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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: marginmike who wrote (105617)	9/28/2001 12:08:40 PM
From: Jordan Levitt	Read Replies (1) \| Respond to of 152472

Mike, I think that comparing the way Q* was seen to the way gold is now seen is bit of an erronious comparison. Gold may well be the home run you hope for, however, if we have the massive unwinding of paper assets that you foresee, I have a hard time figuring out where the demand for gold is going to come from. In the end, there has to be a consumer. If everybody is poor, they don't need jewelry. Then they must only want it as a store of wealth (ie hedge against inflation), or as something they can take with them if they need to run in a hurry. IMHO, the big bad days of $800/ounce gold was itself a bubble. A big one. I can remember people lining up on Bay Street here in Toronto to buy gold bullion. It was frankly an awful lot like the tech bubble. As for inflation, there is an awful lot of excess capacity out there, and despite the current liquification of the system it is going to take some considerable time for the demand to grow to where capacity is in any way constrained. I know that this is not a common viewpoint, however , I actually have a much greater fear of deflation (which would be consistent with the unwinding of the credit bubble that you mention). Who kows how it turns out...so long as we can make some money along the way. Cheers !