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

To: yard_man who wrote (29758)	5/21/2004 5:37:06 PM
From: TheSlowLane	Respond to of 39344

tippet - Coxe addressed this point directly on the call today. He said: "So I will come back to my basis thesis which is that the basic materials, which have been victims of the two-decade long triple waterfall which squeezed producers and eliminated marginal production and so this still is a broad based move, on a year over year basis they're up substantially. And if you look at that chart [$CRB], you'll see that on a year over year basis, even with the sell-off, the CRB is up a heck of a lot better than stocks are. So, no I don't think it's time to throw in the towel, but I'm just cautioning you all to have a healthy skepticism about people who have ignored this asset class, or despised it or ridiculed it, who now come in and say 'Well, it was this big blip that was based on two stories that got overdone which was the Fed was printing money like mad and China was growing at a cancerous rate - so those stories are over so forget about it.' I don't think that's the case."