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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (66972)	7/27/2006 3:48:22 PM
From: Wyätt Gwyön	Read Replies (2) \| Respond to of 110194

back in 2003 or 2004, when NEM was first hitting $50 (and Richard Russell was hooting about buying it that day, which marked the top), POG was around $400 or so and NEM had a 50 PE. now, gold is more than 50% higher and NEM still has a 50 PE, and the price is still $50. and these guys are supposed to be the best in the business. just goes to show what a horrible business gold mining is. of course, selling shares in a gold mine to the public has long been a great way to become rich--for insiders. just like tech companies. i prefer Canadian Oil Sands, where they make real money and pay real dividends. i think eventually when the stock bear market runs its course, one will start to see appreciable dividends coming out of all sorts of companies, not just hated sectors like energy. even companies in fashionable sectors like gold mining and semiconductors will have to pay the piper.