Forum Archive Index - February 2003

["gooner" <nickk@quicksilver.net.nz>]

Travis

Are these the same financial planners who have lost billions in the United
States in the last 3 years?  Or, are they the ones with Tower and/or AMP who
have blindly told their 'clients' to stay with international shares because
'one day' they will come right!

There are many Gold stocks that pay a dividend - ie earning money.  I can
show you as many winners in the gold stocks as losers.  It depends who you
believe and I prefer not to believe people who invest your money for you for
a commission irrespective of whether you win or lose.  Ever heard of a
financial planner/fund manager being sued for negligence as a result of
his/her advice?  I haven't but I wish  had.

The tech boom (bust actually) has nothing to do with the gold enlightenment.
Stocks were trading on a p/e of 2000 during those times; on borrowed
millions; with no history of earnings.  Where did the 'e' come from?????????
Bolnisi Gold (BSG:ASX as an example) has a p/e of 8 and pays a dividend!

Finally, your claim of the 'stocks you can't tell us about' (sssshhhhh)
sounds like the bloody tech bust.  As a financial planner, please share your
advice with us without the 'no warranty' clauses!

Cheers

Gooner

> I attended a seminar the other day put on for
> financial planners where the speaker happened to be
> the manager of one of Australia's biggest and best
> resources managed funds.
>
> During his talk he mentioned repeatedly the ridiculous
> prices being paid for many gold stocks, particularly
> those on the Australian market.  According to their
> analysis many of these mines were priced at such high
> levels that they seem already to have factored into
> the share price this massive continued bull market
> everyone is predicting.
>
> His claim was that clearly there is a bubble in gold
> stocks, amateur speculators with absolutely no idea of
> the concept of intrinsic value are buying gold stocks
> at whatever price they can get them believing that
> they can only go higher because gold seems to be going
> higher.
>
> He backed up his argument with several detailed
> valuations which included a sensitivity analysis of
> mine profits vs gold appreciation and it appears that
> very few people are going to get out of this with
> their skins intact if gold fails to double in price.
>
> It is much like the tech boom of the late 90s.  "The
> Internet is where all commerce will be in the future
> and therefore no price is to high to pay for Yahoo!"
> is much the same as "gold is in a bull market,
> supposedly central banks are going to get short
> squeezed so everyone should buy gold stocks".
>
> He did give several examples of stocks with very
> compelling valuations, but I'm not at liberty to tell
> you which ones they are... 8P
>
> Travis
> www.travismorien.com
>
>
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