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To: Haim R. Branisteanu who wrote (74969)	3/2/2001 10:34:38 PM
From: pater tenebrarum	Read Replies (4) \| Respond to of 436258

Haim, it is precisely because no-one appears to believe in gold anymore that i like it. it has compelling fundamentals as well...namely, a big structural deficit and a huge short position. and regarding the honoring of puts, i never had a problem so far...and in the '87 meltdown, listed puts were honored too. the gold stocks are a claim on the underlying businesses and assets...if and when gold rises, they will rise too. that's really all there is to it. i'm not in them primarily because i think them to be meltdown insurance, but because they are cheap. gold rallies do not necessarily require crises to get started and keep going...mostly they require a weaker US dollar, and that i believe is in store in coming years.