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To: Bid Buster who wrote (414)	3/2/2007 4:16:21 PM
From: stockfiend	Respond to of 1718

Agreed. I think many of the gold bugs mistook rising gold prices as the fulfillment of their long-term thesis rather fully appreciating the influence of hot money. It'll be interesting to see what the POG does from here.

To: Bid Buster who wrote (414)	3/2/2007 5:48:38 PM
From: SouthFloridaGuy	Read Replies (2) \| Respond to of 1718

<<BTW, you hearing any trouble in other firms within your industry?>> Nope. The guys I know have made out like bandits: the smart trade was go to long CMBS and short RMBS. But then again, it matters who you chill with. Equity guys are all over the map as usual. If March is bad (it's off to a wonderful start <g>), that will be more telling. Now in all seriousness: I think some structured credit guys are getting hurt. They were buying BBB- paper of say 2005 vintage thinking that it was "safer" than say the 2006 vintage and that there was "mispricing". Yea no shit, but but that doesn't mean that the '05 paper was worth anything near what you were buying it for<g>. This isn't LTCM or anything like that. But it's gonna hurt a lot of people - almost as much as for those who held Amaranth - because it's indicative of just how non-correlated your portfolio is versus Amaranth which was a one-off event of somebody messing up the weather forecast <g>.