Q: In the materials sector I currently hold Goldcorp (G), Yamana (YRI), and Silver Wheaton (SLW). I am considerably down on all three as they are all hitting new lows today. Yamana has been getting hit particularly hard lately and is off more than 65% from where I bought it. My weighting in the sector which initially began as a comfortable 7% has been reduced to about 4%. I know you recommend that everyone hold a little gold in their portfolio as insurance, and you seem to be positive on these three names, but this insurance has turned out to be very costly. Can you comment on today’s results from Goldcorp and Yamana and how you view these companies going forward. I realize that the whole sector is down but some of their problems seem to be company specific. Would you recommend taking advantage of recent weakness in any of these names to bring my weighting back up?
Steven
Steven