Graham and Doddsville -- Value Investing In The New Era Message Board

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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: porcupine --''''> who wrote (71)	3/17/1998 5:51:00 PM
From: porcupine --''''>	Read Replies (2) of 1722

Wayne: Today silver closed at around $5.83/oz. Where does this leave BRK's stake? Frankly, I've always considered commodities a speculation on short term swings in inflation and supply and demand at the margin. However, you make a good point about a commodity's intrinsic value being its long term relation between the cost of production and the level of unit demand and that sometimes a commodity can be bought for less than that value. But, I still don't get it as a "long term" holding. Btw, Brent Crude is around $12.36.

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