in the here-and-now is the market sentiment towards the stock, which is reflected in its price. Be it on the PHV / LDM / SK / MEL end of the scale, or with WIN / RIM et al. Indeed the markets are a pretty crazy place nowadays. Bottom line, LDM price will be a tough one to call, because it is so greatly affected by market sentiment. Other prior examples worth mentioning may be JFM and LAN. If you get stuck holding LDM waiting for it to bounce, it could possibly be a very long wait indeed!