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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Big Dog who wrote (12192)	8/15/2002 10:08:13 AM
From: Big Dog	Respond to of 206317

Also from Salomon: Views abound as to the state of the broader equity markets, but as one of SSB’s technical analysts recently noted, “investors discover a phenomenon that inevitably occurs in structural equity bear market declines: that a company and its stock can part ways”. We believe that we may have witnessed this phenomenon earlier this year with the group rallying in the face of eroding fundamentals (for reasons we think we understand but will not go into here), and more recently in the opposite direction. If, in fact, we have seen and will continue to see stocks separate from the fundamentals, it makes for treacherous investing. However, our review of past performance suggests that this group will do better than the broader market if economic activity begins to rebound – and will do worse than the market if we see further economic weakening. This is not an irrefutable conclusion but is accurate when considering the last 12 years. Given our firm’s base case assumptions for a firming global economy, we expect the group to outperform.