Forum Archive Index - November 2003

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi Soarer2,
 
>
>most people don't have a cellar full of gold bars just
> gold mining shares, 
> 
>Gold - Long 
>

Ah, so that last line is not true then.  You actually have *gold shares* 
and not gold!    A far more sensible proposition if I may say so.   
However all gold shares are not equal.  I imagine company hedging 
policy is a big factor to consider.
 
>
>Snoopy you can do all the cross rate calculations you like but
> there is no other sector that has outperformed gold mining 
>stocks over the last three years, 
>

Personally I don't invest in sectors, only excellent companies in 
whatever sector they happen to be in.  

But even if what you say is true, there are very few sectors that 
perform well for four years in a row.  So your observation is actually a 
good reason to *sell* gold shares ;-P

>
>you should just accept the facts but  its not too late for 
> you to invest in Gold stocks I averaged up again today
>

The last share that I 'averaged up' on (two years ago) was 'Restaurant 
Brands' :-(.     I learned a lesson from that.   Don't 'average up' unless 
you are prepared to bail out.   Generally I'm not prepared to sell down 
my 'income share' portfolio.  So I have gone back to my old habits of 
only buying things that are cheap and have recovery potential, and to 
hell with the trend.....

>
>and will continue to do so until the fundamentals change.....
> 

What arel the signals to watch for that the fundamentals are changing?

SNOOPY

discl: no gold



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