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Gold/Mining/Energy : Triax Diversified High Yield Trust Units
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To: kingfisher who wrote (15)9/29/1997 9:23:00 PM
From: Charles Holewinski   of 39
 
R. Barbe,

One major point you failed to mention about concerning the bonds which Warren Buffett bought. They are long term U.S. Government Zero bonds which if predictions are correct will double in value in three years when the long 30 year U.S. Treasure bond is yielding 5%. While Warren is bullish on bonds I don't think he would necessarily buy into the high yield category. I do realize however that if interest rates for the benchmark U.S. 30 year bond gets to 5% all other bonds will also go up in value and therefore have lower yields.

One thing I don't understand is that it is my understanding that TRIAX is a Canadian trust and is therefore probably invested primarily in Canadian bonds. If this is correct Buffett's investment in U.S. bonds doesn't mean a thing.

Charles H.
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