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

To: SliderOnTheBlack who wrote (61385)	11/27/2000 5:16:24 PM
From: long-gone	Respond to of 116760

From Bloomberg: Meriwether's Fund-Raising, Returns Short of Targets Greenwich, Connecticut: John Meriwether, the trader who presided over the rise and fall of Long- Term Capital Management, is less than halfway to the $1 billion he hoped to raise for a new fund and is falling short of returns he targeted for investors. Since he opened JWM Partners LLC, almost a year ago, Meriwether's Relative Value Opportunity Fund climbed 12 percent, after fees, between its debut Dec. 15, 1999 and the end of October, according to people familiar with its performance. While that's on par with comparable funds, it's short of his target of 15 percent to 20 percent a year, after fees. Peter Rosenthal, a spokesman for the fund, declined to comment. Meriwether manages about $438 million in assets, up from $250 million when the fund opened. The firm is housed in the same Greenwich, Connecticut, offices as Long-Term Capital and includes several of its former partners, including Eric Rosenfeld and Victor Haghani. People familiar with the fund estimate it would need about $600 million in assets to cover expenses solely with its 2 percent management fee. Amassing $1 billion from investors could be tough, analysts said, even without the stigma of losing $4 billion in 1998.

To: SliderOnTheBlack who wrote (61385)	11/27/2000 7:41:46 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 116760

Slider: My overly cautious attitude towards gold reflected the fact that recent action differed from previous bottoms. Only in the last few days have gold stocks started to outperform gold. But I did step up to the plate as soon as this outperformance got underway. BTW wasn't it great to see gold's arch enemy -- Goldman Sachs -- issue a sell recommendation on gold stocks just before today's takeoff. May this be just the beginning of their travails in the gold market after making a mint at the expense of gold miners and gold mine shareholders.