LETTERS TO THE EDITOR — Bishop criticism unfair

The attack on [Gold Mining Stock Report Editor] Bob Bishop published in your letters column (June 29-July 5/98), was grossly unfair and without basis.

Of course, Bishop is an easy target since his recommended Crystallex International lost its Venezuelan court battle.

But for Daniel MacAlpine of the Boston Mining Investor, an unknown editor of an unknown newsletter, to suggest that Bishop does not do his research is preposterous. To my knowledge, Bishop has spent more hours than he cares to count on airplanes, making telephone calls and in meetings.

To imply that Bishop did not present Crystallex as a high-risk investment is not in accord with the facts. Each time he mentioned Crystallex, Bishop made clear that, though he thought they would win, it was a high-risk bet on a court outcome in a foreign country. Many times he stated that he was reluctant to even mention the stock to clients since it was so speculative.

Yes, Bishop bet on the wrong horse, as did many of us. But to say he did it without researching it or adequately disclosing the risk is plain wrong.

.BAdrian Day

Editor

Investment Analyst