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Gold/Mining/Energy : GOLD-XAU -- Ignore unavailable to you. Want to Upgrade?

To: IVAN1 who wrote (1464)	4/26/1998 5:30:00 PM
From: ahhaha	Read Replies (2) \| Respond to of 1756

If you've had more than several years experience holding stocks, you can buy gold stocks. Don't trade. Just buy HM and hold. You don't have to buy gold stocks. You don't have to buy anything. No one likes cash, but it's great to hold a big pile even if industrial stocks are roaring upward. You retain flexibility. I'm not big on interior decoration and diversified portfolios. If you buy what you think will rise and never sell, over time the paranoia of every era will get you well-diversified. There is no reliable linkage between gold and industrial stocks. In some eras they seem quite anti-correlated. If A is well-correlated to B, and B is well-correlated to C, does that that mean A is well-correlated to C? Correlation is not necessarily an equivalence relation. Y2K has the significance to gold that a fly does to a horse and isn't correlated to gold. Y2K might have some small consequences, but everyone has had years to prepare and they are preparing. If you disagree, I've been programming for 20 years and am immersed in all of the computer flood, so demonstrate to me why Y2K is so cataclysmic. This is not the stuff upon which big trouble is built. We are talking about profound economic changes that are nowhere tangible anywhere. If they were even infinitesimally tangible, the DOW would drop at least 1000 points in a day. Everything I'm talking about is theoretically potential, it isn't evident and there is no reason why humans can't do simple and painless things to prevent any of it from occurring. It just has been the history of humanity to fail to do those little things. If you're this deep in the stock market, I recommend doing your own investment selection. You have just as good a chance as anyone else including Lynch and Buffitt. The secret is to never sell. Buy more of what you own if it is rising or buy something else or hold cash.

To: IVAN1 who wrote (1464)	4/28/1998 9:26:00 AM
From: Jim McMannis	Read Replies (2) \| Respond to of 1756

I have to dissagree with aahahha about buying and holding HM. The time will come when you will have to sell to protect profits. A buy and hold mentality for gold has never worked. Since gold stocks are generally a homogeneous group a mutual fund is not a bad idea. Try USAA Gold, USAGX, American Century/Benham global gold, BGEIX or the more volatile Lexington Strategic Investments, STIVX. The later is more likely to give the greatest return in a good gold bull move...but more volatile. Jim