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Gold/Mining/Energy : Royal Oak-RYO -- Ignore unavailable to you. Want to Upgrade?

To: Michael Bidder who wrote (1062)	7/17/1998 9:47:00 PM
From: Richard Gibbons	Respond to of 1706

I don't find anything particularly amusing about the fox guarding the henhouse. The main amusing thing was the irony of your protestations. It seemed to me that you were implying "of course they're ridiculous touters, they have a vested interest!" This might be a bit off topic, but I disagree with the statement "Naivety is giving way to a healthy scepticism. Investors will not buy into an investment based on the rosy predictions of management." It might be true with mining companies right now, but that isn't how I see the mood of the market as a whole right now, after a 7-Year Bull market. It really surprises me that you feel that way (or did you mean it to refer to just mining companies? If so, I misunderstood.) You're totally right that it is possible to come up with a scenario where RYO is just one big scheme to defraud investors of their money. The interesting part of this game is determining the probability of this scenario, and balancing the risk and reward. I think that your contributions are valuable in that they provide information about the risk side of the equation. (This might not be your thing, but suppose gold goes to $400, and copper hits $1.00. What do you see as the upside in that scenario? How about gold = $500, and copper=$1.20?) As for history, I have been on SI for about 28 months now. I don't post much (though more than what the search says... kind of curious...), because I lack the knowledge to make useful contributions and don't have much time. As for a history of my stock picks, at various times, I've lost money on Bre-X, GTW puts, MU puts, Asian CEFs, AOL puts, CPQ puts, SEG, and RYO. (BTW, I was totally serious and not a bit sarcastic about enjoying your posts. You make this forum interesting, and provide useful information. You both entertain and inform.) Richard