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Gold/Mining/Energy : Barrick Gold (ABX) -- Ignore unavailable to you. Want to Upgrade?

To: russet who wrote (3292)	1/16/2003 7:27:47 PM
From: Elizabeth Andrews	Read Replies (1) \| Respond to of 3558

Arbitrage plays are created over and over again by fund managers who behave like well trained sheep. John doesn't like it because Henry doesn't like it because Donald doesn't like it and they're all from the same school of investing. Henry says, "I can't go to cocktail party and confess that I own Barrick! What would my peers think if every knows that everyone is negative on Barrick because everyone is negative on Barrick and I own it. I wouldn't belong would I? Shit I have to own Goldcorp, I guess, even though I think it's overvalued relative to Barrick?"

To: russet who wrote (3292)	1/16/2003 8:39:17 PM
From: Tommaso	Respond to of 3558

Thanks, Russett, that is a pile of information and analysis to digest but I will work on it. Actually I have tried to avoid hedgers anywhere. My biggest natural gas holding by far is NCN, which is only about 5% to 10% hedged, and soon (within six months) may be unhedged. But they are also leveraged, so that goes against hedging. Having lost a good bit of money (and made some) on obscure oil companies, I think I do prefer to stick to those gold companies with some exposure, if only because they attract more penetrating analysis. The higher the price of gold gets, the more rapidly scams are going to proliferate. So,yes, I do think I will stick mostly to companies listed on major U.S. exchanges. Will study your post again in the morning. Thanks.