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To: GVTucker who wrote (58963)	4/15/2002 11:45:16 AM
From: Ed Forrest	Respond to of 77400

GV I think that the 12% difference between 8.0% and 7.1% compounded over 30 years is hardly "not much different". Sounds like anything but trivial to me. Ed

To: GVTucker who wrote (58963)	4/15/2002 1:06:22 PM
From: Wyätt Gwyön	Respond to of 77400

30 years ago the price of gold was $38. well, but what if your time horizon started 22 years ago? we are all at the mercy of history. and couldn't you make an argument that 30 yrs ago the price of gold was artificially depressed. e.g., weren't banks still honoring the $35-gold/dollar exchange rates for their transactions. the unmitigated disaster seems to have been in the mining stocks, which are still way off their highs of 1980. similar to unmitigated disaster in certain bubble tech stocks whose main business was printing shares. The only reason the S&P has done better than gold is dividends, which in 1972 were a bit more than 3%. that won't help much going forward, with the dividend yield near historic lows.