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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.08

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Nov 18 4:00 PM EST

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To: Matthew L. Jones who wrote (28875)	10/8/1999 7:40:00 PM
From: Benkea	Read Replies (2) of 99985

Matt: "Do you think that the bond bottoming must correspond to an equity top?" Warren Buffett's almost 100% equity comprised BRK announced a stock for stock merger with GRN who was almost 100% bonds in June of 1998. This was "coincidentally" about a month before equities crashed and bonds hit a multi-decade high (low yield). The guy also bought zeros and sold them only a quarter or so before the multi-decade low (high for the zeros). Last quarter, he moved the $10 bil in cash to bonds! Follow Buffett because no ones' timing is better. BTW - he was out of stocks before the 1987 crash and the early 90s recession with the exception of a couple of "permanent" holdings.

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