Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

Calls to Care About

There is a ton of press devoted to the conference calls of the big technology companies. What is going on at Cisco, Yahoo, Ebay, Amazon, Microsoft, Dell, Google, etc. is important but if you want to make money in a bull market you'll probably want to pay attention to what is going on at Newmont Mines, Phelps Dodge, Schlumberger, Pan American Silver, or Exxon Mobil.

The great irony of the resource extraction business is that the better you get at it, the greater the supply of your produced commodity. This eventually lowers the price and puts your business in the toilet. Its a big self-limiting cycle that takes a long time to play out. On the other hand, production problems at Newmont could theoretically increase the gold price.

Tomorrow is Newmont Mines day in the sun:


There will be a conference call that day at 4 p.m. ET (2 p.m. MT) to discuss the fourth quarter and 2004 results. The conference call will be webcast on the company's website.

Conference call details
Dial-in number: 773-756-0828
Leader: Randy Engel
Password: Newmont
Webcast details: URL, http://www.newmont.com
Conference call replay details: dial-in number, 203-369-1342

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