Forum Archive Index - November 2003

["Allan Potts" <ajp7079@excite.com>]

Dear Snoopy,

I've said before that I appreciate all comments, and contributions on this 
site.  Your input, as well as those of Phaedrus and Lazy Haggis are no 
exception.  I wouldn't be so quick to dismiss gold and holding currencies, 
however, as you have done in this post.  While these positions don't hold much 
interest for you, they certainly do for me.

I'm no gold bug, however when MacDunk asked for opinions several months ago on 
what was going to trend next, I offered the opinion that it was gold.  So far 
that has been an accurate forecast and very bankable.  I also hold currency 
positions in the Aussie, New Zealand and Canadian dollars as well as the South 
African Rand, as a hedge against the falling dollar.  So far those positions 
have been very bankable as well.  To me these are very valuable 
investments/hedges at this point in time for a  portion of my portfolio.  Not 
to leave you out, I also hold RBD which gives me exposure to a good yield and 
the New Zealand dollar.

Well I guess all this says is these differing opinions is what makes the 
market.  Keep all the posts coming, one and all.

>From the side of the pond with the sinking dollar.

Allan   




 --- On Thu 11/13, tennyson@caverock.net.nz < tennyson@caverock.net.nz > wrote:
From: tennyson@caverock.net.nz [mailto: tennyson@caverock.net.nz]
To: sharechat@sharechat.co.nz
Date: Thu, 13 Nov 2003 23:58:14 +1300
Subject: Re: [sharechat] Gold Glistens in the Dark Clouds

Hi LazyHaggis,<br> <br>I'll start on a positive note, and even give you some 
free publicity.   I <br>decided to revisit your website ( www.fairshare.co.nz 
), and I see that <br>you have some quite decent shares in your 'recommended' 
NZ <br>portfolio.   Good stuff.    But now moving on to your continuing 
<br>infatuation with gold....<br><br>><br>> Gold continues its upward bound 
trend, and in a few months the $400<br>> breakout will be long gone and so will 
today's good buying (re-buying)<br>> entry points.<br>> <br><br>I also follow 
an investment discussion group called 'aus.invest'.    <br>There is a character 
there by the name of 'The Wog'  who takes on the <br>' gold bugs', much like I 
do here.    Now keep in mind I am about to <br>quote a discussion on the merits 
of investing in gold from the <br>perspective of the Australian market.  But 
substitute 'New Zealand' for <br>'Australia' and the argument still makes 
sense.<br><br><br>quote:<br>--------------<br><br>><br>> ALL currencies are 
losing value<br>><br><br>Relative to what? The goods and services they can 
purchase? The <br>JPY being  the obvious exception because it's in deflation. 
Relative to <br>gold? Maybe, but if so it's very, very slowly. The AUD has been 
<br>debased from about 400:oz Au before and after the 1980 boom to <br>about 
580:oz Au now. (If I pick the peak of the market, then even gold <br>has been 
"debased" in AUD terms.) I can live with that.<br><br>Believe it or not, I 
don't hold currency just because I like the look of it,<br>and I have very 
little currency (or deposits directly convertible to<br>currency). I briefly 
hold currency because that allows me to pay my <br>broker for assets that go up 
faster than the currency goes down. As <br>long as my assets produce real 
growth, that outstrips the rate at which <br>the currency is being "debased" 
and therefore that's been an eminently <br>successful strategy for me. 
<br><br>How do I know? Because I have the means now to buy more goods <br>and 
services, petrol, nickel, real assets, or even gold (should I ever <br>find the 
need to do so), than I have ever had before.<br><br>> <br>> A USD will produce 
0.80 USD in 12 months time - some proposition!<br>><br><br>Actually a USD will 
produce 1.02 USD in 12 months time assuming it is <br>put into a 12 month 
deposit. That may well be worth considerably less <br>in some other currency 
(such as the AUD), and if that happens then I <br>don't care. You see, this is 
aus.invest - not usd.invest<br><br>Nothing personal but I'm killfiling you now 
to save bandwidth because I <br>have no interest in the only topic you're 
capable of discussing - gold / <br>USD cross rate. (And it IS a "cross rate" 
rather than a price, at least <br>around here.)<br><br>Wog<br><br> 
-----------------<br><br><br>Couldn't have put it better myself, so made no 
attempt to change it.<br><br>SNOOPY<br><br><br><br>--<br>Message sent by Snoopy 
<br>on Pegasus Mail version 4.02<br>----------------------------------<br>"Dogs 
have big tongues, so you can bet they don't <br>bite them by 
accident"<br><br><br>----------------------------------------------------------------------------<br>To
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