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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

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To: Jack of All Trades who wrote (3117)	3/5/2004 3:15:44 PM
From: Chip McVickar	Read Replies (1) of 12411

I stand corrected Buffett owns the commodity not shqares in any mining operation.... berkshirehathaway.com PAAS on Buffett and Leverage to Silver... panamericansilver.com Why did Warren Buffett buy the physical commodity (silver) instead of shares in silver companies? Since more than 80% of silver is produced as a by-product of base metal, or other precious metal, production, there are no companies with 100% leverage to silver. There are very few companies with good leverage to silver. Warren Buffett invested approximately US$650 million in silver. If he would have wanted to invest the same amount in shares of silver companies, he would have had to buy out completely the largest, purest silver companies, and still would not have gotten 100% leverage to silver.

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