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Strategies & Market Trends : Value Investing

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To: Wallace Rivers who wrote (16560)	3/8/2003 5:12:20 PM
From: Jurgis Bekepuris	of 78670

>Buffett feels that low rated debt is an opportunistic place to be right now. Careful with wording! Buffett invested in low rated debt, but he has accesses to special situations that none of us have (e.g. company X floats the whole debt offering to BRK). He also has the analysis capability of companies and managements that none of us have. Even with that, he said: "we expect that we will have occasional large losses in junk issues". I would not jump in into junk train just because Buffett invested there. Even more that everyone already read his letter and stampeded into junk bonds. Of course, if someone is very knowledgeable in junk or if someone needs income fund, they are welcome to participate. Jurgis - not me

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