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To: LLCF who wrote (14692)	2/9/2002 11:07:47 AM
From: Moominoid	Read Replies (2) \| Respond to of 74559

I might have a 5% NAV exposure to gold stocks, but I'd need to go check what the fund managers allocation is. I don't pay attention usually and they only let us know once a year. But I remember global resources fund was about 30% gold and the small cap funds had about 15% resource stocks of which again 30% might be gold. You know back in 1980-1 when the gold price was soaring I was very interested in gold - I got brochures on Krugerands and things. Luckily I didn't have any money to invest (maybe I had enough for one Krugerand - I was only 16) or I would have lost it :)

To: LLCF who wrote (14692)	2/9/2002 10:54:52 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

<Interesting to note that all this is occuring at a time when virtually the entire western world of investors has sold their investment holdings of gold over the years. Investment in the sector is virutally zero in the average portfolio.> With only $100 billion or so of it in the USA, and not a great quantity around the world, it's always going to be virtually zero in the average portfolio because the world's capital markets are multi trillions worth. Gold can never be more than a marginal metal for a few gold bugs to use as an escape hatch when they guess that something's going to go wrong. Gold can form another bubble, as 20 years ago, but as Snowshoe's buddy found out when buying at $800, any buyer might be the Greater Fool [in the Greater Fool theory of life in the expansionary universe of Bubbleonia where pea-sized universes are expected to be infinitely larger later]. Mq