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Gold/Mining/Energy : Silver prices

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To: ROBERT H RICHMOND who wrote (766)	2/20/1998 9:35:00 PM
From: Tommaso	Read Replies (2) of 8010

That wasn't the point. The point is that Buffet is not leveraged and has a legally enforceable claim. Furthermore, the amounts of silver he is buying are not such as to make a plausible case for market manipulation, especially since everyone knows what he is doing. Finally, with the assets and legal power than he can hire, anyone would be very foolish to try to obstruct what he has done quite openly and legally--and fairly. he has simply taken alarge position in a commodity that he considers undervalued. On top of all that, he announced weeks ago that he was willing to make accommodations in case of a squeeze. What reason do you have to think that there will be any delay on delivery of the silver contracts? Also, If he did have to accept cash, would it not be possible simply to go directly to the silver spot market and buy silver? I rather expect that Buffet knows more about these arrangements than we do.

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