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

To: The Vet who wrote (32299)	11/15/2004 1:39:47 AM
From: LLCF	Read Replies (1) \| Respond to of 39344

<Is it just me, or does everyone else see this oft quoted excuse, as nonsense?> No, it's not nonsense at all... <No investor including the pension funds are COMPELLED to buy anything,> Of course not... but if they're DYING to buy something but not allowed till its a listed NYSE stock, that's different. This is for real. <if they are not allowed to buy commodities then they just don't buy the gold ETF.> Or they might, because it's a NYSE listed stock... they point is they CAN. <Many don't buy stocks under $5 or stocks with MC less than $1 billion etc. So should the exchanges not be allowed to list a stock simply because the pension funds are not allowed to buy it? > That's right, we can expect the biggest of the big to start piling in well after gold has doubled from here and the ETF's fight they're criteria. NFG!!! DAK

To: The Vet who wrote (32299)	11/15/2004 3:51:29 AM
From: Taikun	Respond to of 39344

<This because pension funds are not allowed to invest directly in commodities.> The portfolios I looked at over the years in very large state, city, county pension funds as well as union, church, university and corporate funds included investments in oil and gas partnerships and mineral rights along with real estate portfolios. Of course they also invested in venture capital funds. None of these were listed on any exchanges and the objective of the Chief Information Officers of these pension funds was to benefit from asymmetrical information in these private markets. We're being fed an excuse.