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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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Message: Just my thoughts and a Fortune article on Chavez

Just my thoughts and a Fortune article on Chavez

posted on Dec 18, 2007 01:29PM

President Chavez may think he has the best interest of his people at hand, but when you come across articles like this it does make you think:

http://money.cnn.com/galleries/2007/...

Given all the issues around poverty I must admit that President Chavez comes across as somewhat of a hypocrite considering he wants to be seen as a poor people helper, but continues to not allow for economic prosperity by creating jobs for these same people he claims to want to help.

I see that some investors have been called out, some continue to hold positions and I am sure some have just plain had enough and sold; welcome to the markets. Nobody said it was going to be easy. It was however, encouraging to read the comments from RM and his reasons for selling, but more important, his investment position specific to his family holding shares. Given his position I would expect that he is expected to hold shares (but certainly not his family members) so it also looks like he is vested and committed and can prove to shareholders that he is putting his money where is mouth is. So, while I am disappointment that we continue to wait for the permit and experience negative price appreciation I like some of you continue to hold. It is tempting to capitulate and move on to add to other positions (ie. STA.V) which are showing positive price appreciation. I remain firm.....for now... but, I do reserve the right to change my mind....

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