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To: Chuzzlewit who wrote (112864)	3/27/1999 1:44:00 PM
From: Lucretius	Respond to of 176388

no, we are in s-t treasuries for the most part. Our job is to find start-up or expansion investments w/ a potentila of huge returns. We just don't like the economic evnvironment right now and feel that it is better to sit w/ cash so when things get bad we can buy up good businesses on the cheap. we do have investments in a few public gold co's in the partnership and have actually made investments in a few struggling juniors recently as they needed cash to stay afloat (this is the type of bottom type situation when businesses are cheap). Because of gold co's leverage to the POG, a small portion in a portfolio can save it in the case of a currency devaluation. The dollar is headed lower, I guarantee you that... the only question is how fast it drops against the yen.. ie- how fast do the Japanese let it fall. There's a reason that the CRB is going bonkers and the bond mkt is crashing, Chuzz.... but alas I have tried to expalin that to you before. My positions in gold stocks and Japan are my own and not part of the partnership.