RE:Gold stocks are cheap in both relative and absolute termsGood video - Thnx...I think it's also worth remembering that often ( but not always ) " market sentiment " can drive price discovery of stocks in macro terms - Ex: Record unemployment in the US, massive bankrupties of business, etc & what happens ? Market going to the moon. Obviously the unprecedented amount of Fed cash injections have driven this. But that alone does not explain this phenomenen. It is coupled with a sentiment - or mania depending on your point of view - by the general investing public, that things will keep going up. One could also consider the reverse when discussing stocks in micro terms, in this case, FVL: Approx. 2 months ago the stock was more or less priced the same. However Au was 150 dollars less an ounce & a major investor had not confirmed his additional financing, let alone notified officially notified the public that he was even considering this...Generally these item would be considered positive but at this moment, sentiment regarding FVL is quite negative...Go figure ;)