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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Paul Shread who wrote (7338)	2/7/2002 10:04:55 AM
From: Frank Pembleton	Respond to of 36161

Paul -- right know I'm trying to cope with the bid/ask spread of Tenke Mining -- for awhile this morning it was .43/.75 now it's tightened up to .435/.6 sheeshhhh... POG chart lookin' bullish too quotes.ino.com

To: Paul Shread who wrote (7338)	2/7/2002 11:07:34 AM
From: Louis V. Lambrecht	Respond to of 36161

Don't know about stock valuations, but yesterday in Tom Calandra's piece cbs.marketwatch.com , he reported Lassonde saying: "If gold goes to $350 an ounce, pre-tax cash flow (for Newmont) would be about $1.6 billion, or $4 a share on a pro-forma basis. So the stock would have to go between $50 and $60, based on 12 times cash flow," OK for me, I'll also check 12* cashflow from now on.

To: Paul Shread who wrote (7338)	2/8/2002 5:04:14 PM
From: isopatch	Read Replies (1) \| Respond to of 36161

<The market is chock full of analysts who have no ability to see beyond the present and to recognize real trend changes.> Would like to amend that just a tad, if I may Even among on "sell side" analysts on the street, quite a few have both the ability and insight. Know from personal experience that many won't speak out, because to do so would put their careers in jeopardy from voicing opinions contrary to firm policy. WS houses are very intolerant of such behavior. The reason being, it interferes with their primary role as well as that of the financial media: To foster an environment that enables the streets high paying elite corporate clients and favored fund mgrs to accumulate shares at market bottoms in their stocks and distribute those shares at market tops. This can only be accomplished via encouraging high levels of public fear at bottoms and rampant complacency/greed at tops. We're not talking about some temporary phenomena like a conspiracy here. W.S. and other markets throughout the world have performed this role for the ruling elite in society as long as public markets have existed!!. That's why I always emphasize the major difference between "sell side professionals" and the buy side work which is populated by fund mgrs and independent professional traders NOT employed by the big WS commission brokerages and investment banking houses. There are major exceptions like Bob Farrell and others. But fwiw, the more common career path to success in this game is to spend your 1st few years (out of college or biz school) benefiting from the training and then learning the ropes with a major WS house. The number of years varies with the talent and grey matter of the individual. But sooner or latter sell side brokers see what's really going on vs what the public is let to believe.<g> Once that epiphany occurs? Either you move to a buy side fund group, OR once you've accumulated the critical mass of capital necessary to do so, and don't need to sell advice as a consultant, or a newsletter, etc? You become an independent professional investor/trader . Interesting day today, wasn't it? Best, Iso