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Dear Rick,
As a long time Buffet watcher who has made money more often than not purchasing his stock selections immediately after SEC filings,I tend to disagree with your viewpoint.
1.Buffet historically purchases for the long haul.
2.His Berkshire Hathaway company is very liquid.
3.Buffet very rarely does the obvious.
4.There is no pressure on him to sell.
5.He hates short term gains.
I don't know any more than the next person what will happen to silver but whoever does will be plugging the above into the equation.
Mechanically yours,
John
------------------ Reply Separator --------------------
Originally From: Bando57@xxxxxxx
Subject: SILVER....
Date: 02/06/98 08:43pm
Im wondering about the timing of Warren Buffett's announcement about his
acquisition of silver... I suppose he wanted to take the heat of the lawsuit
his brokerage house was fending off that the silver market was being
manipulated....
but having acquired roughly ten percent of the market and assuming most of
this was in the $4.50 to $5.00 or $6.00 range..and with silver exploding to
$7.00 is not possible he wanted to create hysteria...silver mania...If he was
to quietly sell the way he stealthily purchased his position he would end up
selling to himself...in affect put unbelieveable downward pressure on the
price....this way he gets the small specs all excited and buying in as he
exits out....i would not be surprised at all to see a rounded curve on this
chart as Mr. B unloads.....this could be a classic case of the big boys using
the small specs as nothing more than front line troops to be
massacred......for those going into this market i caution extreme
caution....sure it could go to ten bucks or beyond but i think gravity at some
point is going to weigh in and weigh in hard and fast on the price of this
white metal...]
Rick
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