gold - macquarie says buy ???

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    Perhaps to start in interesting thread:

    Macquarie 20/12 says "Despite its “negative leverage”, Newcrest remains our preferred exposure in the large cap gold stocks..........

    Our preferred exposures in the small cap gold stocks are Croesus Mining, Kingsgate, and Equigold."

    Don't know about anyone else there, but I find it staggering that Macquarie's pick actually has negative earnings (4x) when the gold price goes up - at least for the short term with their hedge book!

    Why would you want to own a gold stock when you are hoping gold prices go down???? With analysts like that.........

    I will stick to HIG and KCN thank you very much.

 
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