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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM -- Ignore unavailable to you. Want to Upgrade?

To: GlobalMarine who wrote (5705)	9/18/1998 7:11:00 AM
From: Richard Mazzarella	Respond to of 11603

Rand, <<true and infallible judge>> I totally disagree. In a perfect and an efficient market your statement is true. Was IPM or Naxos worth $10 when they were at that price? Speculative stocks are rarely properly priced. The concept is to find stocks where perceived value is poor, where nobody wants them, then they are cheap. However, the trick is to find those stocks where one understands that the situation is only temporary and that conditions or perception will change where ownership is desired. One can always find stocks properly valued in the "efficient market", but don't expect multiples, just a normal market appreciation. I'm in MXAM to become filthy rich, I have other stocks, "efficient market" stocks, to pay the bills. Diversification.