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Managers at the Goodhaven mutual fund make
the case for buying
beaten-down Barrick Gold (
), -51% YTD: The stock looks like a bargain based on expected cash flows, as well as a valuable call option offering potential hedge protection against inflation or currency stress caused by ongoing monetary stimulus.
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No wonder they make a case...they hold 3.8% of ABX and have lost 51% YTD, so why not urge other investors to drive up this extremely troubled stock...and as for expected cash flows...does that include the loss that SLW is about to inflict upon ABX due to the acute non-performance of the Pascua-Lama project in Chile? I seriously doubt the good folks at "SafeHaven" (now that's ironic) have taken that into account, since they are, after all, ABX-biased.
Jul 25 09:42 PM
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