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

To: Rarebird who wrote (50756)	3/27/2000 11:19:00 AM
From: LLCF	Respond to of 116786

<The great speculators in the financial markets are betting that Greenspan will succeed again. One need only look at the POG, along with the current valuation of the S@P and Nasdaq to see that this is the case.> Although it amounts to the same thing, I would submit that most holders of S&P [etc] are unwitting believers in the status quo. This is probably what accounts for the slow 'battle ship turning' reaction during market turns. As many have stated, don't expect to wake up one morning with a guy on the news announcing the bull market in stocks is over and gold is beginning. A large portion of current gold holders will be out and waiting for the correction during some of the largest run ups as the current thinking unravels slowly like a train wreck in slow motion. DAK

To: Rarebird who wrote (50756)	3/27/2000 1:32:00 PM
From: LLCF	Read Replies (1) \| Respond to of 116786

I like this one from John Hathaway: "Gold equities are exceptionally cheap at the moment. According to the respected research team at Scotia Bank, they currently trade at a discount of 18% to net present value, an unprecedented low valuation, even before the September 1999 rally. Because of the lengthy gold bear market, exacerbated by hedging and short selling, shares of gold mining companies, not surprisingly, have ranked among the worst performers over the last twenty years. The global market capitalization of the industry is less than $50 billion. The market cap of one high tech company, Qualcomm, has gained and then lost this amount in the last six weeks. Industry earnings are all but non-existent apart from hedge book profits. Financial staying power for many companies would be in doubt if the gold price remains depressed. Concerned senior executives are considering how they can engineer a reversal of fortune from a near evisceration of shareholder value." DAK