Yes, the diversification talk that you hear about in all the commercials is just part of the big lie, and he puts that to rest. I hadn't read the comments on the Chapters site until now to know where you got that information, but another thing that he makes clear is that you should not be investing, but only speculating while controlling your risk. It's an excellent book by a guy who survived the crash of 29 and he kept updating it until he died rather than cashing in by publishing sequels. I was trying to explain to you earlier how most people whether in government or the financial industry don't know the truth and therefore can't be honest. You'll read about that in his book. Many times you can only devine the truth due to the lack of transparency. You can't maximize your returns in the Gold market unless you understand about the Carry Trade, Forward Sales, or over the counter derivative swaps, but you can't know about these as they are hidden much like the off balance sheet companies of Enron.
Many are jumping on the problems of derivatives in JPM, GS, MS or CSFB, but I haven't seen anyone other than me wondering about BNS. Here's two things to consider. In Nov 01 when they finally got to the vault in the WTC, Rudy Guliani was on TV saying that there were three armoured trucks to take away the gold and silver in the vault. He said they would be taking it all away within the hour and then was cut off and there was no mention of it again. If you looked at the books of Scotia Mocatta and calculated the weight of the gold and silver that was supposed to be in the vault and gone to an armoured car website to determine the loads as I did, you would have found that it would have taken about 13 of the largest dual axle trucks or 22 regular armoured trucks to haul the weight without breaking the suspension. Paper swap certificates with filled in weight amounts certainly weigh less than the actual physical. If you go back a few years in their annual reports you may see one where they had promoted a long time employee to be COO. By next year he was gone, no golden handshake, early retirement and he wasn't fired. Perhaps just an honest man who upon achieving that level in the executive was shown the drawer with the 'real' set of books and decided he didn't want to be part of the real game.
For over twenty years there have been questions about Brascans CEO Jack Cockwell's accounting practices with Edgar and Peter Bronfman's empire. Typical of todays media, there was no follow up or hard hitting in depth analysis. Once you have the control and hide things, even your superiors can't stop you and perhaps that's why Trevor Eyton is sleeping in the senate now instead of running the show.
Perhaps I'm just a paranoid schizophrenic cynic, but then I'm a goldbug (when it's in an uptrend).<GG>
Regards
Bob
Edit. P. S. Did you understand those formula?
Market Data 
Markets 
AI
