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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

To: KRosenfeld who wrote (8280)	1/18/1998 3:26:00 PM
From: Larry Brubaker	Read Replies (2) \| Respond to of 20681

<<Hence, I have only put up risk capital, money that if lost will not change my life at all.>> Ken: IMO, that is the only way to play any of the dirts right now. While I took a pretty good hit with IPM, it was also my risk capital at stake. My retirement funds are (safely?) tucked away in much less risky investments. I feel sorry for those who claimed to have borrowed money to invest in IPM. One of the things that IPM investors used to point to as a good sign was the amount of instutitutional ownership of the stock. The Capital Guardian family of mutual funds owns over 10% of IPM. My point on that was Capital Guardian's 10% ownership of IPM amounted to less than one hundredth of one percent of their total holdings (even when IPM was at $8). While they had a large stake in the company, it was a miniscule portion of their total holdings. My investment was somewhat larger than .01 percent of my total holdings, unfortunately, but not enough to put me out on the bread lines. Obviously different investors have different risk tolerances. As long as you are comfortable with yours, knowing that you can't DD a black box, I say good luck to you.