Hi Parrot,Interesting and very timely post.I agree that...

Hi Parrot,

Interesting and very timely post.

I agree that investing should be undertaken only to make money and there is no point to being a martyr.

I have to admit that I have sold out of all my gold equites, mostly at large losses, about 6 months ago. I did that because I finally realised that most goldies on the asx are used to fund management lifestyles with shareholder funds, that they have little skill or ability to run companies and that even if they do succeed rapacious governments will take most of the profit anyway. Couple that with a falling gold price(temporary in my opinion) and a huge focus on dividend yields by the market and there is no point in stating in.

I am holding my billion position. I still believe hold is money and my own personal day to day experience tells me inflation is causing rising prices and bubbles. These things can move in long cycles and I believe gold had a long way to go yet.

Finally I would say that biting the bullet and selling all my gold equites (except for Pru and pgi) at an overall large loss, while painful, saved md from a further large loss.

I have taken large positions in AMP and Qbe which have done much better even though I don't have the passion about them I do for gold.

Good luck to all.

Twinsen