LETTERS TO THE EDITOR — Sarnoff a modern Nostradamus?

I have just reviewed Paul Sarnoff’s July 7 Gold Stock Advisory report on Canadian diamond exploration. I am a retired steel salesman in the U.S. and that seems to put Sarnoff and I in the same class, so to speak — neither of us is an expert on diamond exploration.

He tells us that just about nothing of exciting interest in diamonds has been found in Canada to date and takes five rambling pages to make his point. I would nickname him Paul “Nostradamus” Sarnoff for he has taken it upon himself to predict the outcome of diamond exploration in Canada for the next 100 years. Not only that, but he appears to have indirectly labeled as foolish the efforts of the likes of BHP, Kennecott and De Beers for running around Canada drilling for something they will not find in any quantity. And he includes The Northern Miner for reporting on all of it in an optimistic fashion.

I am not the prophet “Nostradamus” Sarnoff is, but I would predict that the next “100 days” will prove he has shot himself in the foot. I wish I could wait around for his prophecy to conclude in 100 years, but he has made it a rather elusive one — no one reading his Advisory will live to see the end of it. Clever, very clever.

Warren Niebling

Flourtown, Pa.