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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Chispas who wrote (29109)5/1/2005 10:27:29 PM
From: pbull  Read Replies (1) of 116555
 
I'm not a big fan of Buffet. When oil was $10 a barrel in 1999, he said he was buying silver.
Now, there was a silver trade back then that worked out spectacularly well, but it's unclear whether Buffett was involved. He never said one way or another.
As far as pharma stocks go, he is contradicting himself. When the Medicare legislation passed a year ago, he said, and this isn't a direct quote, but something like even the No. 4 drug company has good returns on equity. Something like that.
So now they say they don't know. Too hard of a decision.
Well, let me make it easier for them:
When the government is buying computers circa 1995, then buy computers (and the software).
When the government is buying oil (to fill the Strategic Reserve), then buy oil.
When the government is buying drugs, then buy drugs.
We may be early, but not wrong.

PB
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