Re: kines pro and con
in response to
by
posted on
Oct 08, 2008 07:20PM
Third largest primary Gold Producer in North America
thanks, longforcash, i don't have any kinross yet either, but soon my portfolio will be overweight with it. everywhere i look i see bargains, but at its current price, i think kinross is one of those too. aside from gold producers, the energy trusts are so beaten down that they're paying 25-30% dividends, and junior mining companies that are cashed up are selling for next to nothing.
the us dollar is as dead as a dodo, and only the weakness of the euro is holding it up. it looks to me like the yen carry trade finally started unwinding, and the institutions that borrowed lots of yen at none percent interest to invest it all around the world just saw those trades blow up, and with the yen rising, all that money is going back to japan. gold just made a new all time high against the euro, and i don't think it will be long before it breaks out against all currencies.
i'd hate to sell any shares of kinross because i think $900 gold is going to look very cheap a year from now. but there are so many stocks that look even cheaper at this point.