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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: Ray Hughes who wrote (1193)	5/25/1998 7:46:00 PM
From: philv	Read Replies (1) \| Respond to of 8010

Ray: Just curious. Why Silver? Are you also following Gold? Phil

To: Ray Hughes who wrote (1193)	5/25/1998 9:28:00 PM
From: Tomato	Respond to of 8010

Ray, Good luck on the newsletter. I know that I'm in the do it yourself camp, and wouldn't be a subscriber. Here are some of the facts my reasoning is based upon: 1. 80% of equity mutual fund mgrs. underperform the S&P index. I believe this figure is a long term one, i.e. not just an aberration caused by the large cap stocks overperformance the last few years. This tells me that the so-called experts can't beat an index fund. And these guys tend to be pretty smart, too. Harvard MBAs and Wharton types are the ones who get the jobs, I do believe. 2. The mining newsletter writers out there are notoriously bad. Sudhir Khana might be an exception, but he doesn't have any track record that I know of to enable me to judge. 3. A good track record doesn't guarantee above-average returns. E.g. the Harvard guy whose name escapes me who worked for Soros, wrote Education of a Speculator, and was in the top 5 hedge fund managers for 5 years who lost all his client's money by doing something very stupid about 6 months ago- I think he maybe shorted S&P calls. Got totally wiped out. Anyway, as you can probably tell, I don't have a very high regard for newsletter writers. To me they are people whose goal in life is to transfer money from other people's pockets to their's. But you do have a good point about taking 10 years of mistakes to learn something- it took me about 10 years to learn how useless newsletters are! The one gold analyst with seemingly impeccable credentils, Venoroso, wrote two or three years ago when gold was around $350, I think, that the supply and demand situation was such that gold was going to go above $500/oz in the near term, if my memory serves me correctly. I have a 20 page analysts report from him that is very persuasive. I also had an impressive Fahnstock research report on Siskon Gold from about 4 years ago that rates it a strong buy and forecasts prices above $6. Last I looked, a few months ago, it was tradng at one cent. So, fie on newsletters, fie. Have you thought about making the money for your sailing expenses by following your own advice?