Fun Statistics for the Relative Value Investor
This article originally appeared in the June 10th, 2005 edition of CanadianInvestors.com Inc. Investor
Some fun statistics for those who invest using relative value.
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Every 3 cent move in Intel (INTC:US) is greater than the entire market cap of Miramar Mining (MNG:US)
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Every 1.5 cent move in GE (GE:US) is greater than the entire market cap of Nevsun (NSU:US)
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Every 5 cent move in Microsoft (MSFT:US) is greater than the entire market cap of Cambior (CBJ:US)
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Every 25 cent move in Procter and Gamble (PG:US) is greater than the entire market cap of Eldorado Gold (EGO:US)
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Every 16 cent move in Exxon Mobil (XOM:US) is greater than the entire market cap of Agnico Eagle (AEM:US)
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Every 35 cent move in Pfizer (PFE:US) is greater than the entire market cap of Goldcorp (GG:US)
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Every $4.00 move in Google (GOOG:US) is worth more than the entire market cap of Pan American Silver (PAA:T)
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Every $0.75 cent move in Coke (KO:US) is worth more than the entire market cap of Kinross Gold (KGC:US)
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Every $0.10 cent move in Cisco (CSCO:US) is worth more than the entire market cap of Crystallex (KRY:T)
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Every $0.16 cent move in Dell (DELL:US) is worth more than the entire market cap of Golden Star (GSS:US).
I wonder if I started up a hedge fund that shorted the 10 most overvalued stocks like on this list and bought the 10 gold stocks listed how I would do?
Buy all the gold you can carry.
Disclosure:
Long Cambior (CBJ:T), Eldorado (ELD:T), Kinross (K:T) warrants, Cumberland
(CLG:T), Northgate (NGX:T), Rio Narcea (RNG:T), Nevsun (NSU:T), Imperial
(III:T), Golden Star (GSC:T), Agnico (AGE:T), Linear (LRR:T), Cross Lake
(CRN:T), cash, gold, silver at the time of writing.
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