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Technology Stocks : INTEL TRADER

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To: Marc Schiler who wrote (2008)	2/26/1998 4:20:00 PM
From: Gerald Walls	Read Replies (2) of 11051

I still don't understand why the Hunts got nailed for their play, though. I think they'd love to bust Buffet too, but they can't. He went to great lengths to make sure that he couldn't be accused of manipulation and to make sure that the U.S. regulators couldn't kill him. berkshirehathaway.com All metal was purchased for London delivery through a single brokerage firm. No options have been or are held by Berkshire. No purchases have been made that established new highs for the metal and all buying has been after dips. Berkshire has had no knowledge of the actions or positions of any other market participant and today has no such knowledge. No options, not setting new highs, and taking delivery means no manipulation. All done through London means no U.S. regulatory authority. The Hunts were heavy on margin so the U.S. regulators torched them by merely raising the margin requirements. This would have no effect on Buffet.

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