Shorts Position, page-44

I buy gold producers that are making money at the current gold price whose share prices still represent value against the profits they produce. Pretty simple really. Profitable companies whose shares aren't overvalued, you don't need an MBA to figure that one out. I only said oil would outperform gold so that means both can go up together right. Why would I sell my profitable gold company if gold is going up and its shares are still fairly priced?

I just buy oil companies as well because they will outperform. Take a look at the gold brent ratio that I just put up. It goes back 36 years. There is nothing that special about oil or gold, they will be locked in their dance together in the future just as much as they danced their way to the present. If you don't believe that this ratio will revert back to its 2 year moving average then don't believe it. Eshmun

As far as my statement about BDR not being a gold producer, that's just a figure of speech. Technically a gold producer produces gold which BDR has done but when that production verges on turning profit into debt then the term gold producer seems a bit generous. Eshmun