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Strategies & Market Trends : G&G's Riding Lawnmower thread -- Ignore unavailable to you. Want to Upgrade?

To: Lost1 who wrote (1286)	7/28/2000 7:43:37 PM
From: Jorj X Mckie	Respond to of 4966

Think about it....gold only has nominal intrinsic value. Other than a small percentage that is used in electronics and jewelry, the only explanation that people can come up with for it having value is that it has always been perceived as having value for trade. No real expectation that it will gain any usefulness that would make it a great investment, just that people are willing to accept it as payment for stuff. How is that any different than...let's say EBAY? Take a look at CSCO and NEM...both have triple digit P/Es, but which one is really changing our culture and our business practices and which one is strip mining our beautiful landscape for specks of a shiny metal that nobody gives a crap about? finance.yahoo.com Disclosure: I am long both NEM and CSCO. All the time that the clowns have been bitching about high p/e tech stocks, they have been investing in miners that are heavily leveraged and have equally high p/e ratios too. All in the hopes that the price of gold will go up someday and carry their stock with it. Kinda like the hope that many of these dot.coms would someday turn a profit. I don't have a problem with speculation....I love it as a matter of fact. I just find it amazing that those that criticize the people that play the internet stocks, don't see that they are doing the same thing playing the gold stocks. If gold stocks are to be the next dot.com speculative play, you can bet your ass that I will be there buying like crazy and selling naked calls and using margin. .....all in moderation, of course <g>