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Technology Stocks : Micron Only Forum

MU 241.08

-6.7%

Dec 12 3:59 PM EST

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To: Knighty Tin who wrote (27716)	2/3/1998 8:53:00 PM
From: TREND1	Read Replies (1) of 53903

Mike CNBC says the man has 20% of the world's silver !! Any comments ??? Larry Dudash THIS JUST IN: BUFFETT BUYS SILVER!!! (or, he's no Bunker Hunt!).... That's right! Warren Buffett's Berkshire Hathaway has been buying up oodles of Silver (yes, as in silver dollar). Berkshire made the purchases between July and Jan. 12, and now owns some 130 million ounces! That 130 million ounces is worth some $845 million at the current price of around $6.50!!! Yowser!!!! So what does Buffett see in silver? Apparently, he's been following the metal for some 30 years and he finally became convinced that the supply-demand equation had been tipped in favor of the buyer. That is, it's undervalued!!! Silver got down to $4.60 or so an ounce in July. It hit a high of $50 in 1980. Why is Buffett revealing this? Because Berkshire "has received inquiries about its ownership of the metal..." OK. This may have something to do with a lawsuit filed recently by a silver short against Phibro (commodities arm of Salomon Smith Barney) and 10 other unnamed (!!) defendants. MAJOR HMMMM. As they are wont to say in my biz, this story has legs!!!!

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