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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (6453)	12/29/2002 11:21:54 PM
From: que seria	Respond to of 39344

Mish: I don't usually buy or sell gold stocks with much attention to Q to Q or even Y to Y fluctuations in P/E ratios. They vary according to the usual factors and I can't correlate them (using public information, and not being in the business) with stock price in the ST, IT, or LT. There can be cost-driven price performance, but nothing I'm going to know until after it is in the price. I think an adept chart reader such as yourself will do better looking at charts of the seniors than at their P/E ratios; that is certainly what I do. I look at long term assets, blue sky (i.e., prospective ground and resources being drill-tested), management, money. I like, in order, GLG, GG, and NEM among what I think of as the seniors. GLG has and seems likely to add leverage from drill-tested properties. GG has just one mine, granting that it seems to be the richest in the world. Newmont has to spend a lot to replace production. It is good to be the junior that finds what others need to buy, without having to pay the cost of extracting it, so most of my gold stock money is in category 5 microcaps.